National Oilwell Varco’s share price reaction
National Oilwell Varco (NOV) released its financial results for 3Q16 on October 26, 2016. On that day, its stock price had a slightly positive reaction, increasing ~1.1% to $36.56 from the previous day’s close. Since the beginning of this year, its share price is up ~6%.
Schlumberger (SLB), the largest oilfield equipment and services (or OFS) company by market capitalization, was down 1% following the release of its financial information for 3Q16 on October 20. Read Market Realist’s Schlumberger’s 3Q16 Earnings Beat Estimates! to know more about Schlumberger’s 3Q16 earnings. How Did National Oilwell Varco’s Stock React to 3Q16 Earnings?
NOV’s returns compared to the industry
In the past one year, National Oilwell Varco’s stock has generated 4.7% returns net of dividends. In the past one year, NOV has outperformed the VanEck Vectors Oil Services ETF (OIH), which has produced ~2% returns. The Energy Select Sector SPDR ETF (XLE), the broader energy industry ETF, has produced 9% returns. National Oilwell Varco has underperformed the SPDR S&P 500 ETF (SPY), which has produced ~6% returns during the same period. NOV makes up 0.07% of SPY. National Oilwell Varco has, however, hugely outperformed the US rig count, which fell 30% in the past one year.