National Oilwell Varco, Inc. NOV was a big mover last session, as the company saw its shares rise more than 10% on Friday. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $42.30 to $45.33 in the past one-month time frame.
The move came after the company reported solid second-quarter 2018 results.
The company has seen two negative estimate revisions in the past month, while its Zacks Consensus Estimate has also moved lower over the same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
National Oilwell Varco currently has a Zacks Rank #3 (Hold), while its Earnings ESP is negative.
National Oilwell Varco, Inc. Price
National Oilwell Varco, Inc. Price | National Oilwell Varco, Inc. Quote
Investors interested in the Oil and Gas – Mechanical and Equitment industry may consider McDermott International, Inc. MDR, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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