National Oilwell Varco Inc
Latest National Oilwell Varco Inc News and Updates
January 2017 EIA Estimates: US Shale Gas Production Could Fall
The EIA expects less natural gas production at four key US shales by January 2017 compared to November 2016. It expects production to rise at three key US shales.
Analyzing National Oilwell Varco’s Free Cash Flow
National Oilwell Varco’s cash from operating activities (or CFO) rose by more than four times in 1Q16 compared to 1Q15.
SLB, HAL, NOV, and BHGE: Comparing the Capex Growth
National Oilwell Varco’s (NOV) capital expenditure or capex fell ~32% in fiscal 2017—compared to its capex spend in fiscal 2016.
Schlumberger’s 1-Year Returns on August 11
Schlumberger’s (SLB) one-year stock price fell 21.0% as of August 11, 2017. In the past year, the Energy Select Sector SPDR ETF (XLE) has fallen 7.0%.
Wall Street Analysts’ Targets for SLB, HAL, NOV, and WFT
Approximately 90% of the analysts tracking Halliburton (HAL) recommended a “buy,” ~8% recommended a “hold,” and the rest recommended a “sell.”
Schlumberger: Do Analysts Expect the Stock to Rise?
For Schlumberger, seven analysts rated it as a “strong buy,” 15 rated it as a “buy,” 13 rated it as a “hold,” and one rated it as a “sell.”
Which Oilfield Service Major Achieved Earnings Progress in 2017?
Halliburton (HAL) recorded a net loss of ~$463 million in 2017—a sharp improvement compared to a net loss of $5.73 billion in 2016.
Weatherford International’s Value Drivers in 1Q17
Weatherford International’s (WFT) Latin American revenue fell the most (21.0%) from 1Q16 to 1Q17.
What’s Weatherford Management Saying after Fiscal 4Q15 Earnings?
Weatherford International’s (WFT) management expects crude oil price to start stabilizing by the second half of 2016. It plans to keep reducing costs to manage the current uncertainty.
Schlumberger: Analyzing Wall Street Forecasts Post–Q3 Earnings
In this series, we’ve seen Schlumberger’s (SLB) stock has held up following its latest quarter earnings release. Now let’s look at what Wall Street forecasts.
Schlumberger’s Q1 Earnings Are Expected to Fall 21%
Schlumberger (SLB) is scheduled to report its first-quarter earnings on April 18. Analysts’ consensus EPS estimate is $0.3 per share.
What Rate Hike Road Is the Fed Really on in 2016? (It Looks Strangely Like 2015)
Policymakers are now hinting toward a rate hike in June. But markets seem to be feeling otherwise.
Analyzing Halliburton’s Q4 Earnings
Halliburton reported its fourth-quarter results on January 22. The company’s EPS fell to $0.41 from $0.53 per share in the fourth quarter of 2017.
Wall Street’s Forecasts for Halliburton before Its 3Q15 Earnings
Wall Street’s forecasts for Halliburton include ~76% of analysts rating the company as a “buy” or some equivalent.
Helmerich & Payne’s Q1 Results and 2019 Outlook
Helmerich & Payne reported its first-quarter results on January 29. The company reported an EPS of $0.17 for the quarter ending December 31.
Analyzing National Oilwell Varco’s Net Debt after 1Q17
National Oilwell Varco’s (NOV) net debt increased 4% in 1Q17 over 1Q16. Its net debt amounted to ~$1.7 billion in 1Q17.
Wall Street Analysts’ Forecasts for Flotek Industries
On May 3, 2017, after Flotek Industries’ 1Q17 earnings were released, all of the sell-side analysts tracking Flotek Industries rated it as a “buy.”
What’s Baker Hughes’s Current Valuation versus Peers?
Baker Hughes, a GE Company (BHGE), is the largest company by market capitalization in our select set of major oilfield services and equipment companies.
Finding Trends in Oilfield Services Companies’ Net Incomes
Many oilfield equipment and services (or OFS) companies witnessed stupendous rises in their net incomes from 2009 to 2014.
Why Greenlight started a new position in Lam Research Corporation
Greenlight disclosed a new position in Lam Research Corporation, which accounts for 1.01% of the fund’s 1Q 2014 portfolio.
How Flotek Could React to Upstream Operators’ Capex and the Rig Count
From 1Q16 to 1Q17, Flotek’s EBITDA margin shrank to 3.3% from 4.1%. FTK’s EBITDA margin has been 1.7%, on average, for the past five quarters.
What Are Large Oilfield Companies’ Correlations with Crude Oil?
The correlation coefficient between Schlumberger’s stock price and crude oil prices from January 11, 2017, to January 11, 2018, was 0.47.
Short Interest in SLB, HAL, WFT, and NOV after 2Q17
The short interest in Schlumberger (SLB), as a percentage of its float, is 1.5% as of August 7, 2017—compared to 1.6% as of June 30, 2017.
How Deeply Leveraged Are Oilfield Services Companies?
From 2009 to 2015, Halliburton’s (HAL) net debt swelled 340%. By September 30, 2016, HAL’s net debt rose 71% compared to December 31, 2015.
What Do Analysts Expect of Halliburton’s 4Q16 Earnings?
Wall Street analysts expect Halliburton’s (HAL) 4Q16 adjusted earnings per share to reach $0.013—a 29% improvement over its 3Q16 adjusted earnings.
Greenlight opens a new position in REIT American Capital Agency
Greenlight disclosed a new position in American Capital Agency Corporation. It accounts for 1.69% of the fund’s 1Q 2014 portfolio.
What’s Nabors Industries’ Short Interest as of June 19?
Short interest in Nabors Industries (NBR) as a percentage of its float was 11.4% as of June 19, 2017, compared to 10.1% as of March 31, 2017.
Analysts’ Forecasts for National Oilwell Varco on April 7
On April 7, ~18% of the analysts tracking National Oilwell Varco rated it a “buy,” ~74% rated it a “hold,” and only 8% of the analysts rated it a “sell.”
How the US Rig Count Affected SLB, HAL, and BHI in 1Q17
In the past year, Schlumberger’s (SLB) North America revenues declined 14%. In 1Q17, SLB’s revenues from North America totaled 28% of its total revenues.
Halliburton Has Underperformed Its Peers in 2018—What’s Ahead?
Halliburton (HAL) stock has fallen ~18% in 2018, underperforming its sector peers. HAL stock fell significantly after its Q2 earnings.
How Upstream Operators’ Capex Could Affect NOV’s Margin in 2017
From 4Q15 to 4Q16, National Oilwell Varco’s (NOV) EBITDA margin crashed, dropping from 6.8% to -45.3% during this period.
Halliburton Recorded Strong Revenue Growth in 2017
Halliburton (HAL) registered the highest revenue growth in our group. Halliburton’s 2017 revenues increased 29.8% to $20.62 billion.
Why Greenlight decided to exit its position in General Motors
Greenlight disposed of its stake in General Motors, which accounted for 9.55% of the fund’s 4Q 2013 portfolio.
What Nabors Industries’ Historical Valuation Suggests
On March 31, 2017, Nabors Industries (NBR) stock was 20.0% lower than it was on December 30, 2016. In 1Q17, NBR’s adjusted earnings were negative.
Will Strategic Alternatives Shape Flotek Industries in 2017?
The Energy Chemistry Technology segment accounted for 76% of Flotek Industries’ revenues in 1Q17. The segment’s revenues rose 36% in 1Q17—compared to 1Q16.
Oil-Weighted Upstream Stocks: Outlier in the Energy Space
On August 24–31, upstream stock California Resources (CRC) saw the highest gain on our list of energy stocks.
Analyzing Weatherford’s Stock in the Past Year
In the past year, Weatherford International stock has fallen 19% as of August 4, 2017. It has underperformed the VanEck Vectors Oil Services ETF (OIH).
Saudi Aramco Deals Could Help Schlumberger Stock
On May 20, 2017, Schlumberger signed a memorandum of understanding with Saudi Arabia’s state-owned oil company Saudi Aramco.
Analyzing National Oilwell Varco’s Debt—A 2% Year-over-Year Fall
National Oilwell Varco’s (NOV) total debt decreased ~18% in 4Q16 over 4Q15. Its cash and marketable securities decreased 31% during the same period.
Will the US Rig Count Affect National Oilwell Varco in 4Q16?
A higher US rig count could increase the 4Q16 revenues and earnings of oilfield equipment and services providers such as National Oilwell Varco and Oil States International.
What’s the Short Interest in Large OFS Companies on July 6?
Short interest in Schlumberger (SLB) as a percentage of its float is 1.2% as of July 6, 2017, compared to 1.2% as of March 31, 2017.
US Crude Oil Rigs Recovered from a Two-Month Low
US crude oil rigs rose by three to 861 on July 20–27. The rigs hit 858 for the week ending July 20—near the lowest level since May 18.
How Do Large OFS Companies’ Valuations Stack Up?
Schlumberger’s enterprise value (or EV) when scaled by trailing-12-month (or TTM) adjusted EBITDA is lower than the peer average in our group here.
National Oilwell Varco’s Forward Valuation Multiple Improved
National Oilwell Varco’s forward PE multiple is positive, which reflects sell-side analysts’ estimates of positive earnings in the next 12 months.
How Weatherford Stock Moved in the Week Ended November 17
Weatherford International (WFT) stock fell 16.0% in the week ended November 17, 2017. The VanEck Vectors Oil Services ETF (OIH) generated a return of -6.0% during this period.
Which Oilfield Services Stocks Are Outperforming the Industry?
Halliburton has outperformed OIH in the past year. Since February 6, 2017, Halliburton stock has decreased ~14%.
Analyzing Net Debt for the 4 Biggest Oilfield Servies Companies
In fiscal 1Q16, Schlumberger’s (SLB) net debt-to-EBITDA ratio was 1.1. SLB’s indebtedness more than doubled from 0.53 a year ago.
How’s Schlumberger Valued Compared to Its Peers?
Schlumberger (SLB) is the largest company by market capitalization among our set of select OFS (oilfield equipment and services) companies.
Did Schlumberger’s 3Q17 Earnings Match the Estimates?
Schlumberger (SLB) released its 3Q17 financial results on October 20, 2017. Its total revenues were ~$7.9 billion, a 12.6% rise from ~$7.1 billion in 3Q16.
Where Does Schlumberger Think Energy Production Is Headed?
On March 24, 2017, Schlumberger and Weatherford International announced that they had inked an agreement to form a joint venture (or JV) called OneStimSM.
Does Halliburton Have a Brighter Outlook for Q2 2018?
From June 8, 2017, to June 7, 2018, Halliburton (HAL) stock has risen 11%. The price of WTI crude oil has risen 45% in the same period.
Why Is Basic Energy Services’ Stock Price Bearish?
On May 8, 2017, Basic Energy Services’ stock price was trading at $27.29, a fall of ~23% since the beginning of 2017. In this series, we’ll analyze why.
Schlumberger’s Next-7-Day Stock Price Forecast
On March 2, 2018, Schlumberger’s (SLB) implied volatility was 27.1%.
How National Oilwell Varco’s Valuation Stacks Up with Peers
National Oilwell Varco’s TTM PE (price-to-earnings) multiple of ~15x is lower than its peer average in the group.
How Does Halliburton’s Valuation Compare to Peers?
Halliburton’s (HAL) EV (approximately the summation of its equity value and net debt) when scaled by trailing-12-month (or TTM) adjusted EBITDA is lower than the peers’ average in the group.
National Oilwell Varco’s Q2 2018 Earnings and the Market
Since April 26 when National Oilwell Varco released its Q1 2018 financial results, NOV stock has risen 10%.
Wall Street Analysts’ Forecasts for National Oilwell Varco
On February 24, ~14% of the analysts tracking National Oilwell Varco rated it as a “buy,” ~74% rated it as a “hold,” and 12% rated it as a “sell.”
Does Wall Street Love the Lowest Cash-Generating Oilfield Stocks?
Approximately 13% of the Wall Street analysts tracking National Oilwell Varco (NOV) have recommended a “buy” or equivalent as of May 18.
National Oilwell Varco’s Correlation with Crude Oil Prices
National Oilwell Varco’s correlation with crude oil prices increased in the trailing year to September 8, 2017—compared to the previous year.
Will US Rig Count Affect Schlumberger in 4Q16?
From September 30, 2016 through December 30, 2016, the US rig count rose 26.0%. A higher US rig count could increase Schlumberger’s (SLB) 4Q16 revenues and earnings.
Will SLB, HAL, BHGE, and FTI Rise 50%?
Baker Hughes (BHGE) and National Oilwell Varco (NOV) have fallen 26% and 11%, respectively, YTD.
What Analysts Expect from Schlumberger’s Q2 2018 Earnings
In the second quarter of 2018, analysts expect Schlumberger (SLB) to report $0.43 adjusted EPS, a 13% sequential increase.
What’s Up with Halliburton’s Net Debt-to-Equity Ratio?
On March 31, 2018, Halliburton’s (HAL) net debt was $8.57 billion, 3% lower than its net debt of $8.88 billion on March 31, 2017.
Schlumberger’s Earnings Made Progress in 9M17
In 9M17, Schlumberger reported a net income of $749 million—a huge improvement compared to 9M16 when it recorded a net loss of nearly $1.48 billion.
Free Cash Flow Trends: Are OFS Companies Burning Cash?
Many oilfield equipment and services (or OFS) companies’ cash flows have taken a beating following the energy price weakness in the past two years.
How Halliburton’s Stock Price Compares
In this series, we’ll analyze Halliburton’s drivers, balance sheet, free cash flow, and dividend yield.
Why Was Tidewater’s Free Cash Flow Negative?
In the first six months of 2017, Tidewater’s free cash flow was -$10 million. Tidewater generated positive free cash flow in fiscal 2016.
National Oilwell Varco’s Opportunities and Concerns
Since September 9, 2016, National Oilwell Varco stock has fallen 4% as of September 8, 2017. During this period, National Oilwell Varco outperformed OIH.
Analyzing the 1-Year Prices for 4 Mega Oilfield Services Companies
In this series, we’ll compare four of the most prominent US oilfield services and equipment companies—Schlumberger (SLB), Halliburton (HAL), Baker Hughes (BHI), and National Oilwell Varco (NOV).
Is Halliburton’s Revenue Rising Faster than Peers’ Revenues?
Halliburton’s (HAL) 2Q17 revenue rose ~29% to $5.0 billion from $3.8 billion a year ago.
Analyzing National Oilwell Varco’s Drivers in Q2 2018
From Q2 2017 to Q2 2018, National Oilwell Varco’s (NOV) Wellbore Technologies segment revenue rose 29.2%.
Understanding Halliburton’s Capital Expenditure Focus
Halliburton (HAL) plans to spend $2.0 billion on capital projects in 2018.
Analyzing Schlumberger’s Stock Price Forecast This Week
From April 20 to June 29, Schlumberger’s implied volatility has remained nearly unchanged at ~24.0%.
Are Institutional Investors Bearish on Schlumberger?
Seven of the top ten investors reduced their positions in Schlumberger in the second quarter, which likely hints at investors’ bearish sentiment.
Can National Oilwell Varco’s Dividend Fall More?
The latest dividend reduction should improve National Oilwell Varco’s future net cash flow. Its free cash flow increased 58% to $493 million in fiscal 4Q15.
A must-know overview of Baker Hughes
Baker Hughes is a leading supplier of oilfield services, products, technology, and systems to the worldwide oil and natural gas industry.
A Snapshot of Schlumberger’s 2Q15 Revenues and Earnings
Schlumberger released its 2Q15 financial results on July 16. The company recorded total revenues of $9.01 billion for 2Q15, down 25.3% from $12.05 billion recorded in 2Q14.
Wall Street Analysts’ Targets for SLB, HAL, NOV, and BHGE
Approximately 73% of the analysts tracking Schlumberger (SLB) have recommended a “buy” or some equivalent as of January 11, 2018.
How does Baker Hughes stack up against its industry peers?
According to Barclays, BHI is “overweight” and it has set a price target of $65 for the company. KeyBanc gave Baker Hughes a “hold” rating.
Short Interest in Halliburton on July 6
Short interest in Halliburton (HAL) as a percentage of its float was 1.47% on July 6, compared to 3.23% on July 6, 2017.
Baker Hughes: A Look Into Its Institutional Holdings
Yesterday, Baker Hughes stock rose by 0.2%, with a year-to-date rise of 3.9%. We’ll focus on the company’s institutional investors in Q3 2019.
Glenview Capital starts new position in Cadence Design Systems
Glenview Capital disclosed a new position in Cadence Design Systems (CDNS) that accounts for 1.21% of the fund’s 2Q14 portfolio. Cadence Design Systems is based in San Jose, California. It develops solutions for its customers to design increasingly small and complex integrated circuits (or ICs) and electronic devices.
SLB or HAL: Which Oilfield Stock Do Analysts Prefer?
Both Schlumberger and Halliburton are underperforming the S&P 500, but Wall Street analysts remain bullish on oilfield stocks.
Assessing Greenlight Capital’s 1st quarter 2014 positions
In this series, we’ll go through some of the main positions that Greenlight Capital, founded by David Einhorn, traded in 1Q 2014.
Must-know: Glenview Capital Management’s 2Q14 positions
Larry Robbins’ Glenview Capital Management delivers attractive absolute returns through fundamental research and individual security selection. The size of Glenview’s portfolio increased from $15.2 billion in 1Q14 to $17.2 billion last quarter.
Schlumberger Stock Rises on Strong Q3 Earnings
Schlumberger (SLB) announced its third-quarter results today. The company’s revenue rose 3% sequentially to $8.5 billion in the quarter.
Schlumberger: Analysts’ Recommendations before Its Earnings
Among the 37 analysts tracking Schlumberger, six recommended a “strong buy,” 16 recommended a “buy,” and 15 recommended a “hold.”
Why Is Halliburton’s Valuation Attractive?
Halliburton (HAL) is trading at a forward EV-to-EBITDA multiple of ~8.1x, which is lower than its five-year average multiple of 10.2x.
SLB, HAL, BHGE, and NOV: Comparing the Leverage
Baker Hughes (BHGE), Schlumberger (SLB), and National Oilwell Varco (NOV) have debt-to-equity ratios of 0.2x, 0.4x, and 0.2x, respectively.
SLB, HAL, BHGE, and NOV: Analyzing the Revenue Trends
Halliburton (HAL) and National Oilwell Varco (NOV) recorded 16% revenue growth in 2018—compared to 2017.
SLB, HAL, BHGE, and NOV: Oilfield Services Stocks Have Risen
After falling significantly in 2018, the top oilfield services stocks have witnessed some gains in 2019.
U.S. Silica Holdings: Recent Institutional Investor Activity
Combined, nine of the top ten investors added 2.4 million U.S. Silica Holdings shares to their positions in the fourth quarter.
Schlumberger: What to Expect from Its Q4 Earnings
Schlumberger (SLB) is scheduled to report its fourth-quarter results on January 18. Analysts expect its EPS to fall ~25% to $0.36.
Institutional Investors Seem Bearish on National Oilwell Varco
The Vanguard Group, Dodge & Cox, and First Eagle Investment Management are the top three institutional investors in National Oilwell Varco.
How Halliburton’s Segments Performed in the Second Quarter
The C&P segment accounted for 68% of HAL’s Q2 revenues.
Short Interest in ION Geophysical
As of January 19, the short interest in ION Geophysical (IO) as a percentage of its float was 8.9%—compared to 6.4% as of January 1.
Schlumberger Reports Q2 2018 Earnings, Beats Estimates
Schlumberger (SLB) released its Q2 2018 results on July 20 with total revenue of $8.3 billion, up 11.3% from $7.46 billion in Q2 2017.
National Oilwell Varco Reacts to Crude Oil’s Change
The correlation between National Oilwell Varco’s (NOV) stock price and crude oil prices on April 16–July 16 was 0.52.
Short Interest in National Oilwell Varco as of July 16
The short interest in National Oilwell Varco (NOV) as a percentage of its float was 5.9% as of July 16.
Halliburton’s Stock Price Forecast ahead of Its Q2 2018 Earnings
From April 23 to July 6, Halliburton’s implied volatility has increased from 25.0% to 28.0%.