National Oilwell Varco Inc
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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.
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.
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.
National Oilwell Varco: Are Institutional Investors Bullish?
The top ten institutional investors in National Oilwell Varco added 5.6 million shares to their positions during the first quarter.
Schlumberger Is Up 31% in 2019: Can It Maintain Momentum?
Schlumberger (SLB) has risen 31% so far in 2019.
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.”
Did the Rig Count Impact Schlumberger’s Q1 Results?
The total US rig count fell from 1,083 in the week ending December 28 to 1,006 in the week ending March 29. The rigs fell by 77 in the first quarter.
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.
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.
Halliburton and Schlumberger: Lower Capital Spending in 2019
Baker Hughes expects to spend up to 5% of its 2019 revenues on capital projects in 2019.
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.
Baker Hughes: Institutional Investors Are Buying the Stock
The top three institutional investors in Baker Hughes (BHGE) are Capital World Investors, Dodge & Cox, and the Vanguard Group.
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 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.
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.
Will SLB, HAL, BHGE, and FTI Rise 50%?
Baker Hughes (BHGE) and National Oilwell Varco (NOV) have fallen 26% and 11%, respectively, YTD.
NOV Missed Q3 EPS Estimates: Stock Fell 5.4% in After-Hours Trade
National Oilwell Varco’s EPS of $0.00 missed analysts’ estimates of $0.12 for the third quarter.
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.
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.
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.
Baker Hughes: Are Institutional Investors Bearish?
Capital World Investors, Dodge & Cox, and the Vanguard Group are the top three institutional investors in Baker Hughes (BHGE).
Moving Averages Suggest WTI Crude Oil Could Trend Higher
WTI and Brent oil prices could average $65.95 per barrel and $71.80 per barrel in 2018, according to the EIA.
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 WFT Stock Reacted to Second-Quarter Earnings
Since April 24, when Weatherford’s Q1 2018 financial results were released, its stock has increased 26%.
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%.
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: Analysts’ Forecasts before Its Earnings
As of July 16, sell-side analysts’ mean target price for National Oilwell Varco was $37.7. Currently, National Oilwell Varco is trading at ~$43.9.
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.
Analyzing Schlumberger’s Stock Price Forecast This Week
Between April 20 and July 13, Schlumberger’s implied volatility fell from ~24% to 23.2%. The company’s stock price fell 1.7% during the same period.
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%.
What’s Nabors Industries’ Stock Price Forecast This Week?
Nabors Industries’ (NBR) implied volatility was 51.3% as of July 6.
What’s Schlumberger’s Stock Forecast ahead of Earnings?
Between April 20 and July 3, Schlumberger’s (SLB) implied volatility increased from 24% to 25%.
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.
Analysts’ Forecast for Superior Energy Services
Approximately 50% of the Wall Street analysts tracking Superior Energy Services rated it as a “buy” or some equivalent as of June 28.
Analyzing the Short Interest: NOV, FTI, OIS, TS, and OII
The short interest in Tenaris S.A. (TS) as a percentage of its float was 0.76% as of June 25—compared to 1.5% as of January 1.
Oceaneering International: 5% of the Analysts Gave a ‘Sell’ Rating
Approximately 5% of the analysts tracking Oceaneering International recommended a “sell” or some equivalent as of June 25.
Why Tenaris Is Seeing More ‘Sell’ Recommendations
On March 25–June 25, the percentage of analysts recommending a “sell” or some equivalent for Tenaris increased from 5% to 6%.
National Oilwell Varco Has the Most ‘Sell’ Ratings
Approximately 10% of the analysts tracking National Oilwell Varco have recommended a “sell” or some equivalent as of June 25.
Five OFS Companies with the Highest ‘Sell’ Recommendations
According to Wall Street analysts’ ratings, National Oilwell Varco (NOV) has the highest “sell” recommendations in the OFS industry.
Schulmberger Is Ranked Fifth for ‘Buy’ Ratings
Approximately 74% of the analysts tracking Schlumberger recommended a “buy” or some equivalent as of June 19.
Schlumberger’s Stock Price Forecast this Week
Schlumberger’s (SLB) first-quarter financial results were released on April 20. Between April 20 and June 15, Schlumberger’s implied volatility fell from 24.1% to 22%.
What’s the Short Interest in CARBO Ceramics?
As of June 13, 2018, short interest in CARBO Ceramics (CRR) as a percentage of its float was 45.8% compared to 41.1% as of June 13, 2017.
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 Halliburton Stock Is Showing Some Strength
On June 5, Haliburton (HAL) was trading at $47.87, which was 4% higher than a year ago. In this series, we’ll see what’s driving it.
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.
Analysts’ Target Price for Schlumberger as of May 25
On May 25, ~75.0% of the Wall Street analysts tracking Schlumberger rated it as a “buy” or some equivalent.
Gauging Short Interest in Keane Group as of May 25
As of May 25, 2018, short interest in Keane Group (FRAC) as a percentage of its float was 13.4%, compared to 32.5% as of May 25, 2017.
How NOW’s Short Interest Compares
On May 23, short interest in NOW (DNOW) as a percentage of its float had risen 145% YoY (year-over-year) to 16.3% from 6.7%.
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.
The Lowest 5 Oilfield Services Companies by Free Cash Flow
In this series, we’ll look at the lowest five free cash flow companies in the first quarter in the oilfield equipment and services industry.
US Crude Oil Rigs Are Steady near March 2015 Highs
Baker Hughes reported that US crude oil rigs were flat at 844 on May 11–18—the highest level since March 13, 2015.
What’s Schlumberger’s Next 7-Day Stock Price Forecast?
On May 18, Schlumberger’s (SLB) implied volatility was 19.9%.
What’s the Short Interest in Helix Energy Solutions on May 10?
Since May 10, 2017, short interest in HLX has gone down 15%.
Comparing the Relative Valuations of BHGE and NOV
In this article, we’ll compare the relative valuation multiples of Baker Hughes (BHGE) and National Oilwell Varco (NOV).
Comparing BHGE’s and NOV’s Dividend Yields
Baker Hughes’s (BHGE) quarterly DPS (dividend per share) remained unchanged from 1Q17 to 1Q18.
BHGE and NOV’s Free Cash Flow in 1Q18
Baker Hughes’s FCF was $177 million in 1Q18. Baker Hughes’s FCF in 1Q18 improved dramatically from -$422 million the previous year.
BHGE and NOV: Mixed Capex Growth in 1Q18
Baker Hughes recorded ~133% capex growth in 1Q18 compared to 1Q17. In 1Q18, Baker Hughes spent ~$177 million on the capex.
How Were BHGE and NOV’s Earnings in 1Q18?
In 1Q18, Baker Hughes’s reported net income was $70 million—126% higher compared to the net income in 4Q17.
Relative Valuation: Comparing Schlumberger and Halliburton
Halliburton’s EV (or enterprise value), when scaled by the TTM (trailing 12-month) adjusted EBITDA, is the lowest in our group.
How National Oilwell Varco’s Short Interest Compares
Short interest in National Oilwell Varco (NOV) as a percentage of its float was 6.1% as of April 16, 2018.
What Analysts Expect for National Oilwell Varco in 1Q18
In 1Q18, Wall Street analysts expect National Oilwell Varco (NOV) to post adjusted EPS (earnings per share) of -$0.01, compared with -$0.04 in 4Q17.
Forecasting Schlumberger’s Stock Price over the Next 7 Days
Since Schlumberger (SLB) released in 4Q17 financial results on January 19, 2018, its implied volatility has risen to 21% to 31.7%.
Short Interest in the Top 5 OFS Companies by Free Cash Flow
Short interest in Schlumberger (SLB) as a percentage of its float was 1.7% on March 20, 2018, compared to 1.2% on March 20, 2017.
What’s Schlumberger’s 7-Day Stock Price Forecast?
On January 19, 2018, Schlumberger’s (SLB) 4Q17 financial results were released.
Wall Street Analysts’ Targets for FMSA, SPN, OIS, and NOV
Only two sell-side analysts track Flotek Industries (FTK), as surveyed by Reuters. Both analysts recommended a “buy” or some equivalent on March 9, 2018.
Analyzing the Short Interest in FTK, OIS, NOV, SPN, and FMSA
The short interest in Flotek Industries (FTK) as a percentage of its float was 18.8% as of March 9, 2018—compared to 26.0% as of March 10, 2017.
Returns from OFS Stocks Trading at a Discount
Flotek Industries underperformed OIH in the past year. Since March 10, 2017, Flotek Industries stock has decreased ~44%.
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.
Ranking OFS Companies by Their Valuation Multiples
Flotek Industries’ (FTK) forward EV-to-EBITDA multiple is at the steepest discount to its current EV-to-EBITDA multiple on March 9, 2018.
Wall Street Analysts’ Targets for SLB, HAL, NOV, and BHGE
Approximately 89% of the Wall Street analysts tracking Halliburton (HAL) recommended a “buy” or some equivalent on March 5, 2018.
