National Oilwell Varco Inc. (NYSE: NOV) is -53.73% lower on its value in year-to-date trading and has touched a low of $8.00 and a high of $25.81 in the current 52-week trading range. The NOV stock was last observed hovering at around $11.59 in the last trading session, with the day’s gains setting it 0.16% off its average median price target of $13.50 for the next 12 months. It is also 32.86% off the consensus price target high of $17.50 offered by 30 analysts, but current levels are -17.5% lower than the price target low of $10.00 for the same period.
Currently trading at $11.75, the stock is 0.35% and -5.16% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.93 million and changing 1.38% at the moment leaves the stock -30.96% off its SMA200. NOV registered -47.53% loss for a year compared to 6-month loss of -44.47%. The firm has a 50-day simple moving average (SMA 50) of $11.89 and a 200-day simple moving average (SMA200) of $14.21.
The stock witnessed a -4.21% gain in the last 1 month and extending the period to 3 months gives it a -6.00%, and is -10.78% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.41% over the week and 5.42% over the month.
National Oilwell Varco Inc. (NOV) has around 35479 employees, a market worth around $4.50B and $7.79B in sales. Profit margin for the company is -35.60%. Distance from 52-week low is 46.88% and -54.48% from its 52-week high. The company has generated returns on investments over the last 12 months (-58.80%).
National Oilwell Varco Inc. (NOV) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for National Oilwell Varco Inc. (NOV) is a “Overweight”. 30 analysts offering their recommendations for the stock have an average rating of 2.60, where 13 rate it as a Hold and 4 think it is a “Overweight”. 10 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.
National Oilwell Varco Inc. is expected to release its quarterly report on 10/28/2020 and quarterly earnings per share for the current quarter are estimated at -$0.12 with sales reaching $1.38B over the same period.The EPS is expected to shrink by -127.90% this year, but quarterly earnings will post -28.10% year-over-year. Quarterly sales are estimated to shrink -35.00% in year-over-year returns.
National Oilwell Varco Inc. (NOV) Top Institutional Holders
727 institutions hold shares in National Oilwell Varco Inc. (NOV), with 1.62M shares held by insiders accounting for 0.42% while institutional investors hold 98.89% of the company’s shares. The shares outstanding are 388.28M, and float is at 386.40M with Short Float at 3.83%. Institutions hold 98.47% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 45.64 million shares valued at $448.63 million. The investor’s holdings represent 11.75% of the NOV Shares outstanding. As of Jun 29, 2020, the second largest holder is Pzena Investment Management, LLC with 31.57 million shares valued at $386.75 million to account for 8.13% of the shares outstanding. The other top investors are Blackrock Inc. which holds 27.22 million shares representing 7.01% and valued at over $267.59 million, while Dodge & Cox Inc holds 6.70% of the shares totaling 26.0 million with a market value of $255.61 million.
National Oilwell Varco Inc. (NOV) Insider Activity
A total of 44 insider transactions have happened at National Oilwell Varco Inc. (NOV) in the last six months, with sales accounting for 23 and purchases happening 21 times. The most recent transaction is an insider purchase by Bayardo Jose A, the company’s Senior VP and CFO. SEC filings show that Bayardo Jose A bought 8,500 shares of the company’s common stock on Mar 18 at a price of $8.24 per share for a total of $70005.0. Following the purchase, the insider now owns 0.25 million shares.
National Oilwell Varco Inc. disclosed in a document filed with the SEC on Mar 16 that Bayardo Jose A (Senior VP and CFO) bought a total of 11,500 shares of the company’s common stock. The trade occurred on Mar 16 and was made at $8.85 per share for $0.1 million. Following the transaction, the insider now directly holds 0.25 million shares of the NOV stock.
Still, SEC filings show that on Feb 21, Duff Scott K. (VP Cntrlr Chf Acctg Offcr) disposed off 7,134 shares at an average price of $23.30 for $0.17 million. The insider now directly holds 35,587 shares of National Oilwell Varco Inc. (NOV).
National Oilwell Varco Inc. (NOV): Who are the competitors?
The company’s main competitors (and peers) include Oil States International Inc. (OIS) that is trading -66.67% down over the past 12 months. Dril-Quip Inc. (DRQ) is -30.76% down on the 1-year trading charts. Short interest in the company’s stock has fallen -21.16% from the last report on Jun 14, 2020 to stand at a total of 17.92 million short shares sold with a short interest ratio of 2.71.