Natl Oilwell Varco (NOV) is Downgraded by KeyBanc Capital Mkts to Sector Weight

Natl Oilwell Varco (NOV) is Downgraded by KeyBanc Capital Mkts to Sector Weight , according to the research report released to the investors. Earlier the firm had a rating of Overweight on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-5-2016.

National Oilwell Varco, Inc. has dropped 5.95% during the last 3-month period . Year-to-Date the stock performance stands at -46.68%.The company shares have dropped -48.48% from its 1 Year high price. On Jan 2, 2015, the shares registered one year high at $66.02 and the one year low was seen on Dec 14, 2015. The 50-Day Moving Average price is $35.79 and the 200 Day Moving Average price is recorded at $39.93.

National Oilwell Varco, Inc. (NYSE:NOV) has lost 3.76% during the past week and dropped 8.47% in the last 4 weeks. The shares are however, negative as compared to the S&P 500 for the past week with a loss of 2.96%. National Oilwell Varco, Inc. (NYSE:NOV) has underperformed the index by 6.33% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Shares of National Oilwell Varco, Inc. (NYSE:NOV) ended Thursday session in red amid volatile trading. The shares closed down 0.25 points or 0.74% at $33.49 with 4,007,084 shares getting traded. Post opening the session at $33.55, the shares hit an intraday low of $33.175 and an intraday high of $33.93 and the price vacillated in this range throughout the day. The company has a market cap of $12,584 million and the number of outstanding shares have been calculated to be 375,747,610 shares. The 52-week high of National Oilwell Varco, Inc. (NYSE:NOV) is $66.36 and the 52-week low is $32.89.

Currently the company Insiders own 0.32% of National Oilwell Varco, Inc. shares according to the proxy statements. Institutional Investors own 92.43% of National Oilwell Varco, Inc. shares. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, The Securities and Exchange Commission has divulged that Harrison David D, director of National Oilwell Varco Inc, had unloaded 16,352 shares at an average price of $38.79 in a transaction dated on November 9, 2015. The total value of the transaction was worth $634,294.

National Oilwell Varco, Inc. is a provider of equipment and components 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 three segments. Its Rig Technology segment designs, manufactures, sells and services complete systems for the drilling, completion, and servicing of oil and gas wells. Its Petroleum Services & Supplies segment provides a variety of consumable goods and services used to drill, complete, remediate and workover oil and gas wells and service drill pipe, tubing, casing, flowlines and other oilfield tubular goods. Its Distribution & Transmission segment provides maintenance, repair and operating supplies and spare parts to drill site and production locations worldwide. In May 2014, National Oilwell Varco Inc completed the spinoff to its stockholders of its distribution business as an independent public company, NOW Inc.