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Wells Fargo Sticks to Its Sell Rating for NOV (NOV)

Wells Fargo analyst Roger Read maintained a Sell rating on NOV (NOVResearch Report) today and set a price target of $16.00. The company’s shares closed last Wednesday at $19.84.

According to TipRanks.com, Read is a 5-star analyst with an average return of 12.5% and a 64.0% success rate. Read covers the Utilities sector, focusing on stocks such as Occidental Petroleum, Marathon Petroleum, and Delek US Holdings.

The word on The Street in general, suggests a Hold analyst consensus rating for NOV with a $19.14 average price target.

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NOV’s market cap is currently $7.79B and has a P/E ratio of -30.63.

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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.

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