4 Areas to Watch When National Oilwell Varco, Inc. Reports Second-Quarter Results
The oil industry has been slowly pulling out of its tailspin this year thanks to a more stable oil price environment. Because of those higher prices, oil producers are spending more money on drilling new wells, which is driving demand for more equipment. That trend has had a noticeable impact on National Oilwell Varco's (NYSE: NOV) financial results, which continued their slow grind higher in the first quarter.
CFO Jose Bayardo expected that upward momentum to continue in the second quarter, which was evident from his comments on last quarter's call, where he provided detailed guidance for the company's upcoming report. Here's what he foresaw in each of its four segments this quarter, which investors should keep an eye on when results are reported this Thursday evening.
Image source: Getty Images.
Source: Fool.com
NOV Inc. Stock
With 13 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 24 € there is a positive potential of 36.09% for NOV Inc. compared to the current price of 17.64 €.
