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National Oilwell Varco, Inc. (NOV)

  • Mar. 19, 2013, 3:19 PM
    Despite Schlumberger's near-term concerns, Credit Suisse is convinced the U.S. rig count is going higher and thinks investors should be overweight in U.S.-focused companies leveraged to the rig count or completions. CS likes manufacturers HAL, SPN and FET that supply equipment for drilling and producing the tight reservoirs, plus BHI, WFT, NOV and FTI.
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  • Mar. 1, 2013, 11:49 AM
    National-Oilwell Varco (NOV -2.2%) heads south following a downgrade to Sell from Ameriprise Financial. Shares of the drilling equipment maker have had a rough few months, and currently trade at 11x 2013E EPS.
  • Feb. 21, 2013, 10:22 AM
    National-Oilwell Varco, Inc. (NOV) declares $0.13/share quarterly dividend, in line with previous. Forward yield 0.78%. For shareholders of record Mar. 15. Payable Mar. 29. Ex-div date Mar. 11. (PR)
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  • Feb. 19, 2013, 3:44 PM
    National Oilwell Varco (NOV +0.2%) receives antitrust approval for its acquisition of Robbins & Myers (RBN +0.7%), clearing the way for the $2.5B deal to close on Wednesday. The companies say they also received a letter from the Canadian antitrust officials stating they didn't plan to take any action in the matter.
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  • Feb. 6, 2013, 10:59 AM
    Goldman Sachs' top 10 stocks with the greatest upside potential before they reach the price target assigned by the firm: AAPL, GT, PRU, AMAT, JOY, F, DFS, WMB, SWN, NOV.
  • Feb. 1, 2013, 2:24 PM
    National Oilwell Varco (NOV -4%) slides despite beating Street numbers for Q4 earnings and revenues, as weaker operating margins in the rig technology segment, NOV's largest, eliminated some of the revenue strength. COO Clay Williams says in the conference call that competitive forces have kept prices for new drilling equipment packages "stubbornly" 8%-10% below 2007-08 prices.
  • Feb. 1, 2013, 8:26 AM
    More on National Oilwell Varco's (NOVQ4 results: Year-end backlog for capital equipment orders was a record $11.86B, up 2% Q/Q. New orders during the quarter were $2.42B, reflecting continued demand for oilfield equipment. Largest revenue gain was in the rig technology segment, up 14% Y/Y. Operating margin up 13% Y/Y, up 6% Q/Q. Shares flat premarket.
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  • Feb. 1, 2013, 7:02 AM
    National Oilwell Varco (NOV): Q4 EPS of $1.49 beats by $0.05. Revenue of $5.69B beats by $0.38B. (PR)
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  • Feb. 1, 2013, 12:05 AM
    Notable earnings before Friday’s open: AON, BEAM, BEN, BPO, CVX, HCLP, IR, LM, LYB, MAT, MRK, NOV, NS, NWL, PRGO, TSN, WETF, XOM
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  • Jan. 31, 2013, 5:30 PM
    Notable earnings before Friday’s open: AON, BEAM, BEN, BPO, CVX, HCLP, IR, LM, LYB, MAT, MRK, NOV, NS, NWL, PRGO, TSN, WETF, XOM
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  • Jan. 25, 2013, 12:14 PM
    National Oilwell Varco (NOV +0.6%) is downgraded to Buy from Strong Buy with an $83 price target, down from $105, at ISI Oil Services, which cites the maturing newbuild cycle as being behind a slowing down in NOV's forecast performance. The firm bases its lower price on 11.5x its revised 2014 EPS estimate.
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  • Jan. 8, 2013, 3:56 PM
    National Oilwell Varco (NOV -2.8%) is downgraded to Sector Perform with an $80 price target, lowered from $88, by RBC Capital, which says NOV's share price is heavily tied to rig equipment orders. The firm believes a near-to-intermediate term lull in orders may begin in 2013 as the industry digests the influx of equipment ordered in recent quarters.
  • Jan. 3, 2013, 2:48 PM
    Morningstar recognizes National Oilwell Varco's (NOV) Pete Miller as its 2012 CEO of the Year, praising his "stellar job at capital allocation, identifying major industry trends, investing billions in capital ahead of the shifts, and then executing brilliantly on deals." Miller "pulled off without a hitch" an acquisition-heavy strategy that carries the risk of operational miscues in an industry where reliability is prized.
  • Dec. 24, 2012, 8:18 AM
    Robbins & Myers (RBN) reports FQ1 EPS of $0.76 vs. $0.77 in the same period last year, and $257M in sales, up 9% Y/Y. Also, RBN and National Oilwell Varco (NOV) agree to provide at least 30 days notice to the Justice Department prior to consummating NOV's proposed $60/share takeover.
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  • Dec. 12, 2012, 10:29 AM
    Among energy companies tracked by 24/7, the sharpest increases in short interest came in top pipeline MLPs Kinder Morgan (KMP) and Enterprise (EPD). With the pipeline partnerships’ business model a proven winner, the increase in short interest looks like a bet against the pipeline companies based on debt levels and shrinking cash flows as demand slackens.
  • Dec. 7, 2012, 5:56 PM
    Antitrust reviews by U.S. and Canadian officials on Robbins & Myers' (RBN) planned $2.5B acquisition by National Oilwell Varco (NOV) have been extended, pushing the deal’s proposed closing date into 2013. The moves are not a big surprise; RBN -0.2%, NOV -0.3% AH.
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NOV vs. ETF Alternatives
Company Description
National Oilwell Varco, Inc., is a provider of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry.