National Oilwell Varco, Inc (NOV)

[eastunder]

TEXT - S&P rates National Oilwell Varco

Thu Nov 15, 2012 3:06pm EST
http://www.reuters.com/article/2012/11/15/idUSWNA960720121115?type=companyNews&feedType=RSS&feedName=companyNews&rpc=43

Nov 15 - Standard & Poor's Ratings Services today assigned its 'A-' senior
unsecured debt rating to National Oilwell Varco Inc.'s announced $3.0
billion senior unsecured note offering. The offering will comprise three
maturities of five-, 10-, and 30-years; however, the amounts allocated to each
maturity have not been determined at this time. The notes are not guaranteed by
the subsidiaries of National Oilwell Varco and will be structurally subordinated
to all existing and future debts and other liabilities of those subsidiaries. We
expect proceeds to be used to fund the $2.5 billion acquisition of Robbins &
Myers, Inc., as well as for general corporate purposes.

The ratings on Houston-based National Oilwell Varco Inc. (NOV) reflect our
view of the company's "strong" business profile and "modest" financial profile
under our criteria. NOV has a solid business franchise as an equipment
provider to the oil and gas industry and leading market positions in multiple
products and services. Good operating performance, the ability to generate
operating cash flow well in excess of ongoing capital spending requirements,
and a moderate financial policy also support the rating. The company competes
with certain other large, financially strong oilfield service companies that
offer a wide range of products and services. We expect NOV's competitive
position to continue to enable it to successfully compete with these peers.


RELATED RESEARCH AND CRITERIA
-- Corporate Ratings Criteria 2008, published April 15, 2008.
-- Methodology: Business Risk/Financial Risk Matrix Expanded, Sept. 18,
2012
-- Liquidity Descriptors For Global Corporate Issuers, Sept. 28, 2011

Temporary telephone contact numbers: Paul Harvey (914-539-1288); Susan Ding

RATINGS LIST
National Oilwell Varco Inc.
Corporate credit rating A/Stable/--

New Rating
$3 bil. senior unsecured notes
Five-year notes A-
10-year notes A-
30-year notes A-

[eastunder]

Standpoint Research Upgrades National-Oilwell Varco (NOV) to Buy
http://www.streetinsider.com/Upgrades/Standpoint+Research+Upgrades+National-Oilwell+Varco+%28NOV%29+to+Buy/7886678.html

Standpoint Research upgraded National-Oilwell Varco (NYSE: NOV) from Hold to Buy with a price target of $82.00.

[eastunder]

National Oilwell Varco Ups Dividend
By Zacks Equity Research | Zacks – Fri, Nov 16, 2012 2:44 PM

Global large-cap energy equipment maker National Oilwell Varco Inc. (NOV) has increased its quarterly common stock dividend by a penny to 13 cents per share. The new dividend will be paid on December 21, 2012 to shareholders of record as of December 7.

The strength of National Oilwell’s business model reflects the company’s commitment toward returning value to shareholders with its strong cash generation capabilities. Prior to this revision, the company had increased its quarterly dividend by a penny in November 2011.

As on September 30, 2012, the company had $1,702.0 million in cash and a debt of $1,529.0 million. The debt-to-capitalization ratio stood at approximately 7.2%.

Moreover, it has paid common stock dividends amounting to $153.0 million to shareholders up to third quarter of 2012.

We believe that the increase in dividend will boost investor confidence in the stock, thereby driving share value.

Houston, Texas-based National Oilwell Varco, Inc., formerly National Oilwell, is a world leader in the design, manufacture, and sale of comprehensive systems, components, products, and equipment used in oil and gas drilling and production worldwide.

The company is one of the biggest manufacturers of drilling equipment in the world with an impressive business model. The company’s large installed base of rigs worldwide provides for a steady recurring revenue stream through demand for maintenance, parts and other expendable products

However, National Oilwell Varco conducts operations in many countries, with a major portion of its total revenue coming from international markets. As such, the company is exposed to risks associated with doing business abroad. Such risks include embargoes and/or expropriation of assets, exchange rate risks, terrorism and political/civil sentiment, and others.

National Oilwell Varco, which ranks ahead of Cameron International Corp. (CAM) as the biggest U.S. maker of oilfield equipment, is currently a Zacks #3 Rank (Hold) stock, implying that it is expected to perform in line with the broader U.S. equity market over the next one to three months. We are also maintaining our long-term Neutral recommendation on the stock

[eastunder]

National Oilwell Varco Announces Pricing of Senior Notes Offering


Today : Thursday 15 November 2012

National Oilwell Varco, Inc. (NYSE: NOV) (the “Company”) announced today the pricing of a public offering of $3.0 billion of senior notes, consisting of three tranches:
• $500,000,000 aggregate principal amount of its 1.35% senior notes due December 1, 2017;
• $1,400,000,000 aggregate principal amount of its 2.60% senior notes due December 1, 2022; and
• $1,100,000,000 aggregate principal amount of its 3.95% senior notes due December 1, 2042.

The offering is expected to close on November 20, 2012, subject to customary closing conditions.

The Company intends to use approximately $2.5 billion of the net proceeds from the sale of the senior notes to fund a portion of the purchase price for the acquisition of Robbins & Myers, Inc. (the “Robbins & Myers Acquisition”), which it currently expects to close in the fourth quarter of 2012. The remaining net proceeds will be used for other general corporate purposes. If the Company does not consummate the Robbins & Myers Acquisition or the consummation of the Robbins & Myers Acquisition is delayed until the first quarter of 2013, the net proceeds intended to be used to fund such acquisition will be used for other general corporate purposes, including the funding of ongoing operations and other acquisitions by the Company.

Barclays Capital Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. An electronic copy of the prospectus supplement and prospectus is available from the Securities and Exchange Commission's website at www.sec.gov.

The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on November 15, 2012.

[eastunder]

National Oilwell Varco Announces Third Quarter 2012 Results

Thursday , October 25, 2012 07:00ET

HOUSTON--(BUSINESS WIRE)-- National Oilwell Varco, Inc. (NYSE: NOV) today reported that for the third quarter ended September 30, 2012 it earned net income of $612 million, or $1.43 per fully diluted share, compared to second quarter ended June 30, 2012 net income of $605 million, or $1.42 per fully diluted share. Earnings per share increased 14 percent compared to the third quarter 2011 earnings of $1.25 per fully diluted share.

Transaction charges for the third quarter of 2012 were $57 million pre-tax. Net income for the third quarter of 2012 excluding transaction charges was $650 million, or $1.52 per fully diluted share. This compares to second quarter of 2012 net income of $626 million, or $1.46 per fully diluted share, and third quarter 2011 net income of $536 million or $1.26 per fully diluted share, excluding transaction charges from all periods.

The Company's revenues for the third quarter of 2012 were $5.3 billion, an increase of 12 percent from the second quarter of 2012 and an increase of 42 percent from the third quarter of 2011. Operating profit for the third quarter of 2012 was $946 million or 17.8 percent of sales, excluding transaction charges. Sequentially, third quarter operating profit increased four percent, resulting in operating profit flow-through (change in operating profit divided by the change in revenue) of seven percent, excluding transaction charges. Year-over-year third quarter operating profit increased 22 percent, resulting in operating profit flow-through of 11 percent, excluding transaction charges.

During the third quarter of 2012 the Company's Rig Technology segment booked $2.29 billion in new orders. Backlog for capital equipment orders for the Company's Rig Technology segment at September 30, 2012 was $11.66 billion, up three percent from the end of the second quarter of 2012.

Pete Miller, Chairman, President and CEO of National Oilwell Varco, remarked, "Outstanding execution enabled the Company to achieve solid earnings again this quarter. We are pleased by the level of bookings into our capital equipment backlog for the Rig Technology segment during the third quarter. We continue to see steady activity around new orders, and expect high demand for deepwater rigs to drive solid orders again in the fourth quarter. Demand for other NOV products and services continued to grow in international markets, but softening demand in North America partly offset this trend during the third quarter.

Our Company has completed a number of strategic initiatives this year, and I am pleased to report that these are going very well. Our investments will further strengthen National Oilwell Varco's capabilities to service our customers, as well as provide future opportunities for our employees and earnings growth for our shareholders."

Rig Technology

Third quarter revenues for the Rig Technology segment were a record $2.55 billion, an increase of six percent from the second quarter of 2012 and an increase of 29 percent from the third quarter of 2011. Operating profit for this segment was $610 million, or 23.9 percent of sales. Operating profit flow-through was 27 percent sequentially and 14 percent from the third quarter of 2011 to the third quarter of 2012. Revenue out of backlog for the segment increased five percent sequentially and increased 36 percent year-over-year, to $1.91 billion for the third quarter of 2012.

Petroleum Services & Supplies

Revenues for the third quarter of 2012 for the Petroleum Services & Supplies segment were $1.72 billion, down three percent compared to second quarter 2012 results and up 18 percent from the third quarter of 2011. Operating profit was $383 million, or 22.3 percent of revenue, up 28 percent from the third quarter of 2011. Operating profit flow-through was 33 percent from the third quarter of 2011 to the third quarter of 2012.

Distribution & Transmission

The Distribution & Transmission segment generated third quarter revenues of $1.32 billion, which were up 69 percent from the second quarter of 2012 and were up 174 percent from the third quarter of 2011, due mostly to previously disclosed mergers completed during the second quarter and third quarters of 2012. Third quarter operating profit was $78 million or 5.9 percent of sales. Operating profit flow-through was four percent sequentially and five percent from the third quarter of 2011 to the third quarter of 2012.



