What’s in National-Oilwell Varco, Inc. After Today’s Bearish Options Activity?

 What's in National Oilwell Varco, Inc. After Today's Bearish Options Activity?

In today’s session National-Oilwell Varco, Inc. (NOV) recorded an unusually high (1,001) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious NOV decrease. With 1,001 contracts traded and 65854 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: NOV170120P00025000 closed last at: $0.39 or 9.3% down. About 879,094 shares traded hands. National-Oilwell Varco, Inc. (NYSE:NOV) has risen 9.82% since April 5, 2016 and is uptrending. It has outperformed by 7.86% the S&P500.

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

Out of 24 analysts covering National Oilwell Varco (NYSE:NOV), 6 rate it a “Buy”, 5 “Sell”, while 13 “Hold”. This means 25% are positive. $55 is the highest target while $18 is the lowest. The $32.39 average target is 0.56% above today’s ($32.21) stock price. National Oilwell Varco has been the topic of 59 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Thursday, July 30 by FBR Capital. Argus Research downgraded the stock to “Hold” rating in Wednesday, August 5 report. Vetr upgraded National-Oilwell Varco, Inc. (NYSE:NOV) on Tuesday, September 22 to “Strong-Buy” rating. The rating was maintained by Cowen & Co with “Market Perform” on Friday, April 29. Morgan Stanley upgraded National-Oilwell Varco, Inc. (NYSE:NOV) rating on Wednesday, April 27. Morgan Stanley has “Overweight” rating and $45 price target. The stock has “Buy” rating given by Guggenheim on Monday, November 30. Credit Suisse maintained it with “Underperform” rating and $33 target price in Friday, September 4 report. The rating was upgraded by JP Morgan to “Underweight” on Wednesday, August 26. Cowen & Co maintained National-Oilwell Varco, Inc. (NYSE:NOV) rating on Thursday, February 4. Cowen & Co has “Market Perform” rating and $25 price target. The rating was downgraded by Citigroup to “Sell” on Monday, October 3.

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 turned negative, 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.
Comerica Secs Incorporated last reported 0.21% of its portfolio in the stock. Moreover, California State Teachers Retirement Systems has 0.06% invested in National-Oilwell Varco, Inc. (NYSE:NOV) for 822,955 shares. The Ontario – Canada-based Scotia Cap Inc has invested 0% in National-Oilwell Varco, Inc. (NYSE:NOV). Fort Washington Advisors Inc Oh has invested 0.04% of its portfolio in National-Oilwell Varco, Inc. (NYSE:NOV). Reliance Tru Of Delaware last reported 0.07% of its portfolio in the stock. Royal London Asset Management Ltd holds 0.07% of its portfolio in National-Oilwell Varco, Inc. (NYSE:NOV) for 133,514 shares. Jpmorgan Chase & owns 636,626 shares or 0.01% of their US portfolio. Da Davidson And Comm accumulated 0.05% or 46,273 shares. The Illinois-based Ariel Investments Ltd Com has invested 0.75% in National-Oilwell Varco, Inc. (NYSE:NOV). Apg Asset Mngmt Nv holds 0.03% of its portfolio in National-Oilwell Varco, Inc. (NYSE:NOV) for 447,412 shares. Franklin Resources Inc holds 31,258 shares or 0% of its portfolio. Moreover, Commonwealth Financial Bank Of Aus has 0.03% invested in National-Oilwell Varco, Inc. (NYSE:NOV) for 87,459 shares. The Massachusetts-based Bollard Gru Limited Liability has invested 0% in National-Oilwell Varco, Inc. (NYSE:NOV). Swedbank has 0.59% invested in the company for 2.07 million shares. Moreover, Piedmont Advsr Ltd has 0% invested in National-Oilwell Varco, Inc. (NYSE:NOV) for 5 shares.

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

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 $11.91 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.

More recent National-Oilwell Varco, Inc. (NYSE:NOV) news were published by: Fool.com which released: “National Oilwell Varco, Inc. Still Hasn’t Hit Bottom Just Yet” on October 27, 2016. Also Investorplace.com published the news titled: “Why Groupon Inc (GRPN), Nokia Corp (ADR) (NOK) and National-Oilwell Varco, Inc …” on October 27, 2016. Nasdaq.com‘s news article titled: “Agree To Purchase National Oilwell Varco At $18, Earn 9% Using Options” with publication date: November 02, 2016 was also an interesting one.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment