The stock of National-Oilwell Varco, Inc. (NYSE:NOV) is a huge mover today! About 2.18M shares traded hands. National-Oilwell Varco, Inc. (NYSE:NOV) has risen 19.48% since April 13, 2016 and is uptrending. It has outperformed by 15.55% the S&P500.
The move comes after 8 months positive chart setup for the $14.27 billion company. It was reported on Nov, 15 by Barchart.com. We have $48.36 PT which if reached, will make NYSE:NOV worth $4.85B more.
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 rating was maintained by RBC Capital Markets on Thursday, February 4 with “Sector Perform”. The stock of National-Oilwell Varco, Inc. (NYSE:NOV) earned “Accumulate” rating by Johnson Rice on Friday, July 29. The firm has “Sell” rating by Citigroup given on Monday, October 3. Cowen & Co maintained it with “Market Perform” rating and $25 target price in Thursday, February 4 report. The stock has “Overweight” rating given by Morgan Stanley on Wednesday, April 27. Barclays Capital downgraded the stock to “Equal-Weight” rating in Wednesday, April 20 report. The rating was upgraded by Vetr on Tuesday, September 22 to “Strong-Buy”. Citigroup upgraded National-Oilwell Varco, Inc. (NYSE:NOV) on Friday, December 11 to “Neutral” rating. The company was maintained on Monday, June 13 by Bank of America. The stock of National-Oilwell Varco, Inc. (NYSE:NOV) has “Sector Weight” rating given on Tuesday, January 5 by KeyBanc Capital Markets.
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 0.95 in 2016 Q2. Its down 0.04, from 0.99 in 2016Q1. The ratio worsened, 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.
Fdx Advsrs owns 20,395 shares or 0.03% of their US portfolio. Livingston Grp Asset Mngmt Com (Operating As Southport Cap Management) holds 0.03% or 1,388 shares in its portfolio. Manchester Mgmt Ltd Liability has 1,323 shares for 0.01% of their US portfolio. Nomura Asset Mgmt Ltd owns 122,383 shares or 0.08% of their US portfolio. The Wisconsin-based Convergence Prns Lc has invested 0.31% in National-Oilwell Varco, Inc. (NYSE:NOV). Fiduciary Tru has 0.11% invested in the company for 96,261 shares. Ameriprise Inc reported 1.84M shares or 0.04% of all its holdings. Old Natl State Bank In accumulated 10,667 shares or 0.02% of the stock. Cwm Ltd Limited Liability Company accumulated 125,749 shares or 0.31% of the stock. Macquarie Grp has invested 0.01% of its portfolio in National-Oilwell Varco, Inc. (NYSE:NOV). Moreover, Ing Groep Nv has 0.01% invested in National-Oilwell Varco, Inc. (NYSE:NOV) for 18,159 shares. Gulf Bancorp (Uk) Limited holds 118,754 shares or 0.07% of its portfolio. Geode Cap Limited Liability Company owns 3.06 million shares or 0.06% of their US portfolio. Moreover, Old Second Bancorporation Of Aurora has 0.34% invested in National-Oilwell Varco, Inc. (NYSE:NOV) for 21,602 shares. Bank & Trust Of Hawaii owns 22,302 shares or 0.08% of their US portfolio.
Insider Transactions: Since August 5, 2016, the stock had 0 buys, and 1 insider sale for $106,260 net activity. Duff Scott K. sold 3,181 shares worth $106,260.
More important recent National-Oilwell Varco, Inc. (NYSE:NOV) news were published by: Blogs.Wsj.com which released: “National Oilwell Varco Settles Sanctions-Violations Case” on November 14, 2016, also Fool.com published article titled: “3 Things to Watch When National Oilwell Varco, Inc. Reports”, Seekingalpha.com published: “Offshore Stymies National Oilwell Varco” on November 09, 2016. More interesting news about National-Oilwell Varco, Inc. (NYSE:NOV) was released by: Investorplace.com and their article: “Why Groupon Inc (GRPN), Nokia Corp (ADR) (NOK) and National-Oilwell Varco, Inc …” with publication date: October 27, 2016.
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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