The stock of National-Oilwell Varco, Inc. (NYSE:NOV) is a huge mover today! About 2.83 million shares traded hands. National-Oilwell Varco, Inc. (NYSE:NOV) has risen 16.98% since March 2, 2016 and is uptrending. It has outperformed by 8.73% the S&P500.
The move comes after 6 months positive chart setup for the $13.81 billion company. It was reported on Oct, 5 by Barchart.com. We have $58.54 PT which if reached, will make NYSE:NOV worth $8.01B more.
Analysts await National-Oilwell Varco, Inc. (NYSE:NOV) to report earnings on October, 27 before the open. They expect $-0.29 earnings per share, down 137.66% or $1.06 from last year’s $0.77 per share. After $-0.30 actual earnings per share reported by National-Oilwell Varco, Inc. for the previous quarter, Wall Street now forecasts -3.33% EPS growth.
National-Oilwell Varco, Inc. (NYSE:NOV) Ratings Coverage
Out of 24 analysts covering National Oilwell Varco (NYSE:NOV), 6 rate it a “Buy”, 6 “Sell”, while 12 “Hold”. This means 25% are positive. National Oilwell Varco has been the topic of 58 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The rating was maintained by Howard Weil with “Sector Perform” on Monday, November 2. Morgan Stanley upgraded National-Oilwell Varco, Inc. (NYSE:NOV) rating on Wednesday, April 27. Morgan Stanley has “Overweight” rating and $45 price target. Oppenheimer initiated National-Oilwell Varco, Inc. (NYSE:NOV) on Tuesday, January 12 with “Perform” rating. Barclays Capital downgraded National-Oilwell Varco, Inc. (NYSE:NOV) rating on Wednesday, April 20. Barclays Capital has “Equal-Weight” rating and $33 price target. The company was maintained on Friday, April 29 by Cowen & Co. The stock of National-Oilwell Varco, Inc. (NYSE:NOV) earned “Sector Perform” rating by Howard Weil on Thursday, February 4. Howard Weil maintained National-Oilwell Varco, Inc. (NYSE:NOV) on Wednesday, June 15 with “Sector Perform” rating. The stock of National-Oilwell Varco, Inc. (NYSE:NOV) has “Sector Perform” rating given on Friday, April 29 by RBC Capital Markets. The firm has “Neutral” rating by Citigroup given on Friday, December 11. The firm has “Sell” rating given on Monday, October 5 by Citigroup.
According to Zacks Investment Research, “National-Oilwell is a worldwide leader in the design, manufacture and sale of machinery and equipment and in the distribution of maintenance, repair and operating products used in oil and gas drilling and production. The Company’s machinery and equipment include drawworks, mud pumps and power swivels, which are the major mechanical components of rigs used to drill oil and gas wells. Many of these components are designed specifically for applications in offshore, extended reach and deep land drilling.”
Insitutional Activity: The institutional sentiment decreased to 0.95 in 2016 Q2. Its down 0.04, from 0.99 in 2016Q1. The ratio dived, as 67 funds sold all National-Oilwell Varco, Inc. shares owned while 211 reduced positions. 67 funds bought stakes while 198 increased positions. They now own 354.18 million shares or 3.12% less from 365.59 million shares in 2016Q1.
Independent Order Of Foresters accumulated 0.25% or 10,171 shares. Bessemer Gru Inc holds 322,017 shares or 0.06% of its portfolio. The Japan-based Daiwa Gru has invested 0.01% in National-Oilwell Varco, Inc. (NYSE:NOV). Advsrs Asset Mgmt owns 199,067 shares or 0.11% of their US portfolio. The New York-based Mufg Americas Holdings has invested 0.01% in National-Oilwell Varco, Inc. (NYSE:NOV). Amica Pension Fund Board Of Trustees owns 76,920 shares or 0.34% of their US portfolio. Cambrian Ltd Partnership, a California-based fund reported 23,400 shares. British Columbia Invest Mngmt accumulated 176,757 shares or 0.05% of the stock. Creegan & Nassoura Fincl Gp Ltd Liability Co reported 6,336 shares or 0.25% of all its holdings. State Board Of Administration Of Florida Retirement, a Florida-based fund reported 580,821 shares. Johnson Gru reported 17,316 shares or 0.08% of all its holdings. Mizuho And Limited last reported 612,499 shares in the company. Viking Fund Limited Liability Com last reported 320,000 shares in the company. Moreover, D E Shaw Com has 0.01% invested in National-Oilwell Varco, Inc. (NYSE:NOV) for 104,221 shares. Strs Ohio accumulated 603,328 shares or 0.09% of the stock.
Insider Transactions: Since August 5, 2016, the stock had 0 insider buys, and 1 sale for $106,260 net activity. Duff Scott K. also sold $106,260 worth of National-Oilwell Varco, Inc. (NYSE:NOV) shares.
Another recent and important National-Oilwell Varco, Inc. (NYSE:NOV) news was published by Seekingalpha.com which published an article titled: “National Oilwell Varco: More Upside Ahead” on September 18, 2016.
NOV Company Profile
National Oilwell Varco, Inc. (NOV), incorporated on July 14, 1995, is engaged in providing design, manufacture and sale of equipment and components used in gas and oil drilling, completion and production operations. The Firm operates through four divisions: Rig Systems, Rig Aftermarket, Wellbore Technologies, and Completion & Production Solutions. The Firm also provides oilfield services to the upstream gas and oil industry. The Firm conducts activities in approximately 830 locations across the world.
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