National Oilwell Varco (NOV) Receives Price Target

National Oilwell Varco (NOV) : The highest level National Oilwell Varco (NOV) is projected to reach is $45 for the short term and the lowest estimate is at $25. The consolidated price target from 15 rating analysts who initiate coverage on the stock is $34.27 and the possibility the share price can swing is $6.02.

National Oilwell Varco (NOV) : The consensus on National Oilwell Varco (NOV) based on 23 analyst recommendation on the company stock is 2.61, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 6 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 analyst believes that the stock is a Buy, which can produce decent returns in the future. 13 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock. 2 analyst also believes that the downside risk to the stock is higher and suggests a Sell on National Oilwell Varco (NOV).


Also, Equity analysts at the Brokerage firm Johnson Rice upgrades its rating on National Oilwell Varco (NYSE:NOV). The rating major has initiated the coverage with accumulate rating on the shares. Earlier, the shares were rated a Hold by the brokerage firm. The rating by the firm was issued on July 29, 2016.

National Oilwell Varco (NYSE:NOV): The stock opened at $33.40 on Thursday but the bulls could not build on the opening and the stock topped out at $33.49 for the day. The stock traded down to $32.70 during the day, due to lack of any buying support eventually closed down at $33.04 with a loss of -1.49% for the day. The stock had closed at $33.54 on the previous day. The total traded volume was 2,928,137 shares.

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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