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How Analysts View NOV and BHGE in August

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Recommendations for NOV

Of the 27 analysts surveyed by Reuters covering National Oilwell Varco (NOV), one analyst rates the stock as a “strong buy,” three analysts rate it as a “buy,” and 21 analysts rate NOV as a “hold.” Two of the surveyed analysts rated National Oilwell Varco as a “sell.”

On July 30, Raymond James raised its price target for National Oilwell Varco from $50 to $55. On the same day, BMO raised its price target for NOV from $32 to $39, and Jefferies raised its price target for the stock from $38 to $42. Credit Suisse raised its price target for NOV from $30 to $43. On July 28, RBC Capital raised its price target for National Oilwell Varco from $44 to $52.

The above graph shows analysts’ recommendations for National Oilwell Varco and Baker Hughes (BHGE). The median price target for National Oilwell Varco is $43. This price target implies a downside of ~2% from NOV’s current price of $43.75. Notably, National Oilwell Varco has risen 19% so far in 2018, outperforming its peers.

Recommendations for BHGE

Of the 26 analysts surveyed by Reuters covering Baker Hughes, three analysts rate the stock as a “strong buy,” ten analysts rate it as “buy,” and 12 analysts rate BHGE as a “hold.” One analyst rated the stock as a “sell.” The median price target for BHGE is $37, which implies an upside potential of 17% from its current price of $31.58.

Of the five S&P 500 oilfield services stocks discussed in this and the last part of this series, Halliburton Company (HAL) has the most “buy” ratings. It also has the most upside potential of 36% among the five stocks.

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