Today’s Stock Alert: How Analysts Feel About National-Oilwell Varco, Inc. After Achieving 52-Week High?

Today's Stock Alert: How Analysts Feel About National Oilwell Varco, Inc. After Achieving 52 Week High?

The stock of National-Oilwell Varco, Inc. (NYSE:NOV) hit a new 52-week high and has $39.09 target or 4.00% above today’s $37.59 share price. The 6 months bullish chart indicates low risk for the $15.33 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $39.09 price target is reached, the company will be worth $613.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.62% or $0.23 on December 1, hitting $37.59. About 4.50 million shares traded hands or 8.17% up from the average. National-Oilwell Varco, Inc. (NYSE:NOV) has risen 12.87% since April 28, 2016 and is uptrending. It has outperformed by 6.94% the S&P500.

Analysts await National-Oilwell Varco, Inc. (NYSE:NOV) to report earnings on February, 1. They expect $-0.28 earnings per share, down 170.00% or $0.68 from last year’s $0.4 per share. After $-0.34 actual earnings per share reported by National-Oilwell Varco, Inc. for the previous quarter, Wall Street now forecasts -17.65% EPS growth.

National-Oilwell Varco, Inc. (NYSE:NOV) Ratings Coverage

Out of 24 analysts covering National Oilwell Varco (NYSE:NOV), 6 rate it a “Buy”, 4 “Sell”, while 14 “Hold”. This means 25% are positive. National Oilwell Varco has been the topic of 60 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm earned “Sector Perform” rating on Wednesday, June 15 by Howard Weil. Citigroup maintained National-Oilwell Varco, Inc. (NYSE:NOV) rating on Monday, October 5. Citigroup has “Sell” rating and $32 price target. The stock of National-Oilwell Varco, Inc. (NYSE:NOV) earned “Underperform” rating by Credit Suisse on Friday, September 4. Societe Generale downgraded National-Oilwell Varco, Inc. (NYSE:NOV) on Wednesday, May 4 to “Sell” rating. The stock has “Neutral” rating given by Citigroup on Friday, December 11. The firm earned “Strong-Buy” rating on Tuesday, September 22 by Vetr. As per Wednesday, August 26, the company rating was upgraded by JP Morgan. The firm has “Overweight” rating by Morgan Stanley given on Wednesday, April 27. On Monday, November 2 the stock rating was maintained by Howard Weil with “Sector Perform”. The company was upgraded on Monday, November 30 by Guggenheim.

According to Zacks Investment Research, “National-Oilwell is a worldwide leader in the design, manufacture and sale of machinery and equipment and in the distribution of maintenance, repair and operating products used in oil and gas drilling and production. The Company’s machinery and equipment include drawworks, mud pumps and power swivels, which are the major mechanical components of rigs used to drill oil and gas wells. Many of these components are designed specifically for applications in offshore, extended reach and deep land drilling.”

Insitutional Activity: The institutional sentiment decreased to 0.88 in Q2 2016. Its down 0.07, from 0.95 in 2016Q1. The ratio is negative, as 67 funds sold all National-Oilwell Varco, Inc. shares owned while 211 reduced positions. 67 funds bought stakes while 198 increased positions. They now own 354.18 million shares or 3.12% less from 365.59 million shares in 2016Q1.
Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0.21% invested in National-Oilwell Varco, Inc. (NYSE:NOV) for 485,237 shares. Koshinski Asset Mngmt holds 0% of its portfolio in National-Oilwell Varco, Inc. (NYSE:NOV) for 7,971 shares. Rice Hall James Ltd Liability Corporation, a California-based fund reported 13,026 shares. Putnam Investments Limited Co accumulated 0.05% or 580,046 shares. Fiduciary Company owns 96,261 shares or 0.11% of their US portfolio. Raymond James Financial Services Advsrs Incorporated has 52,095 shares for 0.02% of their US portfolio. Blb&B Advisors Ltd Llc accumulated 7,839 shares or 0.05% of the stock. Firstmerit Comml Bank N A Trustee has 8,899 shares for 0.02% of their US portfolio. Gateway Invest Advisers Limited Liability Corp holds 0.01% or 36,162 shares in its portfolio. Amica Mutual holds 0.31% or 95,310 shares in its portfolio. National Pension Ser holds 0.09% or 293,056 shares in its portfolio. Johnson Financial Group owns 17,316 shares or 0.08% of their US portfolio. Garrison Corporation accumulated 0.76% or 33,696 shares. Commonwealth Equity Svcs accumulated 31,439 shares or 0.01% of the stock. Of Oklahoma has 0% invested in the company for 7,550 shares.

Insider Transactions: Since August 5, 2016, the stock had 0 insider purchases, and 1 sale for $106,260 net activity. 3,181 National-Oilwell Varco, Inc. (NYSE:NOV) shares with value of $106,260 were sold by Duff Scott K..

NOV Company Profile

National Oilwell Varco, Inc. (NOV), incorporated on July 14, 1995, is engaged in providing design, manufacture and sale of equipment and components used in gas and oil drilling, completion and production operations. The Firm operates through four divisions: Rig Systems, Rig Aftermarket, Wellbore Technologies, and Completion & Production Solutions. The Firm also provides oilfield services to the upstream gas and oil industry. The Firm conducts activities in approximately 830 locations across the world.

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