Yahoo Finance Why Nov Inc. (NOV) is a Top Momentum Stock for the Long-Term
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Nov Inc. (NOV)
Incorporated in 1995, Houston, TX based NOV Inc., formerly National Oilwell Varco, is a world leader in the design, manufacture, and sale of comprehensive systems, components, products, and equipment used in oil and gas drilling and production worldwide. The company's extensive portfolio of proprietary technologies is aimed at lowering the industry's marginal cost per barrel.
NOV is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of B. Shares are down 2.9% over the past one week and up 0.3% over the past four weeks. NOV has gained 27% in the last one-year period as well. Looking at trading volume, an average of 2,351,788.50 shares exchanged hands over the last 20 trading days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, four analysts revised their earnings estimate higher in the last 60 days for NOV, while the Zacks Consensus Estimate has increased $0.02 to $1.56 per share. NOV also boasts an average earnings surprise of 13.9%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding NOV to their portfolios.
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NOV Inc. (NOV) : Free Stock Analysis Report
