Citigroup reported on Wednesday that it has lowered its estimates on oil and gas drilling equipment company, National-Oilwell Varco, Inc. (NOV).
The firm has cut estimates through 2014 for NOV. Analysts see pressures with rig tech margins and also expect M&A to slow down. Citigroup currently has a $85 price target on the company, which suggests a 19.5% upside from the stock’s current price of $68.36
National-Oilwell Varco shares were mostly flat during Wednesday morning trading. The stock has declined -16% in the past year.
The Bottom Line
Shares of National-Oilwell Varco, Inc. (NOV) have a 0.76% yield, based on Wednesday morning’s price of $68.38.
National-Oilwell Varco, Inc. (NOV) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.