National Oilwell Varco Inc
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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.
Halliburton’s Valuation Compared to Its Peers
Halliburton’s forward EV-to-EBITDA multiple compared to its adjusted TTM EV-to-EBITDA is lower than the peer average in our group.
National Oilwell Varco’s Historical Valuation in Context
On March 31, 2017, National Oilwell Varco (NOV) stock was 7.0% higher than on December 30, 2016. In 1Q17, its adjusted earnings were negative.
Did Weatherford Stock Fall in the Week to October 6?
Since the week ending September 29, 2017, Weatherford International stock has fallen 7% until October 6, 2017. OIH has generated -2% returns.
In-Depth: US Crude Oil Rig Count Rose after Ten Weeks
Baker Hughes reported that the weekly US crude oil rig count rose by two rigs—from 572 to 574—in the week ended November 13, the first rise in a while.
Analyzing National Oilwell Varco’s Growth Drivers
Let’s discuss National Oilwell Varco’s growth drivers. The fall of the Wellbore Technology segment’s operating income was restricted by expense reduction.
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 Free Cash Flow in 3Q17
In 3Q17, Schlumberger’s FCF was $1.1 billion. The FCF includes Schlumberger’s expenditure on SPM investments and multiclient seismic data.
Schlumberger’s 7-Day Stock Price Forecast on May 26
Schlumberger stock will likely close between $71.88 and $68.30 in the next seven days. Sclumberger’s stock price was $70.09 on May 26, 2017.
How Analysts View NOV and BHGE in August
Of the 27 analysts surveyed by Reuters covering National Oilwell Varco (NOV), one analyst rates the stock as “strong buy,” three analysts rate it as a “buy,” and 21 analysts rate it as a “hold.”
What’s Ahead for National Oilwell Varco’s Stock Price?
In this series, we’ll analyze National Oilwell Varco’s growth drivers, balance sheet, and dividends.
Halliburton Beats Q3 Estimates but Falls on Lower Q4 Guidance
Halliburton (HAL) reported its third-quarter earnings results on October 22. The company reported EPS of $0.50.
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%.
Schlumberger’s 1-Week Returns on September 22
Schlumberger’s (SLB) one-week returns were 2.0% as of September 22, 2017. Since September 15, the Energy Select Sector SPDR ETF (XLE) has risen 2.0%.
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.”
Can Asset Sales Improve Flotek’s Returns in 2017?
Flotek Industries (FTK) stock has fallen 32% in the past year as of June 30, 2017, compared with the 5% fall we’ve seen in the Energy Select Sector SPDR ETF (XLE).
National Oilwell Varco Is Losing More Revenue than Its Peers
In this article, we’ll discuss how our four oilfield equipment and services (or OFS) companies have fared in terms of revenue growth in 4Q16 compared to 4Q15.
Did National Oilwell Varco’s 1Q17 Earnings Beat Estimates?
National Oilwell Varco (NOV) recorded total revenues of ~$1.7 billion in 1Q17, which was 20.5% lower than the ~$2.2 billion it recorded in 1Q16.
Comparing Net Debt for BHGE and NOV Post-1Q18
In this series, we’ll compare Baker Hughes, a GE company, and National Oilwell Varco, two top oilfield equipment and services companies.
Oilfield Services Gainers: CRR, OII, OIS, FTK, and NOV
In the week starting on March 19, 2018, CARBO Ceramics (CRR) was the top gainer from the oilfield services group.
National Oilwell Varco Had Strong Earnings Growth
Increased global drilling activity and focused cost reduction efforts contributed to National Oilwell Varco’s earnings growth in 2018.
Schlumberger’s Stock Price Forecast for the Next 7 Days
Based on its implied volatility, Schlumberger (SLB) stock could close between $65.44 and $70.46 in the next seven days.
Why Is Schlumberger’s Stock Price Bullish?
In the past year, Schlumberger’s stock price trended up. Its revenues stayed steady in 3Q16 and 2Q16 after falling in the previous three quarters.
Understanding Superior Energy’s Free Cash Flow Estimates
Superior Energy Services’ (SPN) CFO (cash from operating activities) fell 63% in 3Q16 year-over-year. SPN generated $48 million CFO in 3Q16.
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.
Schlumberger: Analysts Cut the Target Price
On January 10, Jefferies cut its target price for Schlumberger from $54 to $47. Morgan Stanley cut its target price for the stock from $50 to $45.
SLB, HAL, BHI, or NOV: Which Has the Highest Implied Volatility?
On May 2, 2017, National Oilwell Varco (NOV) had an implied volatility of 28.3%. After it announced its earnings on April 26, 2017, NOV’s implied volatility fell.
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 National Oilwell Varco’s Correlation with Crude Oil?
The correlation coefficient between National Oilwell Varco’s stock price and crude oil prices from April 7, 2016, to April 7, 2017, is 0.55.
What’s Weatherford’s Valuation Compared to Its Peers’?
WFT makes up 0.33% of the iShares U.S. Energy ETF (IYE). On June 7, IYE had fallen 8% lower compared to its price on March 31.
Chart of the Week: National Oilwell Varco’s Growth Drivers
From 2Q16 to 2Q17, revenue for National Oilwell Varco’s (NOV) Completion & Production Solutions segment rose 21.0%.
What’s NOV’s 7-Day Stock Price Forecast as of April 17?
