Does National Oilwell Varco, Inc. (NOV) Have More Gas After Reaching 52-Week High?

April 16, 2018 - By Nellie Frank

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

Investors sentiment decreased to 0.7 in 2017 Q4. Its down 0.15, from 0.85 in 2017Q3. It worsened, as 42 investors sold National Oilwell Varco, Inc. shares while 209 reduced holdings. 52 funds opened positions while 124 raised stakes. 349.52 million shares or 0.22% more from 348.73 million shares in 2017Q3 were reported.
Shell Asset Mgmt holds 19,763 shares. Rockefeller Financial Services stated it has 13,269 shares. Pub Sector Pension Board holds 39,506 shares. Zeke Cap Advsrs Limited Liability Com holds 25,032 shares or 0.09% of its portfolio. Cutter And Company Brokerage holds 18,900 shares. State Of Tennessee Treasury Department invested in 140,503 shares. Fifth Third Fincl Bank holds 28,610 shares. Aqr Management Limited Liability Company reported 0% in National Oilwell Varco, Inc. (NYSE:NOV). Stoneridge Investment Ltd Liability Company invested 0.38% of its portfolio in National Oilwell Varco, Inc. (NYSE:NOV). Dupont Mgmt Corporation accumulated 3,918 shares or 0% of the stock. Deroy Devereaux Private Invest Counsel holds 46,800 shares. Northern Trust Corporation holds 0.05% or 5.21 million shares in its portfolio. 20,000 are owned by Rbf Lc. Energy Opportunities Ltd Liability Co owns 167,614 shares. Eaton Vance Mngmt invested in 0.02% or 240,138 shares.

Since February 28, 2018, it had 0 insider purchases, and 1 sale for $264,657 activity.

The stock of National Oilwell Varco, Inc. (NYSE:NOV) hit a new 52-week high and has $41.32 target or 8.00 % above today’s $38.26 share price. The 7 months bullish chart indicates low risk for the $14.61 billion company. The 1-year high was reported on Apr, 16 by Barchart.com. If the $41.32 price target is reached, the company will be worth $1.17B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 6.51% or $2.6648 during the last trading session, reaching $38.2552. About 2.55 million shares traded. National Oilwell Varco, Inc. (NYSE:NOV) has declined 3.90% since April 16, 2017 and is downtrending. It has underperformed by 15.45% the S&P500.

Analysts await National Oilwell Varco, Inc. (NYSE:NOV) to report earnings on April, 26 after the close. They expect $-0.01 earnings per share, up 94.12 % or $0.16 from last year’s $-0.17 per share. After $-0.04 actual earnings per share reported by National Oilwell Varco, Inc. for the previous quarter, Wall Street now forecasts -75.00 % EPS growth.

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

Among 12 analysts covering National-Oilwell (NYSE:NOV), 2 have Buy rating, 2 Sell and 8 Hold. Therefore 17% are positive. National-Oilwell had 22 analyst reports since October 26, 2017 according to SRatingsIntel. The stock of National Oilwell Varco, Inc. (NYSE:NOV) has “Buy” rating given on Tuesday, December 19 by Piper Jaffray. Citigroup maintained National Oilwell Varco, Inc. (NYSE:NOV) on Tuesday, October 31 with “Neutral” rating. RBC Capital Markets maintained the shares of NOV in report on Friday, October 27 with “Hold” rating. SunTrust upgraded the shares of NOV in report on Wednesday, November 29 to “Hold” rating. RBC Capital Markets maintained the stock with “Hold” rating in Friday, January 19 report. Barclays Capital maintained National Oilwell Varco, Inc. (NYSE:NOV) on Thursday, February 8 with “Equal-Weight” rating. The firm has “Hold” rating given on Thursday, December 21 by RBC Capital Markets. RBC Capital Markets maintained the stock with “Hold” rating in Tuesday, February 6 report. The firm has “Buy” rating by Piper Jaffray given on Tuesday, February 6. The rating was maintained by Seaport Global with “Sell” on Monday, February 12.

National Oilwell Varco, Inc. designs, makes, and sells systems and components used in gas and oil drilling and production; and provides oilfield services to the upstream gas and oil industry worldwide. The company has market cap of $14.61 billion. It operates through three divisions: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. It currently has negative earnings. The Wellbore Technologies segment designs, makes, rents, and sells various equipment and technologies.

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

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