Aug. 15, 2013, 8:11 AM
- RBC Capital's Kurt Hallead boosts the stock from Neutral to Buy with price target raised to $86 from $78, citing the company's strong backlog, potential increased Rig Tech margins, and PSS improvement thanks to increased U.S. well count and international activity.
- Earlier: Buffett boosts his stake in NOV by 18%.
Aug. 15, 2013, 6:20 AM| 4 Comments
Aug. 8, 2013, 7:45 PM
- Goldman strategist David Kostin has identified what he thinks are the top 40 most undervalued stocks; at the time he issued the note yesterday, each stock had at least 20% upside to his price target.
- The list: MPC, ADSK, VTR, CRM, AMT, SPG, HAL, DVN, EXPE, SWN, R, ESV, BRCM, CAM, NBL, WYNN, WYN, NE, VMC, PSX, NBR, CCI, APC, EL, NFX, FSLR, GM, YHOO, CERN, EOG, CTSH, GT, QCOM, MON, VLO, SLB, PCP, AMAT, BMY, NOV.
Jul. 31, 2013, 4:44 PM
- Last week's blowout on a Hercules natural gas rig off the Louisiana coast could shift regulators' focus to shallow-water drilling and make an overhaul of safety equipment regulations more likely.
- Since the BP disaster, most attention has been on drilling in Gulf water thousands of feet deep, where energy companies are chasing large new fields and the risks seemed greatest.
- Top makers of blowout preventers are National Oilwell Varco (NOV), Cameron (CAM) and GE unit Hydril Pressure Control.
Jul. 30, 2013, 3:59 PM
- National Oilwell Varco (NOV -2.4%) says more demanding delivery schedules for its rig technology are driving up staff and freight costs, eating into margins at its unit which generated more than 50% of Q2 revenues. (Q2 results)
- In the earnings call, COO Clay Williams pointed to shaving 10-12 months off its delivery schedule: "Extraordinary efforts to hit delivery targets are driving higher freight and personnel costs."
- Margins in the rig technology business have dropped six quarters in a row, and fell to 20.7% in Q2 from 23.7% a year ago.
Jul. 30, 2013, 10:18 AM
- National Oilwell Varco (NOV -2.7%) opens lower after posting a 12% Y/Y decline in Q2 earnings on higher costs.
- Rig technology revenue 18% to $2.83B, petroleum service and supplies revenue fell 2% to $1.75Bm distribution and transmission revenue grew 66% to $1.3B on acquisitions made last year.
- Landed $3.15B in rig technology orders during Q2, raising its backlog to a record $13.95B.
Jul. 30, 2013, 7:02 AM| Comment!
Jul. 30, 2013, 12:05 AM
- ACI, ADS, AET, ARQL, AUDC, BLC, BP, BYD, CIE, CMI, COH, CVLT, DB, DDD, DIN, DISCA, DSX, ECL, ESV, ETR, EZPW, FIS, GLW, GNRC, GT, GTI, GTLS, HCP, HEP, HRS, HW, IPGP, JBLU, KLIC, MCGC, MDC, MLM, MRK, MSO, MWV, NEE, NLSN, NOV, NTLS, NYX, ODP, OSK, OXY, PBI, PEG, PES, PFE, ROK, S, SAN, SNH, TRI, TRW, UBS, UDR, VSH, WLK, WM, WU, XYL
Jul. 29, 2013, 5:30 PM
- ACI, ADS, AET, ARQL, AUDC, BLC, BP, BYD, CIE, CMI, COH, CVLT, DB, DDD,DIN, DISCA, DSX, ECL, ESV, ETR, EZPW, FIS, GLW, GNRC, GT, GTI, GTLS, HCP, HEP, HRS, HW, IPGP, JBLU, KLIC, MCGC, MDC, MLM, MRK, MSO, MWV, NEE, NLSN,NOV, NTLS, NYX, ODP, OSK, OXY, PBI, PEG, PES, PFE, ROK, S, SAN,SNH, TRI, TRW, UBS, UDR, VSH, WLK, WM, WU, X, XYL
Jul. 8, 2013, 2:23 PMCNBC's lunchtime panel likes energy services stocks as the smartest play on energy whatever crude oil prices do in the short-term. Pointing to low earnings expectations, Joe Terranova likes Halliburton (HAL), Baker Hughes (BHI) and Basic Energy (BAS). "Even if oil were to go to $80, [energy services] companies still print money," Stephanie Link says, suggesting Occidental (OXY) and National Oilwell Varco (NOV). | 3 Comments
Jun. 7, 2013, 2:53 PM
May. 29, 2013, 12:51 PMRussia’s thirst for modern rigs able to drill in shale oil deposits heralds a $9B bonanza for manufacturers including National Oilwell Varco (NOV), Bloomberg reports. More than half of the country's rigs are more than 20 years old, and many aren’t powerful or advanced enough for producers when they begin exploring Siberia’s shale rock, NOV's head of Russian operations says. | Comment!
May. 24, 2013, 3:13 PMOil stocks are particularly were well-positioned to take advantage of a stronger H2 economy, Edward Jones' Kate Warne tells CNBC, naming National Oilwell Varco (NOV) and Chevron (CVX) as her top energy picks. Natural gas and oil could see continued strong demand throughout 2013 and beyond, and NOV benefits either way, Warne says; she also likes CVX's "stability" in the oil sector. | Comment!
May. 20, 2013, 11:53 AM
May. 7, 2013, 10:54 AMDresser-Rand (DRC +3.8%) is turning into a takeover target for potential buyers such as Siemens (SI), National Oilwell Varco (NOV) and Cameron (CAM), Bloomberg writes. GE’s decision to buy Lufkin this year at the highest multiple to profit on record signaled an appetite for takeovers in the oilfield equipment industry, and DRC could be next on the list as the number of takeout candidates in the space diminishes. | 1 Comment
May. 4, 2013, 3:52 PMBarron's is out with its list of the 500 financially strongest companies as ranked after a rigorous cash and sales analysis. A quick filter on the list shows a good chunk of the names trade with a single-digit price to earnings ratio including Goodyear Tire & Rubber (GT). Despite all the buzz about booming auto sales in the U.S. and China, concerns about growth for Goodyear's products in other regions of the globe have lowered expectations. But with auto sale estimates for full-year being taken higher, Goodyear could see enough consistent revenue growth to justify a higher trading multiple. (Top 25: AAPL, WCC, WDC, DVA, CHRW, QCOM, JOY, V, STX, MRC, MA, CVI, COF, SYMC, MCK, WCG, ETN, BRCM, TMO, CI, CBI, NOV, WNR, HFC, DK) | 39 Comments
NOV vs. ETF Alternatives
National Oilwell Varco Inc is a provider in the design, manufacture and sale of equipment and components used in oil and gas drilling, completion and production operations, and the provision of oilfield services to the upstream oil and gas industry.
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