Shares of National Oilwell Varco (NOV) Rally 3.53%

National Oilwell Varco (NOV) has been under a strong bear grip, hence the stock is down -8.11% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2% in the past 1 week. The stock has risen by 3.53% in the past week indicating that the buyers are active at lower levels, but the stock is down -4.09% in the past 4 weeks. The stock has recorded a 20-day Moving Average of 0.45% and the 50-Day Moving Average is 1.56%.

National Oilwell Varco (NYSE:NOV): The stock was completely flat for the day, closing at $33.74 on Friday. The flat closing masks the intraday volatility in the stock. After opening at $34.00, the stock touched an intraday high of $34.00 and a low of $33.39. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $33.74. The total trading volume on Friday was 2,492,456.


The company Insiders own 0.17% of National Oilwell Varco shares according to the proxy statements. Institutional Investors own 96.4% of National Oilwell Varco shares. In a related news,The director of National Oilwell Varco Inc, Harrison David D sold 16,352 shares at $38.79 on November 9, 2015. The Insider selling transaction had a total value worth of $634,294. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.