Stifel Nicolaus analyst Stephen Gengaro maintained a Buy rating on National-Oilwell (NOV) today and set a price target of $18.00. The company’s shares closed last Wednesday at $9.32, close to its 52-week low of $8.00.
According to TipRanks.com, Gengaro ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -22.1% and a 27.3% success rate. Gengaro covers the Basic Materials sector, focusing on stocks such as Solaris Oilfield Infrastructure, Oil States International, and Superior Energy Services.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for National-Oilwell with a $17.62 average price target, implying an 86.1% upside from current levels. In a report issued on March 19, Barclays also upgraded the stock to Buy with a $14.00 price target.
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The company has a one-year high of $29.38 and a one-year low of $8.00. Currently, National-Oilwell has an average volume of 4.23M.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NOV in relation to earlier this year.
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National Oilwell Varco, Inc. provides equipment and technology to the upstream oil and gas industry. The company operates through the following segments: Rig Technologies, Wellbore Technologies, and Completion and Production Solutions. The Rig Technologies segment monitors its capital equipment backlog to plan its business. The Wellbore Technologies segment designs, manufactures, rents, and sells a variety of equipment and technologies used to perform drilling operations, and offers services that optimize their performance. The Completion and Production Solutions segment integrates technologies for well completions and oil and gas production. The company was founded in 1841 and is headquartered in Houston, TX.
