National-Oilwell Varco (NOV) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $-0.06 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $-0.10. The company posted revenue of $2189.00 million in the period, compared to analysts expectations of $2186.31 million. The company’s revenue was down -54.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 EPS.
Many Wall Street Analysts have commented on National-Oilwell Varco. Company shares were Reiterated by Cowen on Apr 29, 2016 to “Market Perform”, Firm has raised the Price Target to $ 28 from a previous price target of $25 .National-Oilwell Varco was Upgraded by Morgan Stanley to ” Overweight” on Apr 27, 2016. Barclays Downgraded National-Oilwell Varco on Apr 20, 2016 to ” Equal Weight”, Price Target of the shares are set at $33.
National-Oilwell Varco opened for trading at $30.47 and hit $32.225 on the upside on Wednesday, eventually ending the session at $31.7, with a gain of 7.93% or 2.33 points. The heightened volatility saw the trading volume jump to 1,02,64,697 shares. Company has a market cap of $11,913 M.
In a different news, on Nov 10, 2015, David D Harrison (director) sold 16,352 shares at $38.79 per share price. According to the SEC, on Apr 30, 2015, Greg L Armstrong (director) sold 5,736 shares at $54.49 per share price. On Apr 30, 2015, Roger L Jarvis (director) sold 5,900 shares at $52.90 per share price, according to the Form-4 filing with the securities and exchange commission.
National Oilwell Varco Inc. (NOV) is engaged in providing design manufacture and sale of equipment and components used in oil and gas drilling completion and production operations. The Company also provides oilfield services to the upstream oil and gas industry. The Company operates through four segments: Rig Systems Rig Aftermarket Wellbore Technologies and Completion & Production Solutions. Its Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore. Its Rig Aftermarket segment provides aftermarket products and services to support land and offshore rigs and drilling rig components manufactured by the Company’s Rig Systems segment. Its Wellbore Technologies segment sells and rents solids control equipment; and provides solids control waste management and drilling fluids services. Its Completion & Production Solutions segment provides technologies for well completions and oil and gas production.