National-Oilwell Receives a Hold from Wells Fargo


Wells Fargo analyst Judson Bailey maintained a Hold rating on National-Oilwell (NYSE: NOV) today. The company’s shares closed yesterday at $43.20, close to its 52-week high of $45.08.

According to TipRanks.com, Bailey is a 3-star analyst with an average return of 8.2% and a 37.3% success rate. Bailey covers the Basic Materials sector, focusing on stocks such as Baker Hughes a GE company, Oceaneering International, and Oil States International.

Currently, the analyst consensus on National-Oilwell is a Hold with an average price target of $35.33.

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Based on National-Oilwell’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.79 billion and GAAP net loss of $68 million. In comparison, last year the company earned revenue of $1.76 billion and had a GAAP net loss of $75 million.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. Last month, Scott Duff, the VP Cntrlr Chf Acctg Offcr of NOV sold 40,459 shares for a total of $1,659,631.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

National Oilwell Varco, Inc. provides equipment and components that are used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry. The firm operates through the following segments: Rig Technologies, Wellbore Technologies, and Completion and Production Solutions.

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