On April 17, 2017, National Oilwell Varco’s (NOV) implied volatility was ~34%. Since NOV announced its 4Q16 financial results on February 6, 2017, its implied volatility has remained nearly unchanged.
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.
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.
Is Halliburton’s Historical Valuation Justified?
Halliburton’s forward EV-to-EBITDA multiple is lower compared to 1Q17. Analysts expect higher adjusted EBITDA in the next four quarters.
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.”
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).
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.
How Schlumberger Stock Has Performed in the Past Year
Schlumberger’s (SLB) one-year stock price was down 14% as of June 23, 2017.
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.
US Shale Oil Productivity Impacts the US and Global Oil Market
US shale oil production rose between 2007 and April 2015. The record US crude oil production was due to the mammoth surge in shale oil production in 2015.
Reading Baker Hughes’s 1-Year Stock Price on April 7
In the past year, Baker Hughes (BHI) stock rose 48% through April 10, 2017.
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.
What Wall Street Predicts for Basic Energy Services
On August 1, 2017, ~50% of the sell-side analysts tracking Basic Energy Services rated it a “buy” or some equivalent.
Schlumberger Adds Peak Well Systems to Its Portfolio
On January 5, 2017, Schlumberger (SLB) acquired Peak Well Systems. It could extend well life, restore well integrity, and enhance well performance.
Nabors Industries’ 1-Year Returns on September 1
Nabors Industries’ (NBR) one-year stock price fell 35.0% as of September 1, 2017. In the past year, the Energy Select Sector SPDR ETF (XLE) has fallen 8.0%.
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.
SLB, HAL, NOV, and WFT: How Their Stock Prices Stack Up
Schlumberger’s (SLB) stock is down 16% in the past one year as of July 6, 2017.
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.
Top 5 Oilfield Stocks: Expected Earnings per Share Growth
National Oilwell Varco National Oilwell Varco (NOV) could see ~44% EPS growth between 2Q17 and 3Q17. Its Rig Aftermarket segment’s revenue and margin are expected to grow in 3Q17, while its Completion & Production Solutions segment’s onshore margins are expected to contract due to a high percentage of lower-margin products and adverse movements in foreign exchanges. […]
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.
Wall Street’s Forecasts for NOV before Its 1Q17 Earnings
In this article, we’ll take a look at Wall Street analysts’ forecasts for National Oilwell Varco (NOV) leading up to its 1Q17 earnings.
Why Flotek Industries Stock Is Falling
On August 9, 2017, Flotek Industries (FTK) was trading at $6.11, down ~35% since the beginning of 2017.
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.
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.
Why National Oilwell Varco’s operating earnings are important
NOV’s revenues have been growing as the energy sector boomed. The company expanded and diversified its operations globally. However, its cost of revenues increased faster.
Analyzing Schlumberger’s Stock Price on May 12
In the past year, Schlumberger (SLB) stock fell 2% until May 12, 2017. In the past year, Schlumberger has underperformed OIH.
Analyzing the 1-Year Returns of 4 Oilfield Services Giants
In this series, we’ll compare the four most prominent US oilfield equipment and services (or OFS) companies, all of which have market caps of over $5.0 billion.
National Oilwell Varco Stock for 1 Year as of July 7
In the past year, as of July 7, 2017, National Oilwell Varco (NOV) stock has fallen 2.0%. The VanEck Vectors Oil Services ETF (OIH) has underperformed NOV.
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.
How National Oilwell Varco Correlates with Crude Oil
The correlation coefficient between crude oil price and National Oilwell Varco’s (NOV) stock price from July 11, 2016, to July 11, 2017, is 0.61.
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.
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.
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.
Introducing National Oilwell Varco, a “Warren Buffett stock”
This series studies National Oilwell Varco’s financial performance over the last seven years to help you understand why the company has earned the privilege of becoming a Buffett stock.
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%.
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.
What’s NOV’s Correlation with Crude Oil in June 2017?
National Oilwell Varco’s (NOV) correlation with crude oil prices from June 9, 2016, to June 9, 2017, is 0.61.
National Oilwell Varco’s 7-Day Stock Price Forecast
Since its 1Q17 results on April 26, 2017, National Oilwell Varco’s (NOV) implied volatility has increased moderately from 33.0% to 35.0%.
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.
Will High-Pressure Pumping Revenue Help PTEN’s Returns?
In the past year, Patterson-UTI Energy’s stock has risen 6% (as of June 5, 2017), outperforming the VanEck Vectors Oil Services ETF’s (OIH) -13% returns.
Patterson-UTI Energy’s Stock Price Returns after 4Q16
Patterson-UTI Energy released its financial results for 4Q16 on February 9. Its stock price rose ~2% to $27.84 from the closing price on February 8.
Wall Street Targets for the Top Free Cash Generating Oilfield Stocks
In this article, we’ll look at Wall Street analysts’ targets for the oilfield equipment and services (or OFS) stocks that produced the highest free cash flow in 3Q17.
Inside Fairmount Santrol’s Free Cash Flow
In this article, we’ll see how Fairmount Santrol Holdings’ (FMSA) operating cash flow has trended over the past few quarters.
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).
Best Oilfield Services Stocks for 1Q17 by EBITDA Growth
Wall Street analysts expect Fairmount Santrol (FMSA) to see the highest EBITDA growth in 1Q17 compared to 4Q16 in our group of select OFS companies.
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.
