What’s Ahead for National-Oilwell Varco, Inc. After Today’s Bullish Options Activity?

 What's Ahead for National Oilwell Varco, Inc. After Today's Bullish Options Activity?

In today’s session National-Oilwell Varco, Inc. (NOV) registered an unusually high (144) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious NOV increase. With 144 contracts traded and 764 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: NOV161021C00036500 closed last at: $1 or 25.9% down. About 2.63M shares traded hands. National-Oilwell Varco, Inc. (NYSE:NOV) has risen 16.98% since March 2, 2016 and is uptrending. It has outperformed by 8.73% the S&P500.

Analysts await National-Oilwell Varco, Inc. (NYSE:NOV) to report earnings on October, 27 before the open. They expect $-0.29 EPS, down 137.66% or $1.06 from last year’s $0.77 per share. After $-0.30 actual EPS reported by National-Oilwell Varco, Inc. for the previous quarter, Wall Street now forecasts -3.33% EPS growth.

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

Out of 24 analysts covering National Oilwell Varco (NYSE:NOV), 6 rate it a “Buy”, 6 “Sell”, while 12 “Hold”. This means 25% are positive. National Oilwell Varco has been the topic of 58 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The stock has “Perform” rating given by Oppenheimer on Tuesday, January 12. The stock of National-Oilwell Varco, Inc. (NYSE:NOV) earned “Sector Perform” rating by RBC Capital Markets on Thursday, February 4. FBR Capital maintained it with “Outperform” rating and $55 target price in Thursday, July 30 report. The rating was downgraded by Societe Generale on Wednesday, May 4 to “Sell”. The firm has “Hold” rating by Argus Research given on Wednesday, August 5. The firm has “Sell” rating by Citigroup given on Monday, October 5. The stock has “Market Perform” rating given by Cowen & Co on Friday, April 29. Vetr upgraded National-Oilwell Varco, Inc. (NYSE:NOV) rating on Tuesday, September 22. Vetr has “Strong-Buy” rating and $41.90 price target. Johnson Rice upgraded the shares of NOV in a report on Friday, July 29 to “Accumulate” rating. Credit Suisse maintained the shares of NOV in a report on Friday, September 4 with “Underperform” rating.

According to Zacks Investment Research, “National-Oilwell is a worldwide leader in the design, manufacture and sale of machinery and equipment and in the distribution of maintenance, repair and operating products used in oil and gas drilling and production. The Company’s machinery and equipment include drawworks, mud pumps and power swivels, which are the major mechanical components of rigs used to drill oil and gas wells. Many of these components are designed specifically for applications in offshore, extended reach and deep land drilling.”

Insitutional Activity: The institutional sentiment decreased to 0.95 in 2016 Q2. Its down 0.04, from 0.99 in 2016Q1. The ratio fall, as 67 funds sold all National-Oilwell Varco, Inc. shares owned while 211 reduced positions. 67 funds bought stakes while 198 increased positions. They now own 354.18 million shares or 3.12% less from 365.59 million shares in 2016Q1.
Dupont Capital Mgmt last reported 0.02% of its portfolio in the stock. Ajo L P has invested 0.09% of its portfolio in National-Oilwell Varco, Inc. (NYSE:NOV). Barclays Public Limited Co holds 185,590 shares or 0.01% of its portfolio. Scotia has 0% invested in the company for 6,269 shares. Nelson Van Denburg And Campbell Wealth Gru Ltd accumulated 0.02% or 1,110 shares. Kcg last reported 57,569 shares in the company. Swiss National Bank has 1.05 million shares for 0.06% of their US portfolio. First Interstate Bank has 0% invested in the company for 87 shares. Fernwood Mngmt Ltd Co reported 12,982 shares or 0.43% of all its holdings. Avalon Advisors Limited Liability Co reported 13,086 shares or 0.02% of all its holdings. Blackrock Advsr Limited Company has 414,999 shares for 0.01% of their US portfolio. Cadence Capital Mgmt Ltd Limited Liability Company accumulated 9,256 shares or 0.02% of the stock. Euclid Advsr Llc holds 6,740 shares or 0.01% of its portfolio. Sei Invs has invested 0.11% of its portfolio in National-Oilwell Varco, Inc. (NYSE:NOV). High Pointe Cap Mngmt holds 0.57% or 11,100 shares in its portfolio.

Insider Transactions: Since August 5, 2016, the stock had 0 buys, and 1 insider sale for $106,260 net activity. The insider Duff Scott K. sold $106,260.

National Oilwell Varco, Inc. is engaged in providing design, manufacture and sale of equipment and components used in gas and oil drilling, completion and production operations. The company has a market cap of $13.81 billion. The Firm operates through four divisions: Rig Systems, which makes and supports the capital equipment and integrated systems needed to drill gas and oil wells on land and offshore; Rig Aftermarket, which provides aftermarket services and products to support land and offshore rigs, and drilling rig components manufactured by the Company’s Rig Systems segment; Wellbore Technologies, which sells and rents solids control equipment, and provides solids control, waste management and drilling fluids services, and Completion & Production Solutions, which provides technologies for well completions and gas and oil production. It currently has negative earnings. The Firm also provides oilfield services to the upstream gas and oil industry.

NOV Company Profile

National Oilwell Varco, Inc. (NOV), incorporated on July 14, 1995, is engaged in providing design, manufacture and sale of equipment and components used in gas and oil drilling, completion and production operations. The Firm operates through four divisions: Rig Systems, Rig Aftermarket, Wellbore Technologies, and Completion & Production Solutions. The Firm also provides oilfield services to the upstream gas and oil industry. The Firm conducts activities in approximately 830 locations across the world.

Another recent and important National-Oilwell Varco, Inc. (NYSE:NOV) news was published by Seekingalpha.com which published an article titled: “National Oilwell Varco: More Upside Ahead” on September 18, 2016.

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