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Early Morning Activity Shows National Oilwell Varco (NOV) Down

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified National Oilwell Varco ( NOV) as a pre-market laggard candidate. In addition to specific proprietary factors, Trade-Ideas identified National Oilwell Varco as such a stock due to the following factors:

  • NOV has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $305.7 million.
  • NOV traded 17,962 shares today in the pre-market hours as of 9:23 AM.
  • NOV is down 3.3% today from yesterday's close.

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More details on NOV:

National Oilwell Varco, Inc. provides equipment and components for oil and gas drilling and production; oilfield services; and supply chain integration services to the upstream oil and gas industry worldwide. The stock currently has a dividend yield of 1.4%. NOV has a PE ratio of 13.7. Currently there are 12 analysts that rate National Oilwell Varco a buy, 1 analyst rates it a sell, and 5 rate it a hold.

The average volume for National Oilwell Varco has been 4.2 million shares per day over the past 30 days. National Oilwell Varco has a market cap of $35.4 billion and is part of the basic materials sector and energy industry. The stock has a beta of 2.06 and a short float of 3.2% with 3.30 days to cover. Shares are up 4.2% year-to-date as of the close of trading on Thursday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates National Oilwell Varco as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

Highlights from the ratings report include:

  • Despite its growing revenue, the company underperformed as compared with the industry average of 9.2%. Since the same quarter one year prior, revenues slightly increased by 8.6%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • NOV's debt-to-equity ratio is very low at 0.14 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.25, which illustrates the ability to avoid short-term cash problems.
  • Net operating cash flow has significantly increased by 89.75% to $1,518.00 million when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 49.45%.
  • Compared to where it was a year ago today, the stock is now trading at a higher level, regardless of the company's weak earnings results. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.

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