Continued At http://www.knobias.com/story.htm?eid=3.1.afbe1cf0517b1b8c57b1bf36ceb03d2302752ca30061032c43c2d8dd2ae1c5d9

[eastunder]

NOV: Q3 EPS $1.43 vs $1.25 Misses $1.51 Est

Thursday , October 25, 2012 07:43ET

QUARTER RESULTS
National Oilwell Varco, Incorporated (NOV) reported Q3 results ended September 2012. Q3 Revenues were $5,319.00M; +42.22% vs yr-ago; MISSING revenue consensus by -0.84%. Q3 EPS was $1.43; +14.40% vs yr-ago; MISSING earnings consensus by -5.30%.

Q3 RESULTS      Reported      Year-Ago     Y/Y Chg      Estimate    SURPRISE 
 ----------  ------------  ------------  ----------  ------------  ---------- 
 Revenues:     $5,319.00M    $3,740.00M     +42.22%    $5,364.00M      -0.84% 
 ----------  ------------  ------------  ----------  ------------  ---------- 
 EPS:               $1.43         $1.25     +14.40%         $1.51      -5.30% 
 ----------  ------------  ------------  ----------  ------------  ----------

[Timothy Smith]

In looking at National Oilwell's earnings over the past five years, you can see how the economic crisis affected the earnings in 2009. In 2009 the company's earnings decreased by 24.74% compared to 2008.

Even though the earnings decreased by 24.74% they were still a strong number at $1.469 billion. Since 2008 the company has been showing strong signs of recovery and in 2011 the company reported earnings of $1.994 billion. This amount surpassed the 2008 peak reported earnings of $1.952 billion.

As illustrated above and using a 5-year time frame, the listed profit margins are showing a recovery since 2009. In 2011 the gross profit margin exceeded the 2007 results while the operating and the net profit margins are still just below their 2007 results.

Over the past 5 years the gross, operating and net profit margins or National Oilwell Varco Inc. are showing good results.

The ROA and ROE indicate similar results. Both the ROA and ROE indicate a strengthening in the profitability of the company after the crisis in 2008 / 2009, but are still down from the company's peak ROA and ROE's in 2007.

With free cash flow and the free cash flow margin both displaying positive cash, National Oilwell Varco has enough cash to develop new products, make acquisitions, pay dividends and reduce debt without having to borrow or raise money to maintain operations.

[Timothy Smith]

NOV is trading 13% below its 52-week high and has 23% upside potential based on the analysts' mean target price of $96.59 for the company. NOV was trading Monday for $78.62, up almost 1% for the day.

The company has many fundamental positives. NOV has a PEG Ratio of 1.05 and a forward P/E ratio of 11.38. Quarter over quarter EPS and sales growth rates are 35% and 25% respectively. NOV has a price to book ratio of 1.78.

Technically, NOV was performing well until it broke trend in mid-September. The stock has been in a downtrend since that point and is now trading slightly below the 50-day MA which should offer significant support.

The company has beat earnings estimates three quarters in a row and this one will be no different. NOV has been boosting capital expenditures in the past year and is poised to move much of its North America spending to areas yielding more oil and natural gas liquids rather than natural gas. This shift in production has generated increased demand for NOV's products. The stock is a buy here.

[eastunder]

NOV 3 Q earnings 10-25-12 BMO

National Oilwell Varco Announces Third Quarter 2012 Earnings Conference Call

Monday , August 27, 2012 16:30ET

HOUSTON--(BUSINESS WIRE)-- National Oilwell Varco, Inc. (NYSE: NOV) has scheduled a conference call to discuss the third quarter results of 2012 on Thursday, October 25, 2012 at 8:00 a.m. Central Time. Financial results for the third quarter of 2012 are expected to be released that morning before the market opens.

The call will be broadcast through the Investor Relations link on National Oilwell Varco's web site at www.nov.com, and a replay will be available on the site for thirty days following the conference. Participants may also join the conference call by dialing 1-[phone] within North America or 1-[phone] outside of North America five to ten minutes prior to the scheduled start time, and ask for the "National Oilwell Varco Earnings Conference Call."

National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry.




CONTACT: National Oilwell Varco, Inc.
Clay Williams, [phone]

Source: National Oilwell Varco, Inc.

[eastunder]

National Oilwell Varco Inc. Stock Buy Recommendation Reiterated (NOV)

By TheStreet Wire 09/05/12 - 12:50 PM EDT

http://www.thestreet.com/story/11686228/1/national-oilwell-varco-inc-stock-buy-recommendation-reiterated-nov.html?puc=yahoo&cm_ven=YAHOO


Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK (TheStreet) -- National Oilwell Varco (NYSE:NOV) has been reiterated by TheStreet Ratings as a buy with a ratings score of B . The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in stock price during the past year, impressive record of earnings per share growth, compelling growth in net income and attractive valuation levels. We feel these strengths outweigh the fact that the company shows weak operating cash flow.



Highlights from the ratings report include:

¦ The revenue growth came in higher than the industry average of 13.0%. Since the same quarter one year prior, revenues rose by 34.8%. Growth in the company's revenue appears to have helped boost the earnings per share.

¦ Compared to where it was a year ago today, the stock is now trading at a higher level, reflecting both the market's overall trend during that period and the fact that the company's earnings growth has been robust. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.

¦ NATIONAL OILWELL VARCO INC has improved earnings per share by 25.7% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, NATIONAL OILWELL VARCO INC increased its bottom line by earning $4.69 versus $3.98 in the prior year. This year, the market expects an improvement in earnings ($5.96 versus $4.69).

¦ The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Energy Equipment & Services industry. The net income increased by 25.8% when compared to the same quarter one year prior, rising from $481.00 million to $605.00 million.

National Oilwell Varco, Inc. designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, as well as provides oilfield services and supplies, and supply chain integration services to the upstream oil and gas industry worldwide. The company has a P/E ratio of 14.5, equal to the average energy industry P/E ratio and below the S&P 500 P/E ratio of 17.7. National Oilwell Varco has a market cap of $33.6 billion and is part of the basic materials sector and energy industry. Shares are up 14.8% year to date as of the close of trading on Tuesday.

[Timothy Smith]

National Oilwell Varco (NOV) is one of Warren Buffett's newest additions to his portfolio.

NOV has a growth by acquisition strategy. It acquired about 300 businesses over the past 15 years. It completed nine acquisitions just in the first half of the year.

The company has a staff dedicated to the process of acquiring new companies. NOV has the knowledge and experience to scope out good companies and to effectively integrate them into its business.

Mr. Buffett knows a good value when he sees it. NOV is clearly undervalued with a forward PE ratio of 11.27, a PEG of 0.79, and a price to book ratio of 1.73. It looks like a good time to start a position in the stock (if you haven't already) for the long-term.

[eastunder]

National Oilwell Varco Declares Regular Quarterly Dividend


Today : Thursday 16 August 2012

National Oilwell Varco, Inc. (NYSE: NOV) today announced that its Board of Directors declared the regular quarterly cash dividend of $0.12 per share of common stock, payable on September 28, 2012 to each stockholder of record on September 14, 2012.

National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry.

[Timothy Smith]

The Deal Highlights Of Acquisition

National Oilwell announced that it will acquire Robbins & Myers in an all cash transaction valuing the firm at $60 per share. In a reaction to the offer, shares of Robbins & Myers ended the day 27.4% higher at $59.63. Shares of the supplier of engineered equipment for the global energy market trade just 0.6% below the offer price, at a new all time high.

Robbins & Myers reported annual revenues of $821 million in 2011 with 3,400 employees in 15 countries. The company reported a net income of $134 million that year. In its latest quarterly filing, the company reported a net cash position of $147 million. The deal values Robbins & Myers at roughly 2.8 times annual revenues and 17 times annual earnings, excluding the cash position.

The deal is subject to the normal closing conditions, including the approval of two-third of Robbins & Myers' shareholders. The boards of both companies unanimously approved the deal which is expected to close in the fourth quarter of this year.

CEO and Chairman Pete Miller of National Oilwell Varco commented on the acquisition:

"Robbins & Myers has many complementary products with those National Oilwell Varco currently offers the industry. I am particularly enthusiastic about the prospect of incorporating their downhole tools, pumps and valves into National Oilwell Varco Petroleum Services & Supplies and Distribution & Transmission segments."

Read more: http://seekingalpha.com/article/797381-national-oilwell-varco-s-acquisition-is-a-nice-addition

[eastunder]

National Oilwell to Buy Robbins & Myers for $2.5 Billion

By David Wethe - Aug 9, 2012 8:33 AM MT

http://www.bloomberg.com/news/2012-08-09/national-oilwell-to-buy-robbins-myers-for-2-5-billion-in-cash.html?cmpid=yhoo

National Oilwell Varco Inc. (NOV), the largest U.S. maker of oilfield equipment, agreed to buy Robbins & Myers Inc. (RBN) for $2.54 billion in cash, its biggest acquisition in more than four years.

Holders of Robbins & Myers will get $60 a share under the agreement, Houston-based National Oilwell said in a statement today. That’s a 28 percent premium to Robbins & Myers’s closing price yesterday. The shares rose a record 27 percent to $59.46 at 10:13 a.m. in New York.

The acquisition will consolidate National Oilwell’s position as a supplier of blowout preventers, which can shut off wells in an emergency, said Brian Uhlmer, an analyst at Global Hunter Securities LLC in Houston. Robbins & Myers, based in Dayton, Ohio, is the fourth-largest maker of blowout preventers for drilling rigs on land, he estimated. National Oilwell is the second.

