Oct. 25, 2013, 7:02 AM
Oct. 25, 2013, 12:05 AM
Oct. 24, 2013, 5:30 PM
Sep. 24, 2013, 7:38 AM
- National Oilwell Varco (NOV) +3.2% premarket after announcing plans to spin off its oilfield production equipment distribution business into a new publicly traded company.
- The distribution group would have more than 415 locations and operations in 26 countries, representing ~85% of the revenue of NOVs distribution and transmission segment for the six months ending June 30.
Sep. 10, 2013, 11:59 AM
- National Oilwell Varco (NOV +0.2%) is upgraded to Outperform from Neutral with a $90 price target, up from $82, at Credit Suisse, citing increased confidence in the company's 2013 orders and rig technology margins.
- The firm's raised target price is based on 8x its new 2014 EBITDA estimate of $5.015B, up from $4.9B prior; the firm raises its 2013-14 EPS estimates to $5.54 and $6.50, respectively, from $5.42 and $6.33 (4% above 2014 consensus).
Sep. 4, 2013, 6:57 PM
- There's been no change in the list of top 10 holdings of Morningstar's Ultimate Stock Pickers so far this year, but one wonders about the fate of Microsoft (MSFT) after its much criticized purchase of Nokia's main handset business; it had been the top high-conviction holding in the group.
- The top 10 holdings: MSFT, GOOG, WFC, JNJ, BRK.B, AIG, PG, WMT, PEP, UPS.
- Among purchases during the most recent period, National Oilwell Varco (NOV) topped the top 10 list of high-conviction buys, followed by WFC, GM, SLB, INTC, AAPL, XOM, APA, CHRW, EMC.
Aug. 19, 2013, 12:25 PM
- BofA Merrill Lynch offers its list of top stocks to buy that will benefit from the fracking revolution, led by Chesapeake Energy (CHK); BAML has a $36 price target on CHK, the highest on Wall Street, vs. the consensus target of $24.
- The picks among oil and gas producers: COG, CLR, EOG, PXD, RRC.
- Oil services and equipment: BHI, EMES, FET, NOV.
Aug. 16, 2013, 10:56 AM
- The opportunity from Mexico's energy reforms could rival the Middle East and drive ~$2.5B of incremental annual revenues opportunity and bode well for top oil service stocks (OIH) that can do business in the Mexican market, BAML believes.
- Mexico will be able to add 50 onshore rigs and 20 floaters within two years, the firm says, and the large oil services companies could generate an average ~$40M in revenue per rig in Mexico and other parts of Latin America.
- Time to buy: BHI, CAM, ESV, NOV, NE, SLB, WFT.
Aug. 15, 2013, 9:26 AM
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
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
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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