National Oilwell Varco Inc (NYSE:NOV) Stock Price Down as Sentiment Falls

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

Sentiment for National Oilwell Varco Inc (NYSE:NOV)

National Oilwell Varco Inc (NYSE:NOV) institutional sentiment decreased to 0.9 in 2019 Q2. Its down -0.35, from 1.25 in 2019Q1. The ratio has dropped, as 171 funds started new and increased stock positions, while 191 sold and decreased their equity positions in National Oilwell Varco Inc. The funds in our partner’s database now possess: 356.96 million shares, up from 352.95 million shares in 2019Q1. Also, the number of funds holding National Oilwell Varco Inc in their top 10 stock positions was flat from 4 to 4 for the same number . Sold All: 53 Reduced: 138 Increased: 136 New Position: 35.

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 $8.80 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 decreased 1.26% or $0.29 during the last trading session, reaching $22.81. About 3.83 million shares traded. National Oilwell Varco, Inc. (NYSE:NOV) has declined 50.48% since September 13, 2018 and is downtrending. It has underperformed by 50.48% the S&P500.

Analysts await National Oilwell Varco, Inc. (NYSE:NOV) to report earnings on October, 24. NOV’s profit will be $34.73 million for 63.36 P/E if the $0.09 EPS becomes a reality. After $-0.04 actual EPS reported by National Oilwell Varco, Inc. for the previous quarter, Wall Street now forecasts -325.00 % EPS growth.

Energy Opportunities Capital Management Llc holds 6.19% of its portfolio in National Oilwell Varco, Inc. for 111,637 shares. Mountain Lake Investment Management Llc owns 555,000 shares or 5.79% of their US portfolio. Moreover, Vulcan Value Partners Llc has 5.1% invested in the company for 25.78 million shares. The United Kingdom-based Ruffer Llp has invested 3.9% in the stock. Pzena Investment Management Llc, a New York-based fund reported 24.23 million shares.

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

Ratings analysis reveals 67% of National Oilwell Varco’s analysts are positive. Out of 6 Wall Street analysts rating National Oilwell Varco, 4 give it “Buy”, 0 “Sell” rating, while 2 recommend “Hold”. The lowest target is $2400 while the high is $35. The stock’s average target of $27.57 is 20.87% above today’s ($22.81) share price. NOV was included in 12 notes of analysts from March 29, 2019. Raymond James maintained National Oilwell Varco, Inc. (NYSE:NOV) on Monday, April 15 with “Outperform” rating. Susquehanna upgraded National Oilwell Varco, Inc. (NYSE:NOV) on Monday, August 12 to “Positive” rating. The stock of National Oilwell Varco, Inc. (NYSE:NOV) earned “Buy” rating by Citigroup on Wednesday, July 31. The stock has “Outperform” rating by Raymond James on Wednesday, July 31. Barclays Capital maintained the stock with “Equal-Weight” rating in Monday, April 15 report. Jefferies upgraded National Oilwell Varco, Inc. (NYSE:NOV) on Thursday, September 5 to “Buy” rating. As per Thursday, September 12, the company rating was maintained by Wells Fargo.

More notable recent National Oilwell Varco, Inc. (NYSE:NOV) news were published by: Finance.Yahoo.com which released: “Why the Offshore Drilling Recovery Is Real – Yahoo Finance” on August 17, 2019, also Finance.Yahoo.com with their article: “Don’t Race Out To Buy National Oilwell Varco, Inc. (NYSE:NOV) Just Because It’s Going Ex-Dividend – Yahoo Finance” published on September 08, 2019, Finance.Yahoo.com published: “4 China Stocks Getting Slammed as Trump Wages Currency War – Yahoo Finance” on August 23, 2019. More interesting news about National Oilwell Varco, Inc. (NYSE:NOV) were released by: Finance.Yahoo.com and their article: “Wall Street Moves Up Thursday – Yahoo Finance” published on August 29, 2019 as well as Seekingalpha.com‘s news article titled: “Blackstone / GSO announces monthly distributions – Seeking Alpha” with publication date: September 11, 2019.

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

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