Notable Reporting: National Oilwell Varco Inc (NYSE:NOV): Institutional Investors Aren’t Crazy About It

November 24, 2016 - By Adrian Mccoy   ·   0 Comments

Notable Reporting: National Oilwell Varco Inc (NYSE:NOV): Institutional Investors Aren't Crazy About It

Sentiment for National Oilwell Varco Inc (NYSE:NOV)

National Oilwell Varco Inc (NYSE:NOV) institutional sentiment decreased to 0.88 in Q2 2016. Its down -0.07, from 0.95 in 2016Q1. The ratio worsened, as 265 funds increased and started new stock positions, while 278 reduced and sold stakes in National Oilwell Varco Inc. The funds in our partner’s database now possess: 354.18 million shares, down from 365.59 million shares in 2016Q1. Also, the number of funds holding National Oilwell Varco Inc in their top 10 stock positions decreased from 8 to 7 for a decrease of 1. Sold All: 67 Reduced: 211 Increased: 198 New Position: 67.

National Oilwell Varco, Inc. is engaged in providing design, manufacture and sale of equipment and components used in gas and oil drilling, completion and production operations. The company has a market cap of $13.73 billion. The Firm operates through four divisions: Rig Systems, which makes and supports the capital equipment and integrated systems needed to drill gas and oil wells on land and offshore; Rig Aftermarket, which provides aftermarket services and products 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 gas and oil production. It currently has negative earnings. The Firm also provides oilfield services to the upstream gas and oil industry.

The stock closed at $36.35 during the last session. It is down 24.19% since April 22, 2016 and is uptrending. It has outperformed by 18.78% the S&P500.

Analysts await National-Oilwell Varco, Inc. (NYSE:NOV) to report earnings on February, 1. They expect $-0.28 EPS, down 170.00% or $0.68 from last year’s $0.4 per share. After $-0.34 actual EPS reported by National-Oilwell Varco, Inc. for the previous quarter, Wall Street now forecasts -17.65% EPS growth.

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.”

Vulcan Value Partners Llc holds 6.31% of its portfolio in National-Oilwell Varco, Inc. for 19.06 million shares. Hutchinson Capital Management Ca owns 569,832 shares or 5.82% of their US portfolio. Moreover, Contrarius Investment Management Ltd has 5.73% invested in the company for 2.00 million shares. The Texas-based Academy Capital Management Inc Tx has invested 4.79% in the stock. Qv Investors Inc., a Alberta – Canada-based fund reported 959,522 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 1 sale for $106,260 net activity.

National-Oilwell Varco, Inc. (NYSE:NOV) Ratings Coverage

Ratings analysis reveals 25% of National Oilwell Varco’s analysts are positive. Out of 24 Wall Street analysts rating National Oilwell Varco, 6 give it “Buy”, 4 “Sell” rating, while 14 recommend “Hold”. The lowest target is $18 while the high is $55. The stock’s average target of $32.39 is -10.89% below today’s ($36.35) share price. NOV was included in 60 notes of analysts from July 31, 2015. The stock of National-Oilwell Varco, Inc. (NYSE:NOV) earned “Sell” rating by Citigroup on Monday, October 3. RBC Capital Markets maintained the shares of NOV in a report on Friday, April 29 with “Sector Perform” rating. Jefferies maintained National-Oilwell Varco, Inc. (NYSE:NOV) on Monday, July 11 with “Hold” rating. KeyBanc Capital Markets downgraded the shares of NOV in a report on Tuesday, January 5 to “Sector Weight” rating. The stock has “Underperform” rating given by Bank of America on Monday, June 13. The rating was maintained by RBC Capital Markets with “Sector Perform” on Thursday, February 4. The stock of National-Oilwell Varco, Inc. (NYSE:NOV) has “Neutral” rating given on Friday, December 11 by Citigroup. Barclays Capital downgraded National-Oilwell Varco, Inc. (NYSE:NOV) on Wednesday, April 20 to “Equal-Weight” rating. The company was downgraded on Wednesday, August 5 by Argus Research. On Monday, October 31 the stock rating was upgraded by Societe Generale to “Hold”.

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.

More news for National-Oilwell Varco, Inc. (NYSE:NOV) were recently published by: Blogs.Wsj.com, which released: “National Oilwell Varco Settles Sanctions-Violations Case” on November 14, 2016. Fool.com‘s article titled: “National Oilwell Varco, Inc. Still Hasn’t Hit Bottom Just Yet” and published on October 27, 2016 is yet another important article.

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By Adrian Mccoy


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