Revenue Update on National-Oilwell Varco(NYSE:NOV)

National-Oilwell Varco(NYSE:NOV) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $1.72B. Analysts estimated a revenue of $1.79B. Earnings per share were $-0.30. Analysts had estimated an EPS of $-0.32.

In a different note, On Jul 11, 2016, Jefferies said it Maintains its rating on National-Oilwell Varco. In the research note, the firm Raises the price-target to $30.00 per share. The shares have been rated ‘Hold’ by the firm. On Jun 13, 2016, Bank of America said it Reinstates its rating on National-Oilwell Varco. The shares have been rated ‘Underperform’ by the firm. On May 4, 2016, Societe Generale said it Downgrades its rating on National-Oilwell Varco. The shares have been rated ‘Sell’ by the firm.

National-Oilwell Varco (NOV) shares turned negative on Thursdays trading session with the shares closing down -0.1 points or -0.31% at a volume of 21,22,434. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $32.915. The peak price level was also seen at $32.915 while the days lowest was $32.34. Finally the shares closed at $32.56. The 52-week high of the shares is $42.62 while the 52-week low is $25.74. According to the latest information available, the market cap of the company is $12,277 M.

Several Insider Transactions has been reported to the SEC. On Nov 10, 2015, David D Harrison (director) sold 16,352 shares at $38.79 per share price.Also, 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.

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