National Oilwell Varco Inc. [NOV] Revenue clocked in at $7.79 billion, down -51.50% YTD: What’s Next?

National Oilwell Varco Inc. [NYSE: NOV] surged by $0.16 during the normal trading session on Friday and reaching a high of $12.25 during the day while it closed the day at $12.15. The company report on August 26, 2020 that National Oilwell Varco Announces Results of Tender Offer for Any and All 2.600% Senior Unsecured Notes Due 2022.

National Oilwell Varco, Inc. (the “Company”) (NYSE: NOV) announced today the closing of the previously announced cash tender offer (the “Tender Offer”) to purchase any and all of the outstanding 2.600% Senior Unsecured Notes due 2022 (the “Notes”) issued by the Company. The Tender Offer expired at 5:00 p.m., New York City time, on August 25, 2020 (the “Expiration Time”). The complete terms and conditions of the Tender Offer were set forth in an Offer to Purchase, dated August 19, 2020 (the “Offer to Purchase”), and the related Notice of Guaranteed Delivery.

As of the Expiration Time, $217,068,000 aggregate principal amount of Notes had been validly tendered and not validly withdrawn. This amount excludes $2,963,000 aggregate principal amount of the Notes expected to be tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase. Notes tendered pursuant to the guaranteed delivery procedures must be provided no later than 5:00 p.m., New York City time, on August 27, 2020.

National Oilwell Varco Inc. stock has also loss -1.38% of its value over the past 7 days. However, NOV stock has declined by -26.45% in the 3 months of the year. Over the past six months meanwhile, it has gained 9.07% and lost -51.50% year-on date.

The market cap for NOV stock reached $4.66 billion, with 385.00 million shares outstanding and 361.59 million shares in the current float. Compared to the average trading volume of 5.22M shares, NOV reached a trading volume of 2796605 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about National Oilwell Varco Inc. [NOV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NOV shares is $13.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NOV stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cowen have made an estimate for National Oilwell Varco Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 29, 2020. While these analysts kept the previous recommendation, Barclays raised their target price from $14 to $8. The new note on the price target was released on May 14, 2020, representing the official price target for National Oilwell Varco Inc. stock. Previously, the target price had yet another raise to $17, while Cowen analysts kept a Outperform rating on NOV stock.

The Average True Range (ATR) for National Oilwell Varco Inc. is set at 0.43, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 0.60. The Price to Book ratio for the last quarter was 0.86. Price to Free Cash Flow for NOV in the course of the last twelve months was 5.04 with Quick ratio for the last quarter at 1.90.

NOV stock trade performance evaluation

National Oilwell Varco Inc. [NOV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.38. With this latest performance, NOV shares gained by 1.42% in over the last four-week period, additionally plugging by 9.07% over the last 6 months – not to mention a drop of -45.20% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NOV stock in for the last two-week period is set at 52.76, with the RSI for the last a single of trading hit 50.74, and the three-weeks RSI is set at 49.77 for National Oilwell Varco Inc. [NOV]. The present Moving Average for the last 50 days of trading for this stock 12.03, while it was recorded at 11.98 for the last single week of trading, and 15.83 for the last 200 days.

National Oilwell Varco Inc. [NOV]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and National Oilwell Varco Inc. [NOV] shares currently have an operating margin of -5.25 and a Gross Margin at +10.12. National Oilwell Varco Inc.’s Net Margin is presently recorded at -71.89.

Return on Total Capital for NOV is now -3.27, given the latest momentum, and Return on Invested Capital for the company is -45.21. Return on Equity for this stock declined to -56.44, with Return on Assets sitting at -36.64. When it comes to the capital structure of this company, National Oilwell Varco Inc. [NOV] has a Total Debt to Total Equity ratio set at 35.70. Additionally, NOV Total Debt to Total Capital is recorded at 26.31, with Total Debt to Total Assets ending up at 20.62. Long-Term Debt to Equity for the company is recorded at 34.24, with the Long-Term Debt to Total Capital now at 25.23.

Reflecting on the efficiency of the workforce at the company, National Oilwell Varco Inc. [NOV] managed to generate an average of -$171,792 per employee. Receivables Turnover for the company is 3.28 with a Total Asset Turnover recorded at a value of 0.51.National Oilwell Varco Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 2.90.

Earnings per share (EPS) analysis for National Oilwell Varco Inc. [NOV] stock

With the latest financial reports released by the company, National Oilwell Varco Inc. posted 0.04/share EPS, while the average EPS was predicted by analysts to be reported at 0.12/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -66.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NOV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for National Oilwell Varco Inc. go to 41.00%.

National Oilwell Varco Inc. [NOV]: Insider Ownership positions

There are presently around $4,503 million, or 97.40% of NOV stock, in the hands of institutional investors. The top three institutional holders of NOV stocks are: VANGUARD GROUP INC with ownership of 45,485,414, which is approximately -0.336% of the company’s market cap and around 0.20% of the total institutional ownership; PZENA INVESTMENT MANAGEMENT LLC, holding 31,571,668 shares of the stock with an approximate value of $383.6 million in NOV stocks shares; and BLACKROCK INC., currently with $343.01 million in NOV stock with ownership of nearly 3.71% of the company’s market capitalization.

Positions in National Oilwell Varco Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 203 institutional holders increased their position in National Oilwell Varco Inc. [NYSE:NOV] by around 23,834,069 shares. Additionally, 241 investors decreased positions by around 29,357,360 shares, while 55 investors held positions by with 317,433,564 shares. The mentioned changes placed institutional holdings at 370,624,993 shares, according to the latest SEC report filing. NOV stock had 53 new institutional investments in for a total of 4,143,359 shares, while 71 institutional investors sold positions of 4,257,625 shares during the same period.

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