National Oilwell Varco (NOV) : Analyst Rating Update

National Oilwell Varco (NOV) : 27 analysts are covering National Oilwell Varco (NOV) and their average rating on the stock is 2.81, which is read as a Hold. 5 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, 2 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 17 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

National Oilwell Varco (NOV) : Average target price received by National Oilwell Varco (NOV) is $32.83 with an expected standard deviation of $7.46. The most aggressive target on the stock is $45, whereas the most downbeat target is $22. 18 financial analysts are currently covering the stock.

National Oilwell Varco (NYSE:NOV): The stock opened at $31.79 on Wednesday but the bulls could not build on the opening and the stock topped out at $31.82 for the day. The stock traded down to $30.67 during the day, due to lack of any buying support eventually closed down at $31.46 with a loss of -2.12% for the day. The stock had closed at $32.14 on the previous day. The total traded volume was 5,935,852 shares.

Also, In the latest statement by the brokerage house, Bank of America reinstates its outlook on National Oilwell Varco (NYSE:NOV). The current rating of the shares is Underperform, according to the research report released by the firm. The rating by the firm was issued on June 13, 2016. The company shares have dropped -27.22% from its 1 Year high price. On Jul 14, 2015, the shares registered one year high at $46.51 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $33.59 and the 200 Day Moving Average price is recorded at $31.55.

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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