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Wall Street’s Forecasts for NOV after Its 4Q17 Earnings

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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.”

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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.

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