SLB, HAL, BHGE, and NOV’s Dividend Yields
Baker Hughes’s quarterly dividend per share stands at $0.18. As of February, Baker Hughes’s stock price decreased 33% compared to the previous year.
US Rig Count Impacted SLB, HAL, and NOV in 2017
Halliburton’s 2017 revenues from North America increased 71% from 2016. Halliburton generated ~56% of its total revenues from North America in 2017.
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.
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%.
Schlumberger’s Next-7-Day Stock Price Forecast
On March 2, 2018, Schlumberger’s (SLB) implied volatility was 27.1%.
What Does Schlumberger’s Historical Valuation Suggest?
On December 29, 2017, Schlumberger’s (SLB) stock price was 20% lower compared to December 30, 2016.
What’s Schlumberger’s Next 7-Day Stock Price Forecast?
On February 23, 2018, Schlumberger’s (SLB) implied volatility was 24.5% compared to 21% on January 19, 2018
Short Interest in Fairmount Santrol Holdings on February 16
As of February 16, 2018, the short interest in Fairmount Santrol Holdings (FMSA) as a percentage of its float was 10.3%.
What’s Schlumberger’s Next 7-Day Stock Price Forecast?
On February 16, 2018, Schlumberger’s (SLB) implied volatility was 25.3%.
BHGE and NOV: A Look at Relative Valuations
In this article, we’ll compare relative valuation multiples for Baker Hughes (BHGE) and National Oilwell Varco (NOV).
How Net Debt for BHGE and NOV Look after 4Q17
Net debt is total debt less cash, cash equivalents, and short-term marketable securities.
What’s Schlumberger’s Next 7-Day Stock Price Forecast?
On February 9, 2018, Schlumberger’s (SLB) implied volatility was 35%.
Wall Street’s Forecasts for NOV after Its 4Q17 Earnings
In this article, we’ll take a look at Wall Street analysts’ forecasts for National Oilwell Varco (NOV) shares following its 4Q17 earnings release.
Analyzing National Oilwell Varco’s Segment Performances in 4Q17
From 4Q16 to 4Q17, National Oilwell Varco’s (NOV) Wellbore Technologies segment’s revenue rose 34.5%, the highest rise among the company’s operating segments.
Why National Oilwell Varco’s 4Q17 Earnings Matched Estimates
National Oilwell Varco released its 4Q17 and 2017 financial results on February 5, 2018. The company recorded total revenue of ~$2.0 billion in 4Q17.
NOV’s Dividends: Key Drivers
National Oilwell Varco (NOV) provides components used in oil and gas drilling and is a global provider of oilfield services. Its revenue fell 51% in 2016 and 4% in 9M17.
What Are Dividend Growers?
In this series, we’ll discuss the top eight oil companies by annual dividend growth in 2017, as the chart below shows.
Schlumberger’s Next 7-Day Stock Price Forecast
On February 2, 2018, Schlumberger’s (SLB) implied volatility was 26.9%, which compares to 21% when it released its 4Q17 financial results on January 19, 2018.
What’s Schlumberger’s Next 7-Day Stock Price Forecast?
Schlumberger stock will likely close between $80.01 and $75.21 in the next seven days—based on its implied volatility.
Wall Street’s Forecasts for NOV ahead of 4Q17 Earnings
Now we’ll look at Wall Street analysts’ forecasts for National Oilwell Varco (NOV) before 4Q17 earnings.
Gauging Short Interest in National Oilwell Varco
Short interest in National Oilwell Varco (NOV) as a percentage of its float was 7.1% as of January 18. Since September 29, 2017, short interest in NOV has decreased 16%. September 29 was the last trading day of NOV’s 3Q17 fiscal quarter.
National Oilwell Varco’s Next-7-day Stock Price Forecast
On January 18, National Oilwell Varco’s (NOV) implied volatility (or IV) was ~30%. Its 3Q17 earnings were announced on October 26. Since then, its implied volatility has remained nearly unchanged at around this level.
How National Oilwell Varco Performed in 3Q17
From 3Q16 to 3Q17, National Oilwell Varco’s (NOV) Wellbore Technologies segment witnessed 32% revenue growth. On the other hand, its Rig Systems segment revenue declined ~30%.
What Wall Street Analysts Expect from NOV’s 4Q17 Earnings
In 4Q17, Wall Street analysts expect a $0.04 adjusted loss per share for National Oilwell Varco (NOV), which indicates that Wall Street analysts expect NOV to cut its adjusted loss from 3Q17 of $0.07 per share.