Can National-Oilwell Varco, Inc.’s Tomorrow Be Different? Option Trader Are Very Bearish

 Can National Oilwell Varco, Inc.'s Tomorrow Be Different? Option Trader Are Very Bearish

In today’s session National-Oilwell Varco, Inc. (NOV) recorded an unusually high (269) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the February, 2017 put, expecting serious NOV decrease. With 269 contracts traded and 1764 open interest for the Feb, 17 contract, it seems this is a quite bearish bet. The option with symbol: NOV170217P00035000 closed last at: $1.87 or 2.6% down. The stock closed at $36.35 during the last session. It is down 24.19% since April 22, 2016 and is uptrending. It has outperformed by 18.78% the S&P500.

Analysts await National-Oilwell Varco, Inc. (NYSE:NOV) to report earnings on February, 1. They expect $-0.28 earnings per share, down 170.00% or $0.68 from last year’s $0.4 per share. After $-0.34 actual earnings per share reported by National-Oilwell Varco, Inc. for the previous quarter, Wall Street now forecasts -17.65% 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”, 4 “Sell”, while 14 “Hold”. This means 25% are positive. National Oilwell Varco has been the topic of 60 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Monday, November 2 by Howard Weil. Cowen & Co maintained National-Oilwell Varco, Inc. (NYSE:NOV) rating on Thursday, February 4. Cowen & Co has “Market Perform” rating and $25 price target. Bank of America maintained the shares of NOV in a report on Monday, June 13 with “Underperform” rating. Barclays Capital downgraded the shares of NOV in a report on Wednesday, April 20 to “Equal-Weight” rating. Morgan Stanley upgraded the shares of NOV in a report on Wednesday, April 27 to “Overweight” rating. Johnson Rice upgraded the stock to “Accumulate” rating in Friday, July 29 report. The stock has “Market Perform” rating given by Cowen & Co on Friday, April 29. The stock of National-Oilwell Varco, Inc. (NYSE:NOV) earned “Hold” rating by Societe Generale on Monday, October 31. Jefferies maintained the shares of NOV in a report on Monday, July 11 with “Hold” rating. The rating was maintained by Citigroup on Monday, October 5 with “Sell”.

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 0.88 in 2016 Q2. Its down 0.07, from 0.95 in 2016Q1. The ratio worsened, 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.
Signaturefd Limited Liability Com accumulated 1,470 shares or 0.01% of the stock. Independent Order Of Foresters has invested 0.25% of its portfolio in National-Oilwell Varco, Inc. (NYSE:NOV). Qv Investors, a Alberta – Canada-based fund reported 959,522 shares. Koshinski Asset Management Inc last reported 0% of its portfolio in the stock. Plante Moran Advsrs has invested 0% of its portfolio in National-Oilwell Varco, Inc. (NYSE:NOV). Department Mb Finance Bancorp N A accumulated 0.01% or 1,444 shares. Liberty Mutual Grp Asset accumulated 0.03% or 25,792 shares. Aviva Public Limited Co last reported 237,440 shares in the company. Pinnacle Associates Limited, a New York-based fund reported 93,175 shares. Telemus Capital Ltd Liability Com last reported 12,990 shares in the company. Dynamic Ltd accumulated 0.33% or 83,942 shares. Holt Dba Holt Prtn L P accumulated 10,980 shares or 0.15% of the stock. Skba Management Ltd Limited Liability Company owns 345,295 shares or 1.08% of their US portfolio. Schwab Charles Inv Mngmt has 1.29M shares for 0.05% of their US portfolio. Murphy Pohlad Asset Management Ltd Liability Corp accumulated 0.18% or 7,088 shares.

Insider Transactions: Since August 5, 2016, the stock had 0 insider buys, and 1 sale for $106,260 net activity. 3,181 shares were sold by Duff Scott K., worth $106,260 on Friday, August 5.

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 $13.69 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 news for National-Oilwell Varco, Inc. (NYSE:NOV) were recently published by: Blogs.Wsj.com, which released: “National Oilwell Varco Settles Sanctions-Violations Case” on November 14, 2016. Fool.com‘s article titled: “National Oilwell Varco, Inc. Still Hasn’t Hit Bottom Just Yet” and published on October 27, 2016 is yet another important article.

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