Bank of America Reinstates National-Oilwell Varco to Underperform

Brokerage firm Bank of America Reinstates its rating on National-Oilwell Varco(NYSE:NOV). The shares have been rated Underperform. The rating by Bank of America was issued on Jun 13, 2016.

In a different note, On May 4, 2016, Societe Generale said it Downgrades its rating on National-Oilwell Varco. The shares have been rated ‘Sell’ by the firm. On Apr 27, 2016, Morgan Stanley said it Upgrades its rating on National-Oilwell Varco. In the research note, the firm Raises the price-target to $39.00 per share. The shares have been rated ‘Overweight’ by the firm. On Apr 20, 2016, Barclays said it Downgrades its rating on National-Oilwell Varco. The shares have been rated ‘Equal-weight’ by the firm. On Apr 19, 2016, Morgan Stanley said it Maintains its rating on National-Oilwell Varco. In the research note, the firm Raises the price-target to $35.00 per share. The shares have been rated ‘Underweight’ by the firm. Nomura said it Initiates Coverage on National-Oilwell Varco, according to a research note issued on Apr 7, 2016. The shares have been rated ‘Neutral’ by the firm.

National-Oilwell Varco (NOV) made into the market gainers list on Fridays trading session with the shares advancing 3.93% or 1.33 points. Due to strong positive momentum, the stock ended at $35.18, which is also near the day’s high of $35.335. The stock began the session at $34.21 and the volume stood at 1,08,76,650 shares. The 52-week high of the shares is $49.84 and the 52 week low is $25.74. The company has a current market capitalization of $13,265 M and it has 37,70,60,950 shares in outstanding.

National-Oilwell Varco(NOV) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $2.19B. Analysts had an estimated revenue of $2.26B. Earnings per share were $-0.06. Analysts had estimated an EPS of $-0.07.

Several Insider Transactions has been reported to the SEC. On Nov 10, 2015, David D Harrison (director) sold 16,352 shares at $38.79 per share price.Also, 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.

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