National Oilwell Varco Inc. (NOV): Today's Featured Energy 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.

National Oilwell Varco ( NOV) pushed the Energy industry lower today making it today's featured Energy laggard. The industry as a whole was unchanged today. By the end of trading, National Oilwell Varco fell $0.93 (-1.3%) to $72.74 on average volume. Throughout the day, 3,153,473 shares of National Oilwell Varco exchanged hands as compared to its average daily volume of 3,655,800 shares. The stock ranged in price between $72.44-$74.02 after having opened the day at $73.59 as compared to the previous trading day's close of $73.67. Other companies within the Energy industry that declined today were: MagneGas Corporation ( MNGA), down 8.5%, Lone Pine Resources ( LPR), down 8.0%, Willbros Group ( WG), down 7.1% and Ivanhoe Energy ( IVAN), down 6.7%.

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 $31.6 billion and is part of the basic materials sector. Shares are up 7.8% year to date as of the close of trading on Monday. Currently there are 15 analysts that rate National Oilwell Varco a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates National Oilwell Varco as a buy. 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, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the positive front, Miller Energy Resources ( MILL), up 8.7%, PostRock Energy ( PSTR), up 7.6%, Parker Drilling Company ( PKD), up 7.3% and Goodrich Petroleum ( GDP), up 5.2% , were all gainers within the energy industry with Marathon Petroleum ( MPC) being today's featured energy industry leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the energy industry could consider Energy Select Sector SPDR ( XLE) while those bearish on the energy industry could consider Proshares Short Oil & Gas ( DDG).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.
null

If you liked this article you might like

National Oilwell Varco in Rare Breakout-Mode Friday: Chart Shows the Trade

Anadarko Petroleum's Relative Strength Is Signaling Black Gold Ahead

Earning the Bulls' Trust: Cramer's 'Mad Money' Recap (Thursday 6/1/17)

Saudi Aramco to Sign 10 Energy Deals During Trump Visit