The purchase is a departure for National Oilwell, which “usually likes fixer-uppers,” Uhlmer, who rates both companies a buy and doesn’t own the shares, said in a phone interview today. Robbins & Myers “is pretty well fixed up. Not a lot to improve and squeeze out.”

National Oilwell is also interested in acquiring Robbins & Myers’s line of artificial lift pumps, which boost oil and natural gas to the surface months after a well is drilled, he said.

Grant Purchase

The purchase is the largest by National Oilwell since it agreed to buy Grant Prideco Inc. for about $7.4 billion in 2007. Before today, the company had spent $2.01 billion on nine acquisitions this year, according to an Aug. 6 regulatory report.

“We feel that our combined manufacturing infrastructure and portfolios of technology will further advance our presence in the oil and gas markets we serve,” Pete Miller, chairman and chief executive officer of National Oilwell, said in the statement. National Oilwell rose 42 cents to $76.76.

About 63 percent of Robbins & Myers’s sales in fiscal 2011 were to the oil and gas industry, according to a July 9 investor presentation. Chemical and pharmaceutical equipment sales made up most of the remainder.

National Oilwell said on July 26 it expects to continue to buy companies in what Chief Financial Officer Clay Williams said was a “sweet spot” for mergers and acquisitions.

‘Prosperity and Fear’

“Sellers have the right mix of prosperity and fear, and we have a high level of conviction in our outlook for oilfield markets,” Williams told analysts and investors during the July conference call.

The deal is expected to add 25 to 35 cents a share to National Oilwell’s profit next year, Tom Curran, a New York- based analyst for Wells Fargo & Co., wrote today in a note to investors.

Both boards have approved the transaction, which the companies expect to close in the fourth quarter. Citigroup Inc. provided financial advice to Robbins & Myers, while Thompson Hine LLP acted as legal counsel. National Oilwell’s legal adviser is Fulbright & Jaworski LLP.

To contact the reporter on this story: David Wethe in Houston at [e-mail]

[Timothy Smith]

USO / UNG both doing well last few months. NOV is in great shape going forward, holding steadfast for 2013.

[Penny Roger$]

Finviz is accurate and very well layed out. NOV is in the right sector too.. Yesterday a natural resources ETF tanked hard.

[Timothy Smith]

NOV is rated a "strong buy" on the Street according to data from FINVIZ.com and for good reason. Petrobras recently gave approval to build 6 semis at BrasFELS yard. Around five months ago, the oil & gas firm has approved leases to 26 newbuild floaters and, with greater certainty that 6 of them will be built at BrasFELS yard, NOV will likely receive a nice stream of income that was not originally anticipated. It certainly will not be the only new business that NOV receives: backlog is trending towards an expansion of approximately 50% over the next few years. Construction in Brazilian yards lack visibility since many have not been constructed.

During the second quarter earnings call, management revealed stellar operating results. Diluted EPS came out to $1.46 while revenue rose to a record $4.7B. This confirms not only a strong underlying business story but also that M&A has been accretive after all. For example, the acquisition of Wilson Distribution from Schlumberger has yielded $190M in just a few quarters. Management also announced a quarter-ending backlog of $11.3B--$2.2B of which were in organic new orders.

But, most importantly, NOV is a solid investment for the long-term. It generates consistent cash flow and, while accruing $6.2B worth of goodwill on the balance sheet, M&A has led to double-digit growth. Analysts forecast the firm to grow 13.2% over the next 5 years on an annual basis, but the stock nevertheless trades at just 14.3x and 11.1x forward earnings.

[Timothy Smith]

Excerpt from Fool.com - good points.

Well-positioned energy stocks can help you hedge against the negative effects of increasing fuel costs. That's why we're pumped to recommend oil and gas supplier National Oilwell Varco [NYSE: NOV], a black-gold bet that's among the best in the biz. If a top-notch, bargain-priced company with gallons of advantages over the competition sounds enticing, get your drill bit sharpened and read on.

Rig Business

We love finding the best operators in an industry - financially strong, with leverage over competitors. National Oilwell Varco, a.k.a. NOV, fits that bill.

This $33 billion company supplies oil and gas drillers and production operators with anything they need. Short on rigs? NOV can deliver and set up everything from giant floaters that drill in the deepest waters to small land packages.

If you just need parts to keep the mud flowing down your drill stem (and who doesn't?), NOV is on call.

The fun doesn't stop there. The company also provides a wide range of services and support, whether that means inspecting tubing and sucker rods or training roughnecks to use computer-controlled vertical pipe racking systems.

But wait -- there's more.

NOV is an innovative force in the industry, constantly inventing and manufacturing products that improve the safety and productivity of drilling and well-servicing processes.

Its influence extends so deeply that Morningstar estimates NOV has a 60% share in the rig equipment market and that 90% of all rigs carry at least some NOV equipment.

It's also all over the map, operating 700 locations across six continents.

Drilling for Great Growth

The NOV of today began 150 years ago and is the result of a few key mergers and hundreds of acquisitions; the latest biggies include the 2005 merger of National Oilwell and Varco and the recently completed $7.4 billion buyout of Grant Prideco.

The management team is constantly on the lookout for acquisitions that will expand the company's reach, but the intense growth strategy is well within its comfort zone.

Pete Miller has capably served as president and CEO since 2000 and has nearly 30 years of experience in the oil and gas industry, while other major players have been with the company for a decade or more.

NOV has a few core competitive advantages that keep its margins higher than the competition:

Customers would rather choose a one-stop shop than deal with multiple suppliers. It saves on labor and increases efficiency.
Competition for experienced and talented personnel in the oil and gas industry is high.

Companies that offer NOV's innovative and time-saving products make their rigs safer and more comfortable places to work -- a big plus in recruiting and retaining valuable employees.
NOV offers education and training for its more complex products, increasing switching costs for customers. Once a company has invested time and money training for and implementing a system, it becomes a burden to move to competing products.
The Market's Crude Mood

Revenue and profits are growing at 16% and 24% clip, respectively over the past five years. Since the start of 2005, net margin has increased from 5% to 13.6%. NOV's balance sheet is in good shape, with $3.5 billion in cash and $510 million in long-term debt.

Lofty free cash flow gives management the option to acquire more companies, pay down debt, or repurchase shares.

Although we can't predict short-term fluctuations in energy prices, we firmly believe that, over the long term, the world's increasing thirst for the crude stuff will keep demand high for decades, meaning drillers will continue to explore, build new rigs, and upgrade existing ones.

In short, NOV's market opportunity should stay healthy, and we're more than happy to take advantage.

Oiling Your Portfolio

We like to think about diversity when offering you stock ideas, and this standout, bargain-priced oil supplier certainly has us revved up.

With impressive competitive advantages, strong management, and growth prospects rich as Texas tea -- all while helping you hedge against rising energy costs -- National Oilwell Varco can't be beat.

[eastunder]

National Oilwell Varco profits leap on petroleum supplies sales

Houston Business Journal by Collin Eaton, Reporter
Date: Thursday, July 26, 2012, 6:43am CDT

http://www.bizjournals.com/houston/morning_call/2012/07/national-oilwell-varco-profits-leap-on.html?ana=yfcpc

Collin EatonReporter- Houston Business JournalEmail | Twitter
National Oilwell Varco Inc.’s (NYSE: NOV) net income jumped to $605 million in the second quarter 2012, a 26 percent increase over the same period last year, as its petroleum services and supply sales profits 58 percent.

That’s an earnings of $1.42 per share, up from $1.13 in the same period last year.

The Houston-based drilling equipment company also saw its revenue leap to $4.7 billion, a 35 percent increase over the second quarter 2011, as demand for drilling equipment strengthened in the oil and gas sector.

National Oilwell Varco said its profits were petroleum services and supplies were impacted by both higher sequential sales in the U.S. and seasonal declines in Canada. In international markets, the company said it had “modest growth.”

Revenue for the company’s rig technology climbed 27 percent to $2.41 billion, while the company’s distribution and transmission segment spiked in revenue 84 percent year-over-year to $780 million, thanks in large part to an acquisition.

[eastunder]

National Oilwell profit rises on drilling equipment demand

July 26 | Thu Jul 26, 2012 7:17am EDT

http://www.reuters.com/article/2012/07/26/nationaloilwell-results-idUSL4E8IQ3Z220120726?feedType=RSS&feedName=rbssEnergyNews&rpc=43

July 26 (Reuters) - National Oilwell Varco Inc, the largest U.S. oilfield equipment maker, reported a 26 percent rise in quarterly profit as demand for new drilling equipment stays high.

Net profit rose to $605 million, or $1.42 per share, for the second quarter from $481 million, or $1.13 per share, a year earlier.

Excluding charges, it earned $1.46 per share.

Revenue increased 35 percent to $4.7 billion.

[eastunder]

National Oilwell Varco Announces Second Quarter 2012 Earnings
Press Release: National Oilwell Varco, Inc. –


HOUSTON--(BUSINESS WIRE)--

National Oilwell Varco, Inc. (NOV) today reported that for its second quarter ended June 30, 2012 it earned net income of $605 million, or $1.42 per fully diluted share. Earnings per share increased 26 percent compared to the second quarter of 2011 and were sequentially flat compared to the first quarter of 2012. Excluding transaction charges of $28 million pre-tax, second quarter 2012 net income was $626 million, or $1.46 per fully diluted share.

The Company’s revenues for the second quarter of 2012 were $4.7 billion, which improved 10 percent from the first quarter of 2012 and 35 percent from the second quarter of 2011. Operating profit for the second quarter of 2012 was $907 million or 19.2 percent of sales, excluding transaction charges. Year-over-year second quarter operating profit increased 27 percent and sequentially second quarter operating profit increased three percent.

