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NOV: 2023 Off To A Bad Start

Mar. 27, 2023 5:43 PM ETNOV Inc. (NOV)2 Comments
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DT Analysis


  • Despite seeing green shoots for a recovery growing larger and stronger during 2022, sadly the fourth quarter saw weaker financial performance for NOV Inc.
  • Even more worryingly, the United States oil and gas rig count is now dropping.
  • This makes weaker financial performance more likely, especially given the recent banking crisis that could foretell a recession.
  • At least NOV Inc. is well-positioned to outlast another downturn given their low leverage and strong liquidity.
  • Given this mixture, I believe that maintaining my hold rating on NOV Inc. is appropriate.

Year 2023 financial economy crisis

photoman/iStock via Getty Images


Despite NOV Inc. (NYSE:NOV) seeing green shoots for a recovery growing larger and stronger during 2022, back in early 2023 I felt it was time to lock in some profits. Their share price was up

NOV Ratings


NOV Cash Flows


NOV Operating Cash Flow


United States Oil & Gas Rig Count


NOV Capital Structure


NOV Leverage


NOV Debt Serviceability


NOV Liquidity


This article was written by

DT Analysis profile picture
I am no longer active, as I am taking a hiatus from finance to pursue business ventures in other sectors.  I hope that my analysis was helpful to investors across the years, thank you.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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