National Oilwell Varco Inc 2018 Q2 Institutional Investor Sentiment Better Than Expected

September 30, 2018 - By Victoria Pittman

National Oilwell Varco, Inc. (NYSE:NOV) Logo

Sentiment for National Oilwell Varco Inc (NYSE:NOV)

National Oilwell Varco Inc (NYSE:NOV) institutional sentiment increased to 0.88 in Q2 2018. Its up 0.02, from 0.86 in 2018Q1. The ratio has improved, as 198 investment professionals opened new or increased holdings, while 224 sold and decreased stakes in National Oilwell Varco Inc. The investment professionals in our partner’s database now own: 362.50 million shares, up from 354.58 million shares in 2018Q1. Also, the number of investment professionals holding National Oilwell Varco Inc in their top 10 holdings increased from 6 to 10 for an increase of 4. Sold All: 40 Reduced: 184 Increased: 135 New Position: 63.

National Oilwell Varco, Inc. designs, makes, and sells equipment and components used in gas and oil drilling, completion, and production operations; and provides oilfield services to the upstream gas and oil industry worldwide. The company has market cap of $16.48 billion. It operates through four divisions: Rig Systems, Rig Aftermarket, Wellbore Technologies, and Completion & Production Solutions. It currently has negative earnings. The Rig Systems segment offers land rigs; offshore drilling equipment packages; and drilling rig components.

The stock increased 0.09% or $0.04 during the last trading session, reaching $43.08. About 3.14 million shares traded or 5.95% up from the average. National Oilwell Varco, Inc. (NYSE:NOV) has risen 34.06% since September 30, 2017 and is uptrending. It has outperformed by 18.44% the S&P500.

Analysts await National Oilwell Varco, Inc. (NYSE:NOV) to report earnings on October, 25 after the close. They expect $0.12 earnings per share, up 271.43 % or $0.19 from last year’s $-0.07 per share. NOV’s profit will be $45.91 million for 89.75 P/E if the $0.12 EPS becomes a reality. After $0.06 actual earnings per share reported by National Oilwell Varco, Inc. for the previous quarter, Wall Street now forecasts 100.00 % EPS growth.

Mountain Lake Investment Management Llc holds 7.69% of its portfolio in National Oilwell Varco, Inc. for 350,000 shares. Vulcan Value Partners Llc owns 20.27 million shares or 6.81% of their US portfolio. Moreover, Ruffer Llp has 6.2% invested in the company for 3.92 million shares. The Texas-based Academy Capital Management Inc Tx has invested 5.93% in the stock. Hutchinson Capital Management Ca, a California-based fund reported 363,408 shares.

Since January 1, 0001, it had 0 buys, and 4 insider sales for $5.67 million activity.

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

Ratings analysis reveals 19% of National-Oilwell’s analysts are positive. Out of 16 Wall Street analysts rating National-Oilwell, 3 give it “Buy”, 1 “Sell” rating, while 12 recommend “Hold”. The lowest target is $3100 while the high is $55. The stock’s average target of $43.62 is 1.25% above today’s ($43.08) share price. NOV was included in 19 notes of analysts from April 13, 2018. The firm has “Hold” rating by Edward Jones given on Tuesday, September 4. The company was maintained on Friday, April 13 by Susquehanna. The stock of National Oilwell Varco, Inc. (NYSE:NOV) has “Neutral” rating given on Friday, September 14 by Citigroup. The rating was maintained by SunTrust with “Hold” on Monday, April 16. As per Thursday, April 19, the company rating was downgraded by Societe Generale. On Monday, July 30 the stock rating was maintained by Raymond James with “Outperform”. The rating was downgraded by B. Riley & Co on Tuesday, April 17 to “Neutral”. The company was maintained on Tuesday, July 31 by Citigroup. Citigroup maintained National Oilwell Varco, Inc. (NYSE:NOV) on Wednesday, July 11 with “Neutral” rating. FBR Capital downgraded it to “Hold” rating and $4000 target in Tuesday, April 17 report.

National Oilwell Varco, Inc. (NYSE:NOV) Institutional Positions Chart

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