Morgan Stanley lifts National Oilwell Varco Inc. [NOV] price estimate. Who else is bullish?

National Oilwell Varco Inc. [NYSE: NOV] surged by $0.09 during the normal trading session on Wednesday and reaching a high of $14.69 during the day while it closed the day at $14.44. The company report on November 18, 2020 that NexTier and National Oilwell Varco Announce Agreement to Partner on Field Test of Electric Frac System.

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NexTier Oilfield Solutions Inc. (NYSE: NEX) (“NexTier”) and National Oilwell Varco, Inc. (NYSE: NOV) (“NOV”) announced that the two companies recently entered into an agreement to collaboratively field test NOV’s electric fracturing system known as the Ideal™ eFrac fleet.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201118005378/en/.

National Oilwell Varco Inc. stock has also gained 10.06% of its value over the past 7 days. However, NOV stock has inclined by 29.51% in the 3 months of the year. Over the past six months meanwhile, it has gained 14.15% and lost -42.36% year-on date.

The market cap for NOV stock reached $5.18 billion, with 385.00 million shares outstanding and 358.65 million shares in the current float. Compared to the average trading volume of 6.26M shares, NOV reached a trading volume of 7165493 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about National Oilwell Varco Inc. [NOV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NOV shares is $12.63 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NOV stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for National Oilwell Varco Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on November 10, 2020. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price to Underperform. The new note on the price target was released on October 02, 2020, representing the official price target for National Oilwell Varco Inc. stock. Previously, the target price had yet another raise from $15 to $16, while Cowen kept a Outperform rating on NOV stock. On May 14, 2020, analysts decreased their price target for NOV shares from 14 to 8.

The Average True Range (ATR) for National Oilwell Varco Inc. is set at 0.77, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 0.73. The Price to Book ratio for the last quarter was 1.02. Price to Free Cash Flow for NOV in the course of the last twelve months was 5.53 with Quick ratio for the last quarter at 1.90.

NOV stock trade performance evaluation

National Oilwell Varco Inc. [NOV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.06. With this latest performance, NOV shares gained by 26.00% in over the last four-week period, additionally plugging by 14.15% over the last 6 months – not to mention a drop of -38.34% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NOV stock in for the last two-week period is set at 67.38, with the RSI for the last a single of trading hit 68.32, and the three-weeks RSI is set at 65.33 for National Oilwell Varco Inc. [NOV]. The present Moving Average for the last 50 days of trading for this stock 10.53, while it was recorded at 14.16 for the last single week of trading, and 11.71 for the last 200 days.

National Oilwell Varco Inc. [NOV]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and National Oilwell Varco Inc. [NOV] shares currently have an operating margin of -5.25 and a Gross Margin at +10.12. National Oilwell Varco Inc.’s Net Margin is presently recorded at -71.89.

Return on Total Capital for NOV is now -3.27, given the latest momentum, and Return on Invested Capital for the company is -45.21. Return on Equity for this stock declined to -56.44, with Return on Assets sitting at -36.64. When it comes to the capital structure of this company, National Oilwell Varco Inc. [NOV] has a Total Debt to Total Equity ratio set at 35.70. Additionally, NOV Total Debt to Total Capital is recorded at 26.31, with Total Debt to Total Assets ending up at 20.62. Long-Term Debt to Equity for the company is recorded at 34.24, with the Long-Term Debt to Total Capital now at 25.23.

Reflecting on the efficiency of the workforce at the company, National Oilwell Varco Inc. [NOV] managed to generate an average of -$171,792 per employee. Receivables Turnover for the company is 3.28 with a Total Asset Turnover recorded at a value of 0.51.National Oilwell Varco Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 2.90.

Earnings per share (EPS) analysis for National Oilwell Varco Inc. [NOV] stock

With the latest financial reports released by the company, National Oilwell Varco Inc. posted 0.4/share EPS, while the average EPS was predicted by analysts to be reported at 0.16/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 150.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NOV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for National Oilwell Varco Inc. go to 41.00%.

National Oilwell Varco Inc. [NOV]: Insider Ownership positions

There are presently around $5,332 million, or 97.90% of NOV stock, in the hands of institutional investors. The top three institutional holders of NOV stocks are: VANGUARD GROUP INC with ownership of 38,077,123, which is approximately -16.287% of the company’s market cap and around 0.45% of the total institutional ownership; PZENA INVESTMENT MANAGEMENT LLC, holding 37,946,645 shares of the stock with an approximate value of $547.95 million in NOV stocks shares; and FIRST EAGLE INVESTMENT MANAGEMENT, LLC, currently with $486.56 million in NOV stock with ownership of nearly 41.921% of the company’s market capitalization.

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Positions in National Oilwell Varco Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 187 institutional holders increased their position in National Oilwell Varco Inc. [NYSE:NOV] by around 48,128,601 shares. Additionally, 212 investors decreased positions by around 49,552,640 shares, while 78 investors held positions by with 271,561,318 shares. The mentioned changes placed institutional holdings at 369,242,559 shares, according to the latest SEC report filing. NOV stock had 53 new institutional investments in for a total of 5,356,894 shares, while 55 institutional investors sold positions of 27,434,920 shares during the same period.

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