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INDEPENDENT Financial Advisor / Professional Investor- with over 30 years of navigating the Stock market's "fear and greed" cycles that challenge the average investor. Investment strategies that combine Theory, Practice and Experience to produce Portfolios focused on achieving positive... More
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  • National Oilwell Varco (NOV) - Opportunity Awaits. 0 comments
    Feb 6, 2013 3:51 PM | about stocks: NOV

    National Oilwell Varco Inc., headquartered in Houston, Texas, designs, manufactures, and sells systems, components, and products used in oil and gas drilling and production.

    After their recent earnings report, shares of NOV have dropped approximately 11% from $74.50 to today's quote of $66.50. Although the company beat both earnings and revenue estimates, margins came in at 22.4% and that apparently has sent investors to the exits. I believe the margin issue is explainable and will be resolved in the upcoming quarters. Backlogs are healthy and sits at approx. 11 Billion.

    Opportunity awaits for those who are looking to purchase a quality and now undervalued stock. Shares in the $64 -65 area represent value and as seen in the chart below support exists at these levels back to Dec '11 and the May - June timeframe in 2012.

    I recommend scaling into a position here with a company that is well positioned to outperform as the year unfolds.

    (click to enlarge)

    Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in NOV over the next 72 hours.

    Additional disclosure: Stock For Income means just that @

    Themes: Opportunity, Fear Factor Stocks: NOV
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