National-Oilwell Varco (NOV) was Downgraded by Societe Generale to ” Sell”. Earlier the firm had a rating of “Hold ” on the company shares. Societe Generale advised their investors in a research report released on May 4, 2016.
Many Wall Street Analysts have commented on National-Oilwell Varco. Company shares were Reiterated by Cowen on Apr 29, 2016 to “Market Perform”, Firm has raised the Price Target to $ 28 from a previous price target of $25 .Company shares were Reiterated by RBC Capital Mkts on Apr 29, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 35 from a previous price target of $30 .National-Oilwell Varco was Upgraded by Morgan Stanley to ” Overweight” on Apr 27, 2016.
On the company’s financial health, National-Oilwell Varco reported $-0.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.10. The company had revenue of $2189.00 million for the quarter, compared to analysts expectations of $2186.31 million. The company’s revenue was down -54.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.14 EPS.
National-Oilwell Varco closed down -1.27 points or -3.52% at $34.77 with 1,38,85,552 shares getting traded on Monday. Post opening the session at $35.95, the shares hit an intraday low of $34.56 and an intraday high of $36.28 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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.