National-Oilwell was Upgraded to a Hold Rating at Citigroup

By Jason Carr

National-Oilwell (NYSE: NOV) received a Hold rating and a $33 price target from Citigroup analyst Scott Gruber today. The company’s shares opened today at $32.48.

According to TipRanks.com, Gruber is a 5-star analyst with an average return of 8.8% and a 62.2% success rate. Gruber covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, Oceaneering International, and Pacific Drilling S.A.

Currently, the analyst consensus on National-Oilwell is Moderate Sell and the average price target is $29.67, representing a -8.7% downside.

In a report issued on October 31, Societe Generale also upgraded the stock to Hold.

The company has a one year high of $40.06 and a one year low of $25.74. Currently, National-Oilwell has an average volume of 4M.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is neutral on the stock. Most recently, in August 2016, Scott Duff, the VP Cntrlr Chf Acctg Offcr of NOV sold 3,181 shares for a total of $106,254.

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 company operates through the following segments: Rig Systems, Rig Aftermarket, Wellbore Technologies, and Completion and Production Solutions. The Rig Systems segment designs, manufactures, and sells land rigs, offshore drilling equipment packages, including installation and commissioning services, and drilling rig components that mechanize and automate the drilling process and rig functionality. The Rig Aftermarket segment provides spare parts, repair, and rentals as well as technical support, field service, and first well support, field engineering, and customer training. 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.