National Oilwell Varco Inc. (NOV): Today's Featured Basic Materials Laggard
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.
(
) pushed the Basic Materials sector lower today making it today's featured Basic Materials laggard. The sector as a whole closed the day down 0.3%. By the end of trading, National Oilwell Varco fell $1.11 (-1.4%) to $78.01 on average volume. Throughout the day, 2,804,350 shares of National Oilwell Varco exchanged hands as compared to its average daily volume of 2,961,900 shares. The stock ranged in price between $77.81-$78.69 after having opened the day at $78.65 as compared to the previous trading day's close of $79.12. Other companies within the Basic Materials sector that declined today were:
(
), down 27.5%,
(
), down 13.0%,
(
TheStreet Recommends
), down 12.1% and
(
), down 10.9%.
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. National Oilwell Varco has a market cap of $33.6 billion and is part of the energy industry. Shares are up 15.1% year to date as of the close of trading on Thursday. Currently there are 11 analysts that rate National Oilwell Varco a buy, 1 analyst rates it a sell, and 2 rate it a hold.
TheStreet Ratings rates
National Oilwell Varco
as a
. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
- You can view the full National Oilwell Varco Ratings Report.
On the positive front,
Andatee China Marine Fuel Services Corporat
(
), up 61.8%,
(
), up 16.7%,
Kimber Resources
(
KBXR
), up 16.7% and
GMX Resources
(
GMXRQ
), up 15.1% , were all gainers within the basic materials sector with
(
) being today's featured basic materials sector leader.
- Use our basic materials section to find sector-relevant news.
- Or find some new ideas from our top rated stocks lists.
For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the basic materials sector could consider
(
) while those bearish on the basic materials sector could consider
ProShares Short Basic Materials Fd
(
).
- Find other investment ideas from our top rated ETFs lists.
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