National-Oilwell Varco, Inc. (NYSE:NOV) added 0.52% to $53.76. Bolstered by better margins, the Houston, the company this week reported net income of $404 million or $0.96 per share for the third quarter, up from $385 million or $0.92 per share in the prior-year quarter. On average, 26 analysts polled by Thomson Reuters expected the company to post earnings of $0.90 per share for the third quarter. Analysts’ estimates typically exclude special items. Total revenue for the quarter slipped 2% to $3.01 billion from $3.09 billion in the same quarter last year, but topped nineteen Wall Street analysts’ consensus estimate of $2.97 billion. Nabors Industries Ltd. (NYSE:NBR) surged 2.96% to $20.90. Nabors Industries' net loss from continuing operations for the third quarter was $31.6 million or $0.11 per share, compared to a profit of $53.6 million or $0.18 per share in the same quarter a year ago. On average, 23 analysts polled by Thomson Reuters expected earnings of $0.23 per share. Analysts' estimates typically exclude special items. Over the past 52-week, the stock traded within the range of $15.54-$27.05. The stock went down more than 6% year-to-date. Valero Energy Corporation (NYSE:VLO) lost 1.48% and closed at $17.95. This week, the company said that it earned $292 million, or 51 cents a share, in the quarter, compared with a loss of $629 million, or $1.12 a share, in the year-ago period. Revenue increased to $22.2 billion from $18.6 billion. On average, analysts expected Valero to earn 50 cents a share on revenue of $20.8 billion, according to a survey by FactSet Research. The 52-week range of the stock is $15.49-$21.49.
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Tuesday, November 2, 2010
Oil & Gas Stocks to Watch (NOV, NBR, VLO)
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