National-Oilwell Varco (NOV) is Reiterated by Cowen to Market Perform, Raises Price Target to $ 28

National-Oilwell Varco (NOV) was Reiterated by Cowen to “Market Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 28 from a previous price target of $25 . Cowen advised their investors in a research report released on Apr 29, 2016.

Many Wall Street Analysts have commented on National-Oilwell Varco. National-Oilwell Varco was Upgraded by Morgan Stanley to ” Overweight” on Apr 27, 2016. Barclays Downgraded National-Oilwell Varco on Apr 20, 2016 to ” Equal Weight”, Price Target of the shares are set at $33.Shares were Reiterated by RBC Capital Mkts on Apr 12, 2016 to “Sector Perform” and Lowered the Price Target to $ 30 from a previous price target of $33 .

On the company’s financial health, National-Oilwell Varco reported $0.23 EPS for the quarter, missing the analyst consensus estimate by $ -0.22 based on the information available during the earnings call on Feb 3, 2016. Analyst had a consensus of $0.45. The company had revenue of $2722.00 million for the quarter, compared to analysts expectations of $3040.28 million. The company’s revenue was down -52.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.69 EPS.

National-Oilwell Varco opened for trading at $30.47 and hit $32.225 on the upside on Wednesday, eventually ending the session at $31.7, with a gain of 7.93% or 2.33 points. The heightened volatility saw the trading volume jump to 1,02,64,697 shares. Company has a market cap of $11,913 M.

In a different news, on Nov 10, 2015, David D Harrison (director) sold 16,352 shares at $38.79 per share price. According to the SEC, on Apr 30, 2015, Greg L Armstrong (director) sold 5,736 shares at $54.49 per share price. On Apr 30, 2015, Roger L Jarvis (director) sold 5,900 shares at $52.90 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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.

National-Oilwell Varco

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