Price Target Update on National Oilwell Varco (NYSE:NOV)

National Oilwell Varco (NYSE:NOV) : The most positive equity analysts on National Oilwell Varco (NYSE:NOV) expects the shares to touch $45, whereas, the least positive believes that the stock will trade at $22 in the short term. The company is covered by 18 Wall Street Brokerage Firms. The average price target for shares are $32.33 with an expected fluctuation of $7.88 from the mean.

Other Equity analysts have also commented on the company shares. Bank of America reinstates its rating on National Oilwell Varco (NYSE:NOV). Analysts at the Bank of America have a current rating of Underperform on the shares. The rating by the firm was issued on June 13, 2016.

National Oilwell Varco (NYSE:NOV): stock turned positive on Thursday. Though the stock opened at $36.13, the bulls momentum made the stock top out at $36.66 level for the day. The stock recorded a low of $35.88 and closed the trading day at $36.5, in the green by 2.70%. The total traded volume for the day was 3,770,650. The stock had closed at $35.54 in the previous days trading.

The company shares have dropped -27.43% from its 1 Year high price. On Jun 26, 2015, the shares registered one year high at $49.49 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $33.31 and the 200 Day Moving Average price is recorded at $31.61. On the companys insider trading activities,The director of National Oilwell Varco Inc, Harrison David D sold 16,352 shares at $38.79 on November 9, 2015. The Insider selling transaction had a total value worth of $634,294. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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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