National Oilwell Varco (NOV) Receives ‘Analyst’ Rating

National Oilwell Varco (NOV) : Zacks Investment Research ranks National Oilwell Varco (NOV) as 3, which is a Hold recommendation. 6 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. Not everyone is convinced about the stocks future, hence, the stock receives 2 Sell recommendation. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 13 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 23 research analysts is 2.61, which indicates as a Hold.

National Oilwell Varco (NOV) : 15 investment research analysts covering National Oilwell Varco (NOV) have an average price target of $34.27 for the near short term. The highest target price given by the Brokerage Firm to the stock is $45 and the lowest target is $25 for the short term. Analysts expect the variance to be within $6.02 of the average price.


Also, In the latest statement by the brokerage house, Johnson Rice upgrades its outlook on National Oilwell Varco (NYSE:NOV). The current rating of the shares is Accumulate, according to the research report released by the firm. Previously, the company had a rating of Hold. The rating by the firm was issued on July 29, 2016.

National Oilwell Varco (NYSE:NOV): After opening at $32.54, the stock dipped to an intraday low of $32.32 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $33.03 and the buying power remained strong till the end. The stock closed at $32.89 for the day, a gain of 1.80% for the day session. The total traded volume was 2,316,422. The stocks close on the previous trading day was $32.31.

National Oilwell Varco, Inc. (NOV) is engaged in providing design, manufacture and sale of equipment and components used in oil and gas drilling, completion and production operations. The Company also provides oilfield services to the upstream oil and gas industry. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies, and Completion & Production Solutions. Its Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore. Its Rig Aftermarket segment provides aftermarket products and services to support land and offshore rigs, and drilling rig components manufactured by the Companys Rig Systems segment. Its Wellbore Technologies segment sells and rents solids control equipment; and provides solids control, waste management and drilling fluids services. Its Completion & Production Solutions segment provides technologies for well completions and oil and gas production.

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