Economy

National Oilwell Varco, Inc. (NOV) Posts Earnings Results

Is National Oilwell Varco, Inc. (NYSE:NOV) closed at $33.63 a share in the latest session and the stock value rose nearly -10.18% since the beginning of this year. Importantly, NOV reported a sequential increase in sales as OPEC's production cut decision helped oil stabilize within a range above $50 per barrel.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. "Hence, while being incrementally positive on NOV, we expect the shares to remain soft until commodity prices recover sufficiently".

But it's not just buying activity that is creating investor interest in NOV; over the last several weeks, several insiders have sold shares. Nomura set a $29.00 price objective on National Oilwell Varco and gave the stock a "hold" rating in a report on Tuesday, August 16th. In this case performance of tends to percentage rate of return for a stock for a given time frame.

Among 5 analysts covering U.S. Concrete (NASDAQ:USCR), 3 have Buy rating, 0 Sell and 2 Hold. The stock now has an average rating of Hold and a consensus price target of $38.61.

National Oilwell Varco (NYSE:NOV) traded down 0.27% during mid-day trading on Thursday, reaching $33.54. About 3,274 shares traded. The firm has "Buy" rating by RBC Capital Markets given on Friday, September 22. The firm's 50 day moving average is $34.55 and its 200-day moving average is $33.53. National-Oilwell Varco, Inc. (NYSE:NOV) has risen 11.97% since October 27, 2016 and is uptrending.

National Oilwell Varco (NYSE:NOV) last posted its earnings results on Thursday, July 27th. Marcela Donadio, a director at (NOV), bought 5243 shares to bring his total ownership in the stock to 16,524 shares. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the company posted ($0.34) EPS. During the same quarter in the prior year, the business earned ($0.30) EPS. The current consensus recommendation provided by covering analysts is 2.90.

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The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Thursday, September 14th.

National Oilwell Varco, Inc.is an oilfield equipment maker and technology provider. IHT Wealth Management LLC boosted its holdings in shares of National Oilwell Varco by 1,923.1% in the 2nd quarter. FNY Partners Fund LP purchased a new stake in shares of National Oilwell Varco in the 1st quarter valued at $120,000. Finally, Murphy Pohlad Asset Management LLC bought a new position in National Oilwell Varco during the second quarter worth $238,000. Whereas, in last 21 trading days (one month) was moved up -6.31% and surged in last 63 trading days (quarter) of 2.27%. Osborn Williams & Donohoe LLC's holdings in National Oilwell Varco were worth $1,849,000 at the end of the most recent quarter. Cowen & Co maintained National-Oilwell Varco, Inc. The Company operates through four segments: Rig Systems, which makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore; Rig Aftermarket, which provides aftermarket products and services to support land and offshore rigs, and drilling rig components manufactured by the Company's Rig Systems segment; Wellbore Technologies, which sells and rents solids control equipment, and provides solids control, waste management and drilling fluids services, and Completion & Production Solutions, which provides technologies for well completions and oil and gas production.



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