National Oilwell Varco, Inc. (NYSE:NOV) has a beta value of 1.81 and has seen 2,495,302 shares traded in the recent trading session. The company, currently valued at $4.76 Billion, closed the recent trade at $12.26 per share which meant it gained $0.1 on the day or 0.86% during that session. The NOV stock price is -110.52% off its 52-week high price of $25.81 and 34.75% above the 52-week low of $8. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5.12 Million shares traded. The 3-month trading volume is 4.75 Million shares.
The consensus among analysts is that National Oilwell Varco, Inc. (NOV) is an Overweight stock at the moment, with a recommendation rating of 2.6. 2 analysts rate the stock as a Sell, while 4 rate it as Overweight. 13 out of 30 have rated it as a Hold, with 10 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.12.
National Oilwell Varco, Inc. (NYSE:NOV) trade information
Sporting 0.45% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Monday, Jun 29 when the NOV stock price touched $12.52- or saw a rise of 3.31%. Year-to-date, National Oilwell Varco, Inc. shares have moved -51.68%, while the 5-day performance has seen it change -0.21%. Over the past 30 days, the shares of National Oilwell Varco, Inc. (NYSE:NOV) have changed -2.93%. Short interest in the company has seen 17.92 Million shares shorted with days to cover at 3.77.
Wall Street analysts have a consensus price target for the stock at $12.8, which means that the shares’ value could jump 4.4% from current levels. The projected low price target is $8 while the price target rests at a high of $17.5. In that case, then, we find that the current price level is +42.74% off the targeted high while a plunge would see the stock lose -34.75% from current levels.
National Oilwell Varco, Inc. (NOV) estimates and forecasts
Figures show that National Oilwell Varco, Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -51.28% over the past 6 months, with this year growth rate of -52.78%, compared to 1.7% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are -700% and -500% for the next quarter. Revenue growth from the last financial year stood is estimated to be -25.5%.
20 analysts offering their estimates for the company have set an average revenue estimate of $1.57 Billion for the current quarter. 20 have an estimated revenue figure of $1.44 Billion for the next quarter concluding in September 01, 2020. Year-ago sales stood $2.13 Billion and $2.13 Billion respectively for this quarter and the next, and analysts expect sales will grow by -26.5% for the current quarter and -32.3% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -36.9% over the past 5 years. Earnings growth for 2020 is a modest -137.9% while over the next 5 years, the company’s earnings are expected to increase by 41%.
National Oilwell Varco, Inc. (NYSE:NOV)’s Major holders
Insiders own 0.42% of the company shares, while shares held by institutions stand at 98.47% with a share float percentage of 98.89%. Investors are also buoyed by the number of investors in a company, with National Oilwell Varco, Inc. having a total of 727 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 45.64 Million shares worth more than $448.63 Million. As of March 30, 2020, Vanguard Group, Inc. (The) held 11.76% of shares outstanding.
The other major institutional holder is Pzena Investment Management, LLC, with the holding of over 31.82 Million shares as of March 30, 2020. The firm’s total holdings are worth over $312.76 Million and represent 8.2% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Dodge & Cox Stock Fund and First Eagle Global Fund. As of March 30, 2020, the former fund manager holds about 4.5% shares in the company for having 17463009 shares of worth $171.66 Million while later fund manager owns 16.64 Million shares of worth $342.91 Million as of January 30, 2020, which makes it owner of about 4.29% of company’s outstanding stock.