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Sunday, January 5, 2014

National Oilwell Varco could rise 30 percent in a year -Barron's, (NYSE: NOV)

Shares of National Oilwell Varco Inc could rise 30 percent in the next year because the maker of offshore-drilling gear will enjoy a jump in orders for aftermarket parts as well as replacement orders for aging drill fleets, financial weekly Barron's wrote in its Jan. 6 edition. Further, a spinoff of National Oilwell Varco's distribution business should unlock a higher valuation and potentially fast dividend growth, Barron's wrote.

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. Shares of NOV fell by 0.34% or $-0.27/share to $78.75. In the past year, the shares have traded as low as $63.08 and as high as $84.71. On average, 2747570 shares of NOV exchange hands on a given day and today's volume is recorded at 1916517.