Analyst Rating Update on National Oilwell Varco (NOV)

National Oilwell Varco (NOV) : 26 analysts are covering National Oilwell Varco (NOV) and their average rating on the stock is 2.65, which is read as a Hold. 6 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. National Oilwell Varco (NOV) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. 2 more analyst has given the stock a Sell recommendation. A total of 16 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

National Oilwell Varco (NOV) has been rated by 16 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $45 and the lowest price target forecast is $22. The average forecast of all the analysts is $33.44 and the expected standard deviation is $6.9.

Company shares have received an average consensus rating of Hold for the current week Also, Major Brokerage house, Johnson Rice upgrades its ratings on National Oilwell Varco (NYSE:NOV). According to the latest information available, the shares are now rated Accumulate by the analysts at the agency. Previously, the analysts had a Hold rating on the shares. The rating by the firm was issued on July 29, 2016.


National Oilwell Varco (NYSE:NOV): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $31.93 and $31.82 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $32.87. The buying momentum continued till the end and the stock did not give up its gains. It closed at $32.66, notching a gain of 2.35% for the day. The total traded volume was 3,979,100 . The stock had closed at $31.91 on the previous day.

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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