43.19 0.00 (0.00%)
After hours: 4:42PM EDT
|Bid||0.00 x 3100|
|Ask||0.00 x 4000|
|Day's Range||42.69 - 43.45|
|52 Week Range||29.90 - 46.00|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.20 (0.45%)|
|1y Target Est||N/A|
The short interest in National Oilwell Varco (NOV) as a percentage of its float was 5.9% as of July 16. In the past year, the short interest in National Oilwell Varco decreased 17.5%. So, investors decreased their negative bets on National Oilwell Varco. During this period, National Oilwell Varco’s stock price increased ~29%.
On July 18, Microsoft (MSFT) struck a deal with the leading supplier of technology, equipment, and services to the global oil and gas industry, National Oilwell Varco (NOV), to boost the sales of its popular Microsoft Dynamics 365 suites. Microsoft Dynamics 365 powered with intelligence tools is slated to help National Oilwell Varco forecast sales, manage inventory, and drive field service operations with a digital, mobile-first approach. Thus, the successful deployment of Microsoft Dynamics 365 may help the oil equipment provider boost revenue by improving productivity and efficiency.
As of July 16, National Oilwell Varco’s (NOV) implied volatility was ~30.5%. National Oilwell Varco’s first-quarter earnings were announced on April 26. Since then, the implied volatility has decreased from ~32% to this level. Since April 26, National Oilwell Varco’s stock price has increased 14%. Implied volatility points to a stock’s potential movement, as viewed by the investors.
National Oilwell Varco’s (NOV) one-year returns were ~29% until July 16. In comparison, since July 17, 2017, the Energy Select Sector SPDR ETF (XLE) increased ~15%. XLE tracks an index of US energy companies. The VanEck Vectors Oil Services ETF (OIH) witnessed 2% one-year returns. OIH tracks an index of 25 oilfield equipment and services companies. So, National Oilwell Varco outperformed XLE and OIH in the past year.
From the first quarter of 2017 to the first quarter of 2018, National Oilwell Varco’s (NOV) Wellbore Technologies segment’s revenue rose 28%. The segment had the highest revenue rise among National Oilwell Varco’s operating segments in the first quarter. The Rig Technologies segment’s revenue fell 17% year-over-year in the first quarter.
In the second quarter, Wall Street analysts expect an adjusted EPS of $0.02 for National Oilwell Varco (NOV). Analysts expect National Oilwell Varco to switch to an adjusted profit compared to its first-quarter adjusted loss of $0.21 per share. Management expects higher demand for the rotary steerable systems product lines, higher demand for onshore drilling products, and higher sales of high-specification rigs in Latin America. The improvements could result in the higher earnings for National Oilwell Varco in the second quarter.
As of July 12, the short interest in TETRA Technologies (TTI) as a percentage of its float was 4.6%—compared to 6.0% as of July 12, 2017. Since July 12, 2017, the short interest in TETRA Technologies has fallen 18%. So, investors decreased the negative bets on TETRA Technologies in the past year. In the past year, the stock price has increased 71%.
Halliburton’s (HAL) first-quarter financial results were released on April 23. From April 23 to July 6, Halliburton’s implied volatility has increased from 25.0% to 28.0%. The company’s stock price decreased 14.0% during this period. Stock price forecast for Halliburton
Short interest in TechnipFMC (FTI) as a percentage of its float is 2.0% as of July 10 compared to 3.05% a year ago. Since July 10, 2017, short interest in FTI has decreased 34%. So, investors have decreased negative bets on FTI in the past year. Since July 10, 2017, FTI’s stock price has increased 15.5%.
Short interest in Halliburton (HAL) as a percentage of its float was 1.47% on July 6, compared to 3.23% on July 6, 2017. Short interest in HAL stock has decreased 54.0% since July 6, 2017. So, investors have decreased their negative bets on HAL in the past year. Since July 6, 2017, HAL’s stock price has increased ~7.5%. Short interest in Halliburton’s peers
Astute readers of Barron’s are familiar with investment firm Dalton Greiner Hartman Maher, which we’ve profiled a number of times, most recently about two years ago. DGHM, which has investments across all market capitalizations, has a reputation for expertise in finding value in smaller, lesser-known names. In fact, $1.2 billion of the total assets of $1.9 billion that the firm manages is invested in its DGHM V2000 SmallCap Value strategy, which launched in 1994.
The Zacks Analyst Blog Highlights: Enbridge, Chevron, Core Laboratories N.V. and National Oilwell Varco
The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Over the last one-month, outflows of investor capital in ETFs holding NOV totaled $2.74 billion.
Schlumberger’s (SLB) first-quarter financial results were released on April 20. Between April 20 and July 3, its implied volatility has increased from 24% to 25%, and SLB stock has fallen 5%. SLB’S current IV (implied volatility) is higher than its past two-year average of 21.2%. Stock price forecast for Schlumberger
The JV with Saudi Aramco seeks to brighten prospects of the energy services sector in Saudi Arabia and boost growth potential of National Oilwell (NOV).
As of June 26, the short interest in Baker Hughes, a GE Company (BHGE), as a percentage of its float was 5.3%—compared to 3.2% as of June 26, 2017. Since June 26, 2017, the short interest in Baker Hughes has increased 66%. So, investors increased the negative bets on Baker Hughes in the past year. Baker Hughes’s stock price has decreased 11% in the past year.
"The joint venture adds to NOV’s growing manufacturing footprint in the Middle East to better serve our customers in the region. This will create jobs and economic growth in both the Kingdom and in our operations around the globe, including the United States."
In this daily bar chart of NOV, below, we can see an uptrend from around $30 in August to $45 in May. There are corrections along the way but the pattern of higher lows and higher highs continues. The volume pattern right below the price chart is hard to interpret but the line chart of the On-Balance-Volume (OBV) line shows a long rise. The Moving Average Convergence Divergence (MACD) oscillator has been above the zero line since March and it is now poised to cross to the upside for a new outright go long signal.
The short interest in Tenaris S.A. (TS) as a percentage of its float was 0.76% as of June 25—compared to 1.5% as of January 1. Since January 1, the short interest in Tenaris has decreased 49%. So, investors’ negative bets on Tenaris have decreased in 2018. Since the beginning of 2018, the company’s stock price has increased 10.8%.
In this series, we have been discussing the five OFS (oilfield equipment and services) companies with the highest “sell” recommendations from Wall Street analysts as of June 25. In this part, we’ll discuss the companies’ stock market returns YTD (year-to-date).