Backlog for capital equipment orders for the Company’s Rig Technology segment was $11.28 billion at June 30, 2012, up nine percent from the end of the first quarter and up 46 percent from the end of the second quarter of 2011. During the second quarter of 2012 the Company’s Rig Technology segment booked incoming new capital equipment orders of $2.73 billion (through a combination of $2.22 billion in new orders and $0.51 billion in orders through acquisitions completed during the quarter) offset by revenues out of backlog of $1.82 billion.

Pete Miller, Chairman, President and CEO of National Oilwell Varco, remarked, “Our Company achieved strong earnings this quarter, thanks to the hard work of our many dedicated employees. All three segments posted higher sequential and year-over-year revenues and operating profit, and we are pleased at the high level of demand we continue to see for new drilling equipment.

The Company continues to expand organically as well as through acquisitions. We closed six transactions during the quarter for total consideration of $2.0 billion, to strengthen the technology, product and service offerings we provide our oil and gas customers around the globe. Most markets we serve have remained buoyant, despite lower commodity prices, and we therefore expect solid results for the second half of the year.”

Rig Technology

Second quarter revenues for the Rig Technology segment were $2.41 billion, an increase of six percent from the first quarter of 2012 and an increase of 27 percent from the second quarter of 2011. Operating profit for this segment was $571 million, or 23.7 percent of revenue. Operating profit flow-through (change in operating profit divided by the change in revenue) was 14 percent sequentially and 11 percent from the second quarter of 2011 to the second quarter of 2012. Excluding results from two acquisitions closed during the quarter, sales increased two percent at 31 percent flow-through, for 24.5 percent operating margin. Revenue out of backlog for the segment increased six percent sequentially and increased 31 percent year-over-year, to $1.82 billion for the second quarter of 2012.

Petroleum Services & Supplies

Revenues for the second quarter of 2012 for the Petroleum Services & Supplies segment were $1.78 billion, up four percent compared to first quarter 2012 results and up 31 percent from the second quarter of 2011. Operating profit was $393 million, or 22.1 percent of revenue, an increase of one percent from the first quarter of 2012 and an increase of 58 percent from the second quarter of 2011. Operating profit flow-through was 35 percent from the second quarter of 2011 to the second quarter of 2012, and seven percent from the first quarter of 2012 to the second quarter of 2012. Higher sequential sales in the U.S. and modest growth in international markets were partly offset by second quarter seasonal declines in Canada.

Distribution & Transmission

The Distribution & Transmission segment generated second quarter revenues of $780 million, which were up 38 percent from the first quarter of 2012 and up 84 percent from the second quarter of 2011, due mostly to one-month’s contribution of Wilson Supply, acquired during the quarter. Second quarter operating profit was $54 million or 6.9 percent of revenue, up 26 percent from the first quarter of 2012 and up 108 percent from the second quarter of 2011. Sequential flow-through was five percent, and year-over-year flow-through was eight percent. Excluding results from the acquisition, revenues grew five percent at 14 percent flow-through, as strong domestic and international sales fully offset the seasonal break-up declines in Canada.

Balance sheet continued at:

http://finance.yahoo.com/news/national-oilwell-varco-announces-second-110000751.html

[eastunder]

NOV: Q2 EPS $1.42 vs $1.14 Beats $1.4 Est

Thursday , July 26, 2012 08:06ET

QUARTER RESULTS
National Oilwell Varco, Incorporated (NOV) reported Q2 results ended June 2012. Q2 Revenues were $4,734.00M; +34.76% vs yr-ago; BEATING revenue consensus by +7.01%. Q2 EPS was $1.42; +24.56% vs yr-ago; BEATING earnings consensus by +1.43%.

Q2 RESULTS      Reported      Year-Ago     Y/Y Chg      Estimate    SURPRISE 
 ----------  ------------  ------------  ----------  ------------  ---------- 
 Revenues:     $4,734.00M    $3,513.00M     +34.76%    $4,423.95M      +7.01% 
 ----------  ------------  ------------  ----------  ------------  ---------- 
 EPS:               $1.42         $1.14     +24.56%         $1.40      +1.43% 
 ----------  ------------  ------------  ----------  ------------  ----------

[Timothy Smith]

National Oilwell Varco completes acquisition of CE Franklin

Jul 19, 2012 12:40:00 PM
CALGARY, July 19, 2012 /CNW/ - National Oilwell Varco, Inc. (NYSE: NOV) ("NOV") and CE Franklin Ltd. (NASDAQ: CFK; TSX: CFT) ("CE Franklin") announced today that NOV Distribution Services ULC ("NDS"), a wholly-owned subsidiary of NOV, has completed its previously-announced acquisition of CE Franklin pursuant to a plan of arrangement. The arrangement resulted in NDS acquiring all of the issued and outstanding common shares of CE Franklin for cash consideration of CAD$12.75 per share.

The arrangement was approved by the shareholders of CE Franklin and by the Court of Queen's Bench of Alberta on July 16, 2012. Articles of Arrangement have been filed by CE Franklin with the Registrar of Corporations for the Province of Alberta (pursuant to section 193 of the Business Corporations Act (Alberta)) and the arrangement became effective today.

Pursuant to the arrangement, NDS paid an aggregate of approximately CAD$239 million to acquire CE Franklin. CE Franklin is now a wholly owned subsidiary of NDS.

The common shares of CE Franklin are expected to be voluntarily delisted from the TSX and NASDAQ by the end of July 2012.

About CE Franklin

For more than 75 years, CE Franklin has been a leading supplier of products and services to the energy industry. CE Franklin distributes pipe, valves, flanges, fittings, production equipment, tubular products and other general oilfield supplies to oil and gas producers in Canada as well as to the oil sands, refining, heavy oil, petrochemical, forestry and mining industries. These products are distributed through its 39 branches, which are situated in towns and cities serving particular oil and gas fields of the western Canadian sedimentary basin.

About NOV

National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry.

Forward-looking Statements: The information in this news release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934; within the meaning of Canadian securities law and other applicable securities legislation. All statements, other than statements of historical facts, that address activities, events, outcomes and other matters that CE Franklin plans, expects, intends, assumes, believes, budgets, predicts, forecasts, projects, estimates or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. These forward-looking statements are based on management's current belief, based on currently available information, as to the outcome and timing of future events. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements and refer to the Form 20-F or our annual information form for further detail.


----------------------------------------------



Investor Relations
800-345-2858
403-531-5604
[e-mail]

Clay Williams
713-346-7606
[e-mail]

[eastunder]

NOV 2Q earnings 7-26-12 BMO

National Oilwell Varco Announces Second Quarter 2012 Earnings Conference Call

National Oilwell Varco, Inc. (NYSE: NOV) has scheduled a conference call to discuss the second quarter results of 2012 on Thursday, July 26, 2012 at 8:00 a.m. Central Time. Financial results for the second quarter of 2012 are expected to be released that morning before the market opens.

The call will be broadcast through the Investor Relations link on National Oilwell Varco’s web site at www.nov.com, and a replay will be available on the site for thirty days following the conference. Participants may also join the conference call by dialing 1-800-447-0521 within North America or 1-847-413-3238 outside of North America five to ten minutes prior to the scheduled start time, and ask for the “National Oilwell Varco Earnings Conference Call.”

[eastunder]

LT chart: Death cross/ golden cross views

[eastunder]

Oil-Service Stocks Now Look Cheap

http://www.thestreet.com/story/11598893/1/oil-service-stocks-now-look-cheap.html?puc=yahoo&cm_ven=YAHOO

Richard Suttmeier

06/27/12 - 10:06 AM EDT

NEW YORK (TheStreet) -- A weak economy results in reduced demand for energy products, and this is reflected in the 19.7% year-to-date decline of in the price of Nymex crude oil.

Normally at this time of year the price of a barrel of oil would be pressured higher in anticipation of the summer driving season and the possibility that a hurricane could disrupt oil supplies in the Gulf of Mexico.




Because of weak energy prices, the oil-service stocks have followed crude oil prices lower.

Before looking at the oil services industry and specific stocks in the group, I will assess the risk/reward for Nymex crude oil.

The monthly chart for crude oil is negative, with the 120-month simple moving average a major rising support at $67.37.

The weekly chart is negative but oversold, with oil below its 200-week simple moving average at $80.51 and declining each week.

The 200-week moving average has been a magnet for oil since mid-2009. The daily chart (shown below) shows risk to the Oct. 4, 2011 low at $74.95. My downside target since May 25 has been achieved: my semiannual value level at $79.83.


chart courtesy of Thomson/Reuters

The benchmark I use for the oil-service industry is the PHLX Oil Service Sector index (^OSX). The index (recently at 187.29) actually led crude oil lower.

Oil peaked at $110.55 on March 1, while OSX peaked at 262.57 on Feb. 14.

The monthly chart for OSX is negative, and weakness this month has held just above the 120-month simple moving average at 184.26. The 120-month simple moving average also held in June 2010 and October 2011, so a monthly close below this moving average trend would be another technical warning for the energy sector.

The weekly chart for OSX is oversold with the index (like oil) below its 200-week simple moving average at 204.37. Between the two charts the neutral zone for OSX is between 184.25 and 204.37.

