Shares of National Oilwell Varco (NYSE:NOV) Sees Large Outflow of Money

National Oilwell Varco (NYSE:NOV) : The total money flow in National Oilwell Varco (NYSE:NOV) was negative ($17.41 million), which signals selling by the traders on Wednesdays session. They trimmed their holdings by selling the stock on downticks to the tune of $44.03 million. In comparison, the inflow of money into the stock on upticks was $26.62 million. The uptick to downtick ratio was 0.6. Similarly, the block trades show selling by large traders on strength. The value of stocks sold down on downtick was $20.37 million. The value of transactions on uptick was $4.23 million. The negative money flow of ($16.14 million) confirms the selling in National Oilwell Varco (NYSE:NOV) on strength. The uptick to downtick ratio of block trades was 0.21. National Oilwell Varco (NYSE:NOV) gained $0.94 at $32.93, a gain of 2.94% over the previous days close. However, the stock registered -3.32% in the week.


In an insider trading activity, The Securities and Exchange Commission has divulged that Harrison David D, director of National Oilwell Varco Inc, had unloaded 16,352 shares at an average price of $38.79 in a transaction dated on November 9, 2015. The total value of the transaction was worth $634,294. Currently the company Insiders own 0.17% of National Oilwell Varco shares according to the proxy statements. Institutional Investors own 96.45% of National Oilwell Varco shares.

The company shares have dropped -31.86% from its 1 Year high price. On Jul 1, 2015, the shares registered one year high at $48.47 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $33.38 and the 200 Day Moving Average price is recorded at $31.59. National Oilwell Varco (NYSE:NOV): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $32.57 and $32.03 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $33.26. The buying momentum continued till the end and the stock did not give up its gains. It closed at $32.93, notching a gain of 2.94% for the day. The total traded volume was 5,536,945 . The stock had closed at $31.99 on the previous day.

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 Companys 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.

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