NOV Stock Summary and Trading Ideas (Nov | NYSE:NOV)

NOV (formerly National Oilwell Varco) is a leading supplier of oil and gas drilling rig equipment and products, such as downhole tools, drill pipe, and well casing. The company operates on a global scale, with international markets contributing more than 60% of its annual revenue.

Nov trades on the NYSE stock market under the symbol NOV.

As of April 15, 2024, NOV stock price declined to $19.17 with 2,069,283 million shares trading.

NOV has a beta of 0.47, meaning it tends to be less sensitive to market movements. NOV has a correlation of 0.02 to the broad based SPY ETF.

NOV has a market cap of $7.55 billion. This is considered a Mid Cap stock.

Last quarter Nov reported $2 billion in Revenue and $1.51 earnings per share. This beat revenue expectation by $83 million and exceeded earnings estimates by $1.10.

In the last 3 years, NOV stock traded as high as $24.83 and as low as $11.46.

The top ETF exchange traded funds that NOV belongs to (by Net Assets): IJH, VTI, VB, OIH, VXF.

NOV has underperformed the market in the last year with a return of +2.9%, while the SPY ETF gained +23.9%. In the last 3 month period, NOV fell short of the market, returning -3.8%, while SPY returned +6.2%. However, in the most recent 2 weeks NOV has outperformed the stock market by returning -2.7%, while SPY returned -3.4%.

NOV support price is $19.29 and resistance is $19.97 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NOV stock will trade within this expected range on the day.