National Oilwell Varco down nearly 10% in two days after Q1 warning [Seeking Alpha]
NOV Inc. (NOV)
Last nov inc. earnings: 4/27 06:45 pm
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Source: Seeking Alpha
National Oilwell Varco down nearly 10% in two days after Q1 warningNational Oilwell Varco (NOV-2.6%) extends its losses a day afterwarning of lower than expected Q1 revenues, citing weaker shipments of subsea production equipment and reduced progress on new offshore rig construction.B. Riley FBRdowngrades NOV to Neutral from Buy and lowers its price target to $40 from $42 on heightened risk of a more volatile, if not sustained slower, rate of newbuild-related orders by oilfield service contractors, especially pressure pumpers.For large-cap exposure, B. Riley FBR recommends a rotation of funds from NOV to its new large-cap top pick Schlumberger (SLB+0.2%), which the firm likes due to its hybrid revenue splits for global onshore/offshore oilfield services of 60%/40% and its unique strengths in the international onshore and global deepwater markets.See all stocks on the move »Now read:Double-Digit Growth Fuels Schlumberger's 20% Upside »
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NOV
News
- Nov Inc. (NOV) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates [Yahoo! Finance]Yahoo! Finance
- Nov Inc. (NOV) Tops Q1 Earnings and Revenue Estimates [Yahoo! Finance]Yahoo! Finance
- NOV Reports First Quarter 2024 Results, Return of Capital Framework, $1 Billion Share Repurchase Authorization, and Plan to Increase Dividend 50% [Yahoo! Finance]Yahoo! Finance
- NOV Reports First Quarter 2024 Results, Return of Capital Framework, $1 Billion Share Repurchase Authorization, and Plan to Increase Dividend 50%Business Wire
- Earnings Preview: Nov Inc. (NOV) Q1 Earnings Expected to Decline [Yahoo! Finance]Yahoo! Finance
NOV
Earnings
- 4/25/24 - Beat
NOV
Sec Filings
- 4/4/24 - Form ARS
- 4/4/24 - Form DEFA14A
- 4/4/24 - Form DEF
- NOV's page on the SEC website