Somewhat Positive Press Coverage Somewhat Unlikely to Affect National Oilwell Varco (NYSE:NOV) Stock Price
News stories about National Oilwell Varco (NYSE:NOV) have been trending somewhat positive on Thursday, Accern Sentiment reports. The research group identifies negative and positive press coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. National Oilwell Varco earned a daily sentiment score of 0.16 on Accern’s scale. Accern also assigned media headlines about the oil and gas exploration company an impact score of 45.9262579096717 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the news stories that may have impacted Accern Sentiment Analysis’s analysis:
- Contrarius Investment Management Ltd Significantly Raises Its Position in National Oilwell Varco, Inc. (NOV) Stock – Modern Readers (modernreaders.com)
- 3 Things National-Oilwell Varco, Inc.’s CEO Wants You to Know – Madison.com (host.madison.com)
- Q3 2017 EPS Estimates for National Oilwell Varco, Inc. (NYSE:NOV) Boosted by SunTrust Banks (americanbankingnews.com)
- Contrarius Investment Management Ltd Bought A Lot More National Oilwell Varco, Inc. (NOV) Stock In The Last Quarter – First News 24 (firstnewspaper24.com)
- National Oilwell Varco, Inc. (NOV) Investment Up in Latest Report from Contrarius Investment Management Ltd – First News 24 (firstnewspaper24.com)
Shares of National Oilwell Varco (NYSE NOV) traded down 1.49% during mid-day trading on Thursday, hitting $30.35. The stock had a trading volume of 3,661,864 shares. The stock’s 50-day moving average is $32.74 and its 200 day moving average is $35.83. National Oilwell Varco has a 12 month low of $30.29 and a 12 month high of $43.63. The company’s market cap is $11.53 billion.
National Oilwell Varco (NYSE:NOV) last released its earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). National Oilwell Varco had a negative return on equity of 2.12% and a negative net margin of 33.24%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the business posted ($0.30) earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts forecast that National Oilwell Varco will post ($0.40) earnings per share for the current fiscal year.
Several brokerages recently weighed in on NOV. BMO Capital Markets set a $30.00 price objective on National Oilwell Varco and gave the stock a “sell” rating in a report on Wednesday, April 12th. Zacks Investment Research lowered National Oilwell Varco from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Jefferies Group LLC set a $38.00 price objective on National Oilwell Varco and gave the stock a “hold” rating in a report on Thursday, April 27th. BidaskClub raised National Oilwell Varco from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Piper Jaffray Companies set a $37.00 price objective on National Oilwell Varco and gave the stock a “buy” rating in a report on Thursday, July 27th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $38.59.
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About National Oilwell Varco
National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.
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