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Wall Street’s Forecasts for NOV ahead of 4Q17 Earnings

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Jan. 26 2018, Updated 7:30 a.m. ET

Wall Street’s forecasts for National Oilwell Varco

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Analysts’ ratings for National Oilwell Varco

On January 18, 2018, approximately 24% of analysts tracking National Oilwell Varco rated it a “buy” or some equivalent. Approximately 68% rated the company a “hold,” and the rest have rated it as a “sell” or equivalent. In comparison, all the sell-side analysts tracking Flotek Industries (FTK) rated it a “buy” or some equivalent on January 18.

Analysts’ rating changes for NOV

From October 18, 2017, to January 18, 2018, the percentage of analysts recommending a “buy” or some equivalent for NOV has remained unchanged at 24%. Analysts’ “hold” recommendations have increased for NOV during this period. A year ago, ~14% of sell-side analysts recommended a “buy” for NOV. NOV is 3.4% of the SPDR S&P Oil & Gas Equipment & Services ETF (XES). XES has decreased 20% in the past year. NOV’s stock price decreased 6%.

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Analysts’ target prices for NOV

Sell-side analysts’ mean target price for NOV on January 18 was $35. NOV is currently trading at $37.9, implying ~7% downside at its current price. A month ago, analysts’ mean target price for NOV was $34.3.

Target prices for NOV’s peers

The mean target price surveyed among sell-side analysts for Keane Group (FRAC) was $21.8 on January 18. FRAC is currently trading at ~$18, implying nearly 22% potential returns at its current price. The mean target price surveyed among sell-side analysts for Superior Energy Services (SPN) was $12.1 on January 18. SPN is currently trading at ~$10.8, implying 12% upside at its current price.

Learn more about the OFS industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.

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