Favorable Press Coverage Very Likely to Impact National Oilwell Varco (NYSE:NOV) Stock Price
News stories about National Oilwell Varco (NYSE:NOV) have been trending positive recently, according to Accern Sentiment Analysis. The research group ranks the sentiment of press coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. National Oilwell Varco earned a media sentiment score of 0.28 on Accern’s scale. Accern also gave media headlines about the oil and gas exploration company an impact score of 82 out of 100, meaning that recent press coverage is very likely to have an impact on the company’s share price in the near future.
Here are some of the news stories that may have impacted Accern Sentiment Analysis’s rankings:
- Bank Of Montreal /can/ Decreases Its Position in National Oilwell Varco, Inc. (NOV) Stock Last Quarter (highlightpress.com)
- What’s the Short Interest in National Oilwell Varco on July 7? (finance.yahoo.com)
- National Oilwell Varco, Inc. (NOV) Lowered to “Sell” at Zacks Investment Research (americanbankingnews.com)
- National Oilwell Varco Stock for 1 Year as of July 7 (finance.yahoo.com)
- National Oilwell Varco’s (NYSE:NOV) “Market Perform” Rating Reiterated at Wells Fargo & Company (americanbankingnews.com)
Several equities analysts have weighed in on the company. Vetr lowered National Oilwell Varco from a “strong-buy” rating to a “buy” rating and set a $44.47 price objective for the company. in a report on Wednesday, March 29th. Jefferies Group LLC reissued a “hold” rating and set a $36.00 price objective on shares of National Oilwell Varco in a report on Tuesday, April 11th. R. F. Lafferty assumed coverage on National Oilwell Varco in a report on Thursday, April 6th. They set a “hold” rating and a $39.00 price objective for the company. Tudor Pickering assumed coverage on National Oilwell Varco in a report on Thursday, March 23rd. They set a “hold” rating for the company. Finally, Scotiabank reissued a “hold” rating and set a $37.00 price objective on shares of National Oilwell Varco in a report on Wednesday, March 22nd. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.35.
National Oilwell Varco (NOV) traded up 0.24% during midday trading on Wednesday, reaching $33.27. The company had a trading volume of 744,235 shares. The firm has a 50-day moving average price of $33.20 and a 200-day moving average price of $36.96. National Oilwell Varco has a 52 week low of $29.79 and a 52 week high of $43.63. The company’s market capitalization is $12.64 billion.
National Oilwell Varco (NYSE:NOV) last released its quarterly earnings data on Wednesday, April 26th. The oil and gas exploration company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.03. National Oilwell Varco had a negative net margin of 35.50% and a negative return on equity of 2.44%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm earned ($0.06) EPS. The business’s revenue was down 20.5% on a year-over-year basis. Analysts expect that National Oilwell Varco will post ($0.40) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Wednesday, June 14th. National Oilwell Varco’s dividend payout ratio (DPR) is presently -3.12%.
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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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