Wall Street’s forecasts for NOV
In this article, we’ll take a look at Wall Street analysts’ forecasts for National Oilwell Varco (NOV) shares following its 4Q17 earnings release.
On February 5, 2018, ~24% of Wall Street analysts tracking National Oilwell Varco rated it as a “buy” or some equivalent. Approximately 65% rated the company as a “hold.” Only 11% of analysts recommended a “sell” or equivalent on the stock.
National Oilwell Varco makes up 0.84% of the iShares U.S. Energy ETF (IYE). In the past year, IYE has fallen 5.4% compared to the ~10% fall in NOV’s stock price.
In comparison, ~47% of analysts tracking Core Laboratories (CLB) rated it as a “buy” or some equivalent on February 5. Approximately 53% rated the company as a “hold.”
Analysts’ rating changes for NOV
From November 5, 2017, to February 5, 2018, the percentage of analysts recommending a “buy” or some equivalent for NOV remained unchanged at 24%. Analysts’ “hold” recommendations also remained unchanged for NOV. On February 5, 2017, ~17% of sell-side analysts recommended “buys” for NOV.
Analysts’ target prices for NOV
Wall Street analysts’ mean target price for NOV was ~$35.6 on February 5, 2018. NOV is currently trading at ~$33.8, implying a ~5% upside at its current price. On January 5, 2018, sell-side analysts’ average target price for NOV was $34.5.
Target prices for NOV’s peers
The mean target price surveyed among sell-side analysts for Keane Group (FRAC) was $22.3 on February 5. FRAC is currently trading at ~$15.5, implying a 44% upside at its current price. The mean target price surveyed among sell-side analysts for TETRA Technologies (TTI) was $5.3 on February 5. TTI is currently trading at $3.83, implying a 37% upside at its current price.
Learn more about the oilfield equipment and services industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.