The daily chart for OSX shows declining momentum (12x3x3 daily slow stochastic) reading with the index well below its 50-day and 200-day simple moving averages at 211.88 and 225.47, respectively. There is risk to the Oct. 4, 2011 low at 174.66.



chart courtesy of Thomson/Reuters

ValuEngine shows the Oils-Energy sector 19.0% undervalued with a 12-month return down 28.6%, and year to date down 14.3%. The Oil & Gas-Field Services industry is 32.0% undervalued.

If the summer driving season finally begins, or a hurricane threatens the Gulf of Mexico, there should be "buy and trade" opportunities in this industry.

Investors looking for exposure to this industry can choose one of the following five oil services stocks, which are buy-rated, according to ValuEngine.

Baker Hughes(BHI) ($38.26) tested a new year-to-date low at $37.08 on Tuesday. The stock is trading below its 50-day simple moving average at $41.17 and is already below its Oct. 4, 2011 low at $41.91 with the June 2010 low at $35.62.

Diamond Offshore(DO) ($56.61) is not yet at a new year-to-date low with its Oct. 4, 2011 low at $51.16. The stock is trading below its 50-day and 200-day simple moving averages, which have formed a "death cross" at $62.18 and $62.30.

Nabors Industries(NBR) ($12.79) traded to a new year-to-date low at $12.40 on Tuesday. The stock is trading below its 50-day simple moving average at $14.42, with the Oct. 4 low at $11.05.

National Oilwell(NOV) ($60.90) traded to a new year-to-date low at $59.07 on Tuesday. The stock is below its 50-day and 200-day simple moving averages at $69.12 and $71.38, respectively, which is a "death cross" formation.

Schlumberger(SLB) ($59.67) traded to a new year-to-date low at $59.12 on Tuesday. The stock is trading below its 50-day simple moving average at $67.26, with the Oct. 4 low at $54.79.

[eastunder]

NOV

National Varco aka: No Other Vendor. ;)

[eastunder]

Guggenheim Starts National-Oilwell Varco (NOV) at Buy

Guggenheim initiates coverage on National-Oilwell Varco (NYSE: NOV) with a Buy. PT $96.00


http://www.streetinsider.com/New+Coverage/Guggenheim+Starts+National-Oilwell+Varco+%28NOV%29+at+Buy/7461438.html

[eastunder]

Societe Generale Upgrades National-Oilwell Varco (NOV) to Buy

Societe Generale upgraded National-Oilwell Varco (NYSE: NOV) from Hold to Buy with a price target of $85.00.

http://www.streetinsider.com/Upgrades/Societe+Generale+Upgrades+National-Oilwell+Varco+%28NOV%29+to+Buy/7468013.html

[eastunder]

NOV: Q1 EPS $1.42 vs 96c Beats $1.39 Est

Wednesday, April 25, 2012 07:28ET

QUARTER RESULTS
National Oilwell Varco, Incorporated (NOV) reported Q1 results ended March 2012. Q1 Revenues were $4,303.00M; +36.78% vs yr-ago; BEATING revenue consensus by +0.35%. Q1 EPS was $1.42; +47.92% vs yr-ago; BEATING earnings consensus by +2.16%.

Q1 RESULTS      Reported      Year-Ago     Y/Y Chg      Estimate    SURPRISE 
 ----------  ------------  ------------  ----------  ------------  ---------- 
 Revenues:     $4,303.00M    $3,146.00M     +36.78%    $4,288.02M      +0.35% 
 ----------  ------------  ------------  ----------  ------------  ---------- 
 EPS:               $1.42           96c     +47.92%         $1.39      +2.16% 
 ----------  ------------  ------------  ----------  ------------  ----------

[eastunder]

National Oilwell Varco Announces First Quarter 2012 Earnings and Backlog

Press Release: National Oilwell Varco, Inc.

http://finance.yahoo.com/news/national-oilwell-varco-announces-first-110000402.html


HOUSTON--(BUSINESS WIRE)--

National Oilwell Varco, Inc. (NOV - News) today reported that for its first quarter ended March 31, 2012 it earned net income of $606 million, or $1.42 per fully diluted share, compared to fourth quarter ended December 31, 2011 net income of $574 million, or $1.35 per fully diluted share. The first quarter 2012 results included transaction costs totaling $7 million pre-tax, and, excluding these, earnings were $612 million, or $1.44 per fully diluted share. Earnings per share improved 44 percent from the first quarter of 2011 and five percent from the fourth quarter of 2011, excluding transaction and devaluation charges from all periods.

Revenues for the first quarter of 2012 were $4.3 billion, an increase of one percent from the fourth quarter of 2011 and an increase of 37 percent from the first quarter of 2011. Operating profit for the quarter, excluding the transaction and devaluation charges, was $881 million, or 20.5 percent of sales. Sequentially, first quarter operating profit increased two percent, resulting in operating profit flow-through (change in operating profit divided by the change in revenue) of 48 percent, excluding transaction and devaluation charges. Year-over-year first quarter operating profit increased 40 percent, resulting in operating profit flow-through of 22 percent, excluding transaction and devaluation charges.

Capital equipment orders for the Company’s Rig Technology segment increased 15 percent sequentially to $1.91 billion during the first quarter, reflecting higher demand for drilling equipment for new build offshore rigs. At March 31, 2012 the segment’s backlog was $10.36 billion, up two percent from the end of the fourth quarter.

Pete Miller, Chairman, President and CEO of National Oilwell Varco, remarked, “Our Company got off to a good start in the first quarter of 2012, with strong results in all three segments. Our Petroleum Services & Supplies group performed exceptionally well, helped by high levels of oilfield activity which is spurring demand for all our products and services. National Oilwell Varco continues to provide critical, enabling technologies to improve the efficiency and safety of oil and gas operations around the globe.

Our outlook for demand for our capital equipment is very strong and our expectations high for the remainder of the year. Overall, efficient execution of orders in our backlog, innovation in our leading technologies, commitment to great service, and, most importantly, the hard work of the best team in the industry, led to solid earnings again this quarter.”

Rig Technology

First quarter revenues for the Rig Technology segment were $2.26 billion, a decrease of two percent from the fourth quarter of 2011 and an increase of 40 percent from the first quarter of 2011. Operating profit for this segment was $551 million, or 24.4 percent of sales. Operating profit flow-through was 20 percent from the first quarter of 2011 to the first quarter of 2012. Revenue out of backlog for the segment increased 52 percent year-over-year, and was down four percent from the fourth quarter of 2011, to $1.71 billion for the first quarter of 2012.

Petroleum Services & Supplies

Revenues for the first quarter of 2012 for the Petroleum Services & Supplies segment were $1.70 billion, up nine percent compared to fourth quarter 2011 results and up 35 percent from the first quarter of 2011. Operating profit was $388 million, or 22.8 percent of revenue, an increase of 29 percent from the fourth quarter of 2011. Operating profit flow-through was 65 percent sequentially and 32 percent from the first quarter of 2011 to the first quarter of 2012.

Distribution & Transmission

The Distribution & Transmission segment generated first quarter revenues of $564 million, which were essentially flat from the fourth quarter of 2011 and represented a 38 percent increase from the first quarter of 2011. First quarter operating profit was $43 million, or 7.6 percent of sales. Operating profit flow-through was 10 percent from the first quarter of 2011 to the first quarter of 2012.

[Penny Roger$]

<<< $NOV Links! >>> ~ MAC's Quick DD Links without the charts.




PennyStockTweets ~ http://www.pennystocktweets.com/stocks/profile/NOV


OTC Markets Company Info ~ http://www.otcmarkets.com/stock/NOV/company-info
OTC Markets Charts ~ http://www.otcmarkets.com/stock/NOV/chart
OTC Markets Quote ~ http://www.otcmarkets.com/stock/NOV/quote
OTC Markets News ~ http://www.otcmarkets.com/stock/NOV/news
OTC Markets Financials ~ http://www.otcmarkets.com/stock/NOV/financials
OTC Markets Short Sales ~ http://www.otcmarkets.com/stock/NOV/short-sales
OTC Markets Insider Disclosure ~ http://www.otcmarkets.com/stock/NOV/insider-transactions
OTC Markets Research Reports ~ http://www.otcmarkets.com/stock/NOV/research


Google Finance Summary ~ http://www.google.com/finance?q=NOV
Google Finance News ~ http://www.google.com/finance/company_news?q=NOV
Google Finance Option chain ~ http://www.google.com/finance/option_chain?q=NOV
Google Finance Financials ~ http://www.google.com/finance?q=NOV&fstype=ii#
Google Finance Historical prices Daily ~ http://www.google.com/finance/historical?q=NOV
Google Finance Historical prices Weekly ~ http://www.google.com/finance/historical?q=NOV&histperiod=weekly#


Y! < Company >
Y! Profile ~ http://finance.yahoo.com/q/pr?s=NOV+Profile
Y! Key Stat's ~ http://finance.yahoo.com/q/ks?s=NOV+Key+Statistics
Y! Headlines ~ http://finance.yahoo.com/q/h?s=NOV+Headlines
Y! Summary ~ http://finance.yahoo.com/q?s=NOV
Y! Historical Prices ~ http://finance.yahoo.com/q/hp?s=NOV+Historical+Prices
Y! Order Book ~ http://finance.yahoo.com/q/ecn?s=NOV+Order+Book
Y! Message Boards ~ http://messages.finance.yahoo.com/mb/NOV
Y! Market Pulse ~ http://finance.yahoo.com/marketpulse/NOV
Y! Technical Analysis ~ http://finance.yahoo.com/q/ta?s=NOV+Basic+Tech.+Analysis
Y! < Analyst Coverage >
Y! Analyst Opinion ~ http://finance.yahoo.com/q/ao?s=NOV+Analyst+Opinion
Y! Analyst Estimates ~ http://finance.yahoo.com/q/ae?s=NOV+Analyst+Estimates
Y! Research Reports ~ http://finance.yahoo.com/q/rr?s=NOV+Research+Reports
Y! Star Analysts ~ http://finance.yahoo.com/q/sa?s=NOV+Star+Analysts
Y! < Ownership >
Y! Major Holders ~ http://finance.yahoo.com/q/mh?s=NOV+Major+Holders
Y! Insider Transactions ~ http://finance.yahoo.com/q/it?s=NOV+Insider+Transactions
Y! Insider Roster ~ http://finance.yahoo.com/q/ir?s=NOV+Insider+Roster
Y! < Financials >
Y! Income Statement ~ http://finance.yahoo.com/q/is?s=NOV+Income+Statement&annual
Y! Balance Sheet ~ http://finance.yahoo.com/q/bs?s=NOV+Balance+Sheet&annual
Y! Cash Flow ~ http://finance.yahoo.com/q/cf?s=NOV+Cash+Flow&annual


FINVIZ ~ http://finviz.com/quote.ashx?t=NOV&ty=c&ta=0&p=d


Investorshub Trades ~ http://ih.advfn.com/p.php?pid=trades&symbol=NOV
Investorshub Board Search ~ http://investorshub.advfn.com/boards/getboards.aspx?searchstr=NOV
Investorshub PostStream ~ http://investorshub.advfn.com/boards/poststream.aspx?ticker=NOV
Investorshub Messages ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=NOV
Investorshub Videos ~ http://ih.advfn.com/p.php?pid=ihvse&ihvqu=NOV
Investorshub News ~ http://ih.advfn.com/p.php?pid=news&btn=s_ok&ctl00%24sb3%24tbq1=Get+Quote&as_values_IH=&ctl00%24sb3%24stb1=Search+iHub&symbol=NOV&s_ok=OK&from_month=3&from_day=15&from_year=2012&order=desc&selsrc%5B%5D=prnca&selsrc%5B%5D=prnus&selsrc%5B%5D=zacks&selsrc%5B%5D=money2&selsrc%5B%5D=djn&selsrc%5B%5D=bw&selsrc%5B%5D=globe&selsrc%5B%5D=edgar&selsrc%5B%5D=mwus&force=1&last_ts=1331855999&p_n=1&p_count=&p_ts=1331794260


CandlestickChart ~ http://www.candlestickchart.com/cgi/chart.cgi?symbol=NOV&exchange=US


Barchart Quote ~ http://barchart.com/quotes/stocks/NOV?
Barchart Detailed Quote ~ http://barchart.com/detailedquote/stocks/NOV
Barchart Options Quotes ~ http://barchart.com/options/stocks/NOV
Barchart Technical Chart ~ http://barchart.com/charts/stocks/NOV&style=technical
Barchart Interactive Chart ~ http://barchart.com/charts/stocks/NOV&style=interactive
Barchart Technical Analysis ~ http://barchart.com/technicals/stocks/NOV
Barchart Trader's Cheat Sheet ~ http://barchart.com/cheatsheet.php?sym=NOV
Barchart Barchart Opinion ~ http://barchart.com/opinions/stocks/NOV
Barchart Snapshot Opinion ~ http://barchart.com/snapopinion/stocks/NOV
Barchart News Headlines ~ http://barchart.com/news/stocks/NOV
Barchart Profile ~ http://barchart.com/profile//NOV
Barchart Key Statistics ~ http://barchart.com/profile.php?sym=NOV&view=key_statistics


OTC: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=NOV&MarketTicker=OTC&TYP=S
NASDAQ: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=NOV&MarketTicker=NASD&TYP=S
NYSE: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=NOV&MarketTicker=NYSE&Typ=S


Marketwatch Profile ~ http://www.marketwatch.com/investing/stock/NOV/profile
Marketwatch Analyst Estimates ~ http://www.marketwatch.com/investing/stock/NOV/analystestimates
Marketwatch Historical Quotes ~ http://www.marketwatch.com/investing/stock/NOV/historical
Marketwatch Financials ~ http://www.marketwatch.com/investing/stock/NOV/financials
Marketwatch Overview ~ http://www.marketwatch.com/investing/stock/NOV
Marketwatch SEC Filings ~ http://www.marketwatch.com/investing/stock/NOV/secfilings
Marketwatch Picks ~ http://www.marketwatch.com/investing/stock/NOV/picks
Marketwatch Hulbert ~ http://www.marketwatch.com/investing/stock/NOV/hulbert
Marketwatch Insider Actions ~ http://www.marketwatch.com/investing/stock/NOV/insideractions
Marketwatch Options ~ http://www.marketwatch.com/investing/stock/NOV/options
Marketwatch Charts ~ http://www.marketwatch.com/investing/stock/NOV/charts
Marketwatch News ~ http://bigcharts.marketwatch.com/news/symbolsearch/symbolnews.asp?news=markadv&symb=NOV&sid=1795093&framed=False


The Lion ~ http://thelion.com/bin/aio_msg.cgi?cmd=search&msg=&si=1&tw=1&tt=1&rb=1&ih=1&fo=1&iv=1&yf=1&sa=1&fb=1&gg=1&symbol=NOV


Search NYSE ~ http://www.nyse.com/about/listed/lcddata.html?ticker=NOV


StockTA ~ http://www.stockta.com/cgi-bin/analysis.pl?symb=NOV&num1=567&cobrand=&mode=stock


StockHouse ~ http://www.stockhouse.com/financialtools/sn_overview.aspx?qm_symbol=NOV
StockHouse Delayed LII ~ http://www.stockhouse.com/financialtools/sn_level2.aspx?qm_page=46140&qm_symbol=NOV


AlphaTrade ~ http://tools.alphatrade.com/index.php?t1=mc_quote_module&t2=mc_quote_module2&t3=historical&template=historical2html&sym=NOV&client_id=2740&a_width=680&a_height=1000&language=english&showVol=1&chtype=8


Reuters ~ http://www.reuters.com/finance/stocks/companyOfficers?symbol=NOV.PK&WTmodLOC=C4-Officers-5


StockWatch ~ http://www.stockwatch.com/Quote/Detail.aspx?symbol=NOV®ion=U


Search NASDAQ ~ http://www.nasdaq.com/symbol/NOV
NASDAQ Divy History ~ http://www.nasdaq.com/symbol/NOV/dividend-history
NASDAQ Short Interest ~ http://www.nasdaq.com/symbol/NOV/short-interest
NASDAQ Institutional Ownership ~ http://www.nasdaq.com/symbol/NOV/institutional-holdings
NASDAQ FlashQuotes ~ http://www.nasdaq.com/aspx/flashquotes.aspx?symbol=NOV&selected=NOV
NASDAQ InfoQuotes ~ http://www.nasdaq.com/aspx/infoquotes.aspx?symbol=NOV&selected=NOV
NASDAQ After Hours Quote ~ http://www.nasdaq.com/symbol/NOV/after-hours
NASDAQ Pre-Market Quote ~ http://www.nasdaq.com/symbol/NOV/premarket
NASDAQ Historical Quote ~ http://www.nasdaq.com/symbol/NOV/historical
NASDAQ Option Chain ~ http://www.nasdaq.com/symbol/NOV/option-chain
NASDAQ Company Headlines ~ http://www.nasdaq.com/symbol/NOV/news-headlines
NASDAQ Press Releases ~ http://www.nasdaq.com/symbol/NOV/news-headlines
NASDAQ Sentiment ~ http://www.nasdaq.com/symbol/NOV/sentiment
NASDAQ Analyst Summary ~ http://www.nasdaq.com/symbol/NOV/analyst-research
NASDAQ Guru Analysis~ http://www.nasdaq.com/symbol/NOV/guru-analysis
NASDAQ Stock Report ~ http://www.nasdaq.com/symbol/NOV/stock-report
NASDAQ Competitors ~ http://www.nasdaq.com/symbol/NOV/competitors
NASDAQ Stock Consultant ~ http://www.nasdaq.com/symbol/NOV/stock-consultant
NASDAQ Stock Comparison ~ http://www.nasdaq.com/symbol/NOV/stock-comparison
NASDAQ Call Transcripts ~ http://www.nasdaq.com/symbol/NOV/call-transcripts
NASDAQ Annual Reports ~ http://www.nasdaq.com/aspx/annualreport.aspx?symbol=NOV&selected=NOV
NASDAQ Financials ~ http://www.nasdaq.com/symbol/NOV/financials
NASDAQ Revenue & Earnings Per Share (EPS) ~ http://www.nasdaq.com/symbol/NOV/revenue-eps
NASDAQ SEC Filings ~ http://www.nasdaq.com/symbol/NOV/sec-filings
NASDAQ Ownership Summary ~ http://www.nasdaq.com/symbol/NOV/ownership-summary
NASDAQ Institutional Ownership ~ http://www.nasdaq.com/symbol/NOV/institutional-holdings
NASDAQ (SEC Form 4) ~
--------- All Trades ~ http://www.nasdaq.com/symbol/NOV/insider-trades
--------- Buys ~ http://www.nasdaq.com/symbol/NOV/insider-trades/buys
--------- Sells ~ http://www.nasdaq.com/symbol/NOV/insider-trades/sells


The Motley Fool ~ http://caps.fool.com/Ticker/NOV.aspx
The Motley Fool Earnings/Growth ~ http://caps.fool.com/Ticker/NOV/EarningsGrowthRates.aspx?source=itxsittst0000001
The Motley Fool Ratios ~ http://caps.fool.com/Ticker/NOV/Ratios.aspx?source=itxsittst0000001
The Motley Fool Stats ~ http://caps.fool.com/Ticker/NOV/Stats.aspx?source=icasittab0000006
The Motley Fool Historical ~ http://caps.fool.com/Ticker/NOV/Historical.aspx?source=icasittab0000004
The Motley Fool Scorecard ~ http://caps.fool.com/Ticker/NOV/Scorecard.aspx?source=icasittab0000003
The Motley Fool Statements ~ http://caps.fool.com/Ticker/NOV/Statements.aspx?source=icasittab0000009


MSN Money ~ http://investing.money.msn.com/investments/stock-ratings?symbol=NOV


YCharts ~ http://ycharts.com/companies/NOV
YCharts Performance ~ http://ycharts.com/companies/NOV/performance
YCharts Dashboard ~ http://ycharts.com/companies/NOV/dashboard


InsideStocks Opinion ~ http://www.insidestocks.com/texpert.asp?sym=NOV&code=XDAILY
InsideStocks Profile ~ http://www.insidestocks.com/profile.asp?sym=NOV&code=XDAILY
InsideStocks Quote ~ http://www.insidestocks.com/quote.asp?sym=NOV&code=XDAILY
InsideStocks Projection ~ http://charts3.barchart.com/procal.asp?sym=NOV


Zacks Quote ~ http://www.zacks.com/stock/quote/NOV
Zacks Estimates ~ http://www.zacks.com/research/report.php?type=estimates&t=NOV
Zacks Company Reports ~ http://www.zacks.com/research/report.php?type=report&t=NOV


Knobias ~ http://knobias.10kwizard.com/files.php?sym=NOV


StockScores ~ http://www.stockscores.com/quickreport.asp?ticker=NOV


Trade-Ideas ~ http://www.trade-ideas.com/StockInfo/NOV/HOT_TOPIC.html


Morningstar ~ http://performance.morningstar.com/stock/performance-return.action?region=USA&t=NOV&culture=en-US
Morningstar Shareholders ~ http://investors.morningstar.com/ownership/shareholders-overview.html?t=NOV®ion=USA&culture=en-us
Morningstar Transcripts~ http://www.morningstar.com/earnings/NoTranscript.aspx?t=NOV®ion=USA
Morningstar Key Ratios ~ http://financials.morningstar.com/ratios/r.html?t=NOV®ion=USA&culture=en-US
Morningstar Executive Compensation ~ http://insiders.morningstar.com/trading/executive-compensation.action?t=NOV®ion=USA&culture=en-us
Morningstar Valuation ~ http://financials.morningstar.com/valuation/price-ratio.html?t=NOV®ion=USA&culture=en-us


CCBN (Thompson Reuters) ~ http://ccbn.aol.com/company.asp?client=aol&ticker=NOV


TradingMarkets ~ http://pr.tradingmarkets.com/?lid=leftPRbox&sym=NOV


OTCBB ~ http://www.otcbb.com/asp/SiteSearch.asp?Criteria=NOV&searcharea=e&image1.x=0&image1.y=0


Insidercow ~ http://www.insidercow.com/history/company.jsp?company=NOV&B1=Search%21


Forbes News ~ http://search.forbes.com/search/find?tab=searchtabgeneraldark&MT=NOV
Forbes Press Releases ~ http://search.forbes.com/search/find?&start=1&tab=searchtabgeneraldark&MT=NOV&pub=businesswire,prnewswire&searchResults=pressRelease&tag=pr&premium=on
Forbes Web ~ http://search.forbes.com/search/web?MT=UNGS&start=1&max=10&searchResults=web&tag=web&sort=null


YouTube Symbol Search ~ http://www.youtube.com/results?search_query=NOV


Buy-Ins ~ http://www.buyins.net/tools/symbol_stats.php?sym=NOV


Quotemedia ~ http://www.quotemedia.com/results.php?qm_page=47556&qm_symbol=NOV


Earnings Whispers ~ http://www.earningswhispers.com/stocks.asp?symbol=NOV

Bloomberg Snapshot ~ http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=NOV
Bloomberg People ~ http://investing.businessweek.com/research/stocks/people/people.asp?ticker=NOV

Financial Times ~ http://markets.ft.com/Research/Markets/Tearsheets/Summary?s=NOV

Investorpoint ~ http://www.investorpoint.com/ enter "NOV" and click search.

Hotstocked ~ http://www.hotstocked.com/ enter "NOV" and click search.

Raging Bull ~ http://ragingbull.quote.com/mboard/boards.cgi?board=NOV

Hoovers ~ http://www.hoovers.com/search/company-search-results/100003765-1.html?type=company&term=NOV

DD Machine ~ http://www.ddmachine.com/default.asp?m=stocktool_frame.asp?symbol=NOV

SEC Form 4 ~ http://www.secform4.com/insider/showhistory.php?cik=NOV

OTCBB Pulse ~ http://www.otcbbpulse.com/cgi-bin/pulsequote.cgi?symbol=NOV

Failures To Deliver ~ http://failurestodeliver.com/default2.aspx enter "NOV" and click search.

http://www.coordinatedlegal.com/SecretaryOfState.html

http://regsho.finra.org/regsho-Index.html

http://www.shortsqueeze.com/?symbol=NOV&submit=Short+Quote%99



DTCC (PENSON/TDA) Check - (otc and pinks) - Note ~ I did not check for this chart blast. However, I try and help you to do so with the following links.
IHUB DTCC BOARD SEARCH #1 http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18682&srchyr=2011&SearchStr=NOV
IHUB DTCC BOARD SEARCH #2: http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=14482&srchyr=2011&SearchStr=NOV
Check those searches for recent NOV mentions. If NOV is showing up on older posts and not on new posts found in link below, The DTCC issues may have been addressed and fixed. Always call the broker if your security turns up on any DTCC/PENSON list.
http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18682&srchyr=2011&SearchStr=Complete+list
For a complete list see the pinned threads at the top here ---> http://tinyurl.com/TWO-OLD-FARTS



MACDlinks

[Penny Roger$]

~ Wednesday! $NOV ~ Q1 Earnings posted, pending or coming soon! In Charts and Links Below!

~ $NOV ~ Earnings expected on Wednesday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=NOV&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=NOV&p=W&b=3&g=0&id=p54550695994



~ Google Finance: http://www.google.com/finance?q=NOV
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=NOV#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=NOV+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=NOV
Finviz: http://finviz.com/quote.ashx?t=NOV
~ BusyStock: http://busystock.com/i.php?s=NOV&v=2


<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=NOV >>>>>>



http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

[eastunder]

National Oilwell Varco Completes Flexible Pipe Acquisition

HOUSTON--(BUSINESS WIRE)--

http://finance.yahoo.com/news/national-oilwell-varco-completes-flexible-123000734.html

National Oilwell Varco, Inc. (NYSE:NOV - News) announced the closing of its previously announced acquisition of NKT Flexibles I/S (“NKT”), a Denmark based designer and manufacturer of flexible pipe products and systems for the offshore oil and gas industry.

Pete Miller, Chairman, President and CEO of National Oilwell Varco, stated “The integration of NKT’s highly technical design capabilities and NOV’s Rig Technology will be a compelling combination in the offshore production market. NKT will notably escalate our position in Floating Production, Storage and Offloading vessel market. We are excited and welcome all of NKT’s employees to the NOV family.”

[eastunder]

NOV 1Q earnings 4-25-12 BMO

National Oilwell Varco Announces First Quarter 2012 Earnings Conference Call

Tuesday , March 20, 2012 09:38ET

HOUSTON--(BUSINESS WIRE)-- National Oilwell Varco, Inc. (NYSE: NOV) has scheduled a conference call to discuss the first quarter results of 2012 on Wednesday, April 25, 2012 at 8:00 a.m. Central Time. Financial results for the first quarter of 2012 are expected to be released that morning before the market opens.

The call will be broadcast through the Investor Relations link on National Oilwell Varco's web site at www.nov.com, and a replay will be available on the site for thirty days following the conference. Participants may also join the conference call by dialing [1-800-447-0521] within North America or [1-847-413-3238] outside of North America five to ten minutes prior to the scheduled start time, and ask for the "National Oilwell Varco Earnings Conference Call."

National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry.

[eastunder]

Seems someone on CNBC said NOV to them stood for "No Other Vendor". ;)

It's a well liked company.

[WildCatStocks]

Looks like NOV is one of Cramer's growth picks.

National Oilwell Varco, Inc. (NOV) designs, manufactures, and sells equipment and components used in the drilling and production of oil and natural gas. This company is benefiting from the worldwide boom in drilling and the increased activity in the Gulf of Mexico, which had been hampered for months after the oil spill. This company reported fourth quarter earnings of $574 million, or $1.35 per fully diluted share.

[eastunder]

NOV LT chart : Since IPO

[eastunder]

NOV Gap (2-3-12) @ 77.62



Open Gaps
Direction Date range

 up Feb-03-2012 77.62 to 78.72  
 up Jan-17-2012 73.35 to 73.51 (73.42 low on 2/2/12)

[eastunder]

National Oilwell Varco Declares Regular Quarterly Dividend


HOUSTON--(BUSINESS WIRE)--

National Oilwell Varco, Inc. (NYSE: NOV - News) today announced that its Board of Directors declared the regular quarterly cash dividend of $0.12 per share of common stock, payable on March 30, 2012 to each stockholder of record on March 16, 2012.

National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry.

[eastunder]

Interesting position to be in:

[eastunder]

NOV:

[eastunder]

National Oilwell Varco's CEO Discusses Q4 2011 Results - Earnings Call Transcript

http://seekingalpha.com/article/336341-national-oilwell-varco-s-ceo-discusses-q4-2011-results-earnings-call-transcript?source=yahoo

[eastunder]

UPDATE 2-National Oilwell profit tops Wall St, shares rise

10:58 am ET 02/02/2012 - Reuters


* Q4 EPS $1.37 vs $1.30 expected by Wall St

* Backlog flat vs Q3, more orders expected in 2012

* Shares rise nearly 3 pct (Adds estimates, comments from conference call, analyst comments, stock price)

By Braden Reddall

Feb 2 (Reuters) - National Oilwell Varco Inc, the largest U.S. oilfield equipment maker, reported a higher-than-expected 30 percent rise in quarterly profit and forecast solid demand for oilfield equipment, sending its shares up nearly 3 percent.

NOV's backlog of mostly offshore rig equipment did not grow in the fourth quarter as orders fell short of analysts' estimates, but the company anticipates a good year ahead as rig contractors seek to replace older models.

"The thing about deepwater drilling is that it begets more deepwater drilling," Chief Financial Officer Clay Williams said. "That's why paradoxically the deepwater market is tightening and day rates are moving up in spite of the slew of new (rig) deliveries over the past several years."

Fourth-quarter net profit rose to $574 million, or $1.35 per share, from $440 million, or $1.05 per share, a year ago. Excluding items, the profit was $1.37 per share, compared with an average analyst estimate of $1.30, according to Thomson Reuters I/B/E/S.

Revenue grew 34 percent to $4.26 billion, in what Simmons & Co called "another solid and seamless" quarter.

The backlog for capital equipment orders at NOV's rig technology business was $10.16 billion, down slightly from the previous quarter but twice the level of a year ago.

That segment's operating margin was 26 percent, as they glide down from the boom-era levels in the backlog to a more "normalized" range around 25 percent, before gradual rising in the second half of this year, Williams said.

Pritchard Capital analyst Bill Conroy said margins ended up stronger than he had expected. "This indicates more margin strength in the company's current backlog as well as better execution internally," he said in a note to investors.

Shares of NOV were up 2.6 percent at $76.61 on Thursday morning on the New York Stock Exchange. (Reporting by Braden Reddall in San Francisco and Swetha Gopinath in Bangalore, editing by Matthew Lewis)

[eastunder]

National Oilwell Varco Announces Fourth Quarter and Full Year 2011 Earnings

7:00 am ET 02/02/2012 - Business Wire


HOUSTON--(BUSINESS WIRE)--Feb. 2, 2012-- National Oilwell Varco, Inc. (NYSE: NOV) today reported that for the fourth quarter ended December 31, 2011 it earned net income of $574 million, or $1.35 per fully diluted share. Earnings improved eight percent compared to third quarter of 2011, and improved 30 percent compared to the fourth quarter of 2010. Excluding $12 million in pre-tax transaction charges in the fourth quarter of 2011, net income was $583 million, or $1.37 per fully diluted share, up nine percent from the third quarter of 2011, and up 30 percent from the fourth quarter of 2010, excluding transaction charges from all periods.

Revenues reported for the full year 2011 were $14.66 billion, and net income was $1.99 billion, or $4.70 per fully diluted share. Operating profit for the full year 2011 was $2.94 billion. Excluding $41 million in pre-tax transaction charges in 2011, net income was $2.02 billion, or $4.77 per fully diluted share, and operating profit was $2.98 billion or 20.3 percent of sales, for the full year 2011.

Revenues for the fourth quarter increased 14 percent sequentially to $4.26 billion. Operating profit for the fourth quarter, excluding transaction charges, was $860 million or 20.2 percent of sales, up 11 percent from the third quarter of 2011. Operating profit flow-through, or the change in operating profit divided by the change in revenue, was 16 percent from the third quarter of 2011 to the fourth quarter of 2011, and was 22 percent from the fourth quarter of 2010 to the fourth quarter of 2011, excluding transaction charges from all periods. The Company's acquisition of Ameron was completed on October 5, 2011 and contributed to its sequential growth in revenues.

Backlog for capital equipment orders for the Company's Rig Technology segment at December 31, 2011 was $10.16 billion, down one percent from the third quarter of 2011, but double year-earlier levels. New orders during the quarter were $1.67 billion, reflecting continued good demand for oilfield equipment.

Pete Miller, Chairman, President and CEO of National Oilwell Varco, remarked, “We achieved solid results in 2011. The Company posted record revenues, net income, and orders for capital equipment, which at $10.8 billion for the year handily beat our previous high of $7.3 billion. We used the year to focus on efficiency and technology, while continuing to invest for future growth, to position National Oilwell Varco to capitalize on extraordinary opportunities emerging in the oil and gas industry.

We enter 2012 with strong financial resources, $3.5 billion in cash, a solid backlog, and an experienced team capable of delivering great service and products to our customers. We believe that the oil and gas industry will continue to need to upgrade the world's rig fleet, and we look forward to continuing to help our customers retool their rigs to improve safety, reduce environmental impact, and drive higher efficiency. I thank all of our dedicated employees for their hard work and outstanding execution this year.”

Rig Technology

Fourth quarter revenues for the Rig Technology segment were $2.32 billion, an increase of 18 percent from the third quarter of 2011 and an increase of 32 percent from the fourth quarter of 2010. Operating profit for this segment was $603 million, or 26.0 percent of sales, an increase of 14 percent from the third quarter of 2011 and an increase of 20 percent from the fourth quarter of 2010. Sequential operating profit flow-through was 22 percent. Year-over-year operating profit flow-through was 18 percent. Revenue out of backlog for the segment increased 26 percent sequentially and increased 40 percent year-over-year, to $1.78 billion for the fourth quarter of 2011.

Petroleum Services & Supplies

Revenues for the fourth quarter of 2011 for the Petroleum Services & Supplies segment were $1.57 billion, up eight percent compared to third quarter 2011 results and up 38 percent compared to fourth quarter 2010 results. Operating profit was $301 million, or 19.2 percent of sales, essentially flat from the third quarter of 2011 and an increase of 77 percent from the fourth quarter of 2010. Operating profit flow-through was two percent from the prior quarter, and 30 percent from the fourth quarter of 2010 to the fourth quarter of 2011. Reported fourth quarter results for Petroleum Services & Supplies include the Fiberglass Composite Pipe segment of Ameron from the acquisition date, which contributed $71 million in revenue to the segment in the quarter.

Distribution & Transmission

Fourth quarter revenues for the Distribution & Transmission segment were $560 million, up 17 percent from the third quarter of 2011 and up 32 percent from the fourth quarter of 2010. Fourth quarter operating profit was $45 million or 8.0 percent of sales. Operating profit flow-through was 10 percent sequentially, and 11 percent from the fourth quarter of 2010 to the fourth quarter of 2011. Reported fourth quarter results for Distribution & Transmission include the Water Transmission and Infrastructure Products segments of Ameron from the acquisition date, which contributed $70 million in revenue in the quarter.

[eastunder]

NOV 3 year

[eastunder]

National Oilwell Varco Could Break $100, Baker Hughes Gains

http://seekingalpha.com/article/317754-national-oilwell-varco-could-break-100-baker-hughes-gains?source=yahoo

For investors betting on a quicker than expected recovery, Baker Hughes (BHI) and National Oilwell Varco (NOV) are particularly attractive value plays. Having a beta of 1.7, both are highly correlated with the macro-economy due to the direct industrial application. I find that both companies have significant upside and little downside given the earnings potential and the likelihood of multiples expansion.

From a multiples perspective, Baker Hughes is the cheaper of the two. It trades at a respective 12.8x and 9.3x past and forward earnings while NOV trades at a respective 16.2x and 12.1x past and forward earnings. On the other hand, the latter has a significantly cleaner balance sheet, which more than makes up for its lower dividend yield. NOV has a net cash position of $3.4B, which represents 11.2% of market value. Baker Hughes has net debt of $3.1B, which represents 14.8% of market value. Due to the onshore expansion for NOV, analysts rate the company higher at a "strong buy."

On the third quarter earnings call, NOV's Chairman and CEO Merrill Miller noted impressive performance:


"Earlier today, we announced the earnings of $532 million or $1.25 per fully diluted share on revenues of $3.74 billion. This compares to earnings of $481 million or $1.13 per fully diluted share in the second quarter of 2011, and third quarter 2010 earnings of $406 million or $0.97 per fully diluted share. We are very pleased with these results, and they reflect the confidence our customers have in our products and services.

Additionally, we also announced today new capital equipment orders in the quarter of $3.94 billion, a new record for the company. These new orders increased the total capital equipment backlog to $10.27 billion, a 33% increase from the second quarter of 2011."


At the same time, the company is progressing in streamlining the business through decreasing its cost base, restructuring its offshore fleet, and adding rig production. The Macondo report recommended more reliable drilling activity in from BOP systems and the Shear Max Cow Force Casing Shear Rams addresses some of the regulatory issues. Overall, management is de-risking the business through increasing onshore rights and improving shipyard time. The subsequent greater certainty with earnings will inspire investor entry. NOV is further doing well with exercising options and Petrobras trade.

Consensus estimates for NOV's EPS are that it will grow by 14.7% to $4.69 and then by 25.6% and 14.9% more in the following two years. Assuming a multiple of 17x and a conservative 2012 EPS of $5.80, the rough intrinsic value of the stock is $98.60, implying 39% upside.

Baker Hughes similarly had a strong third quarter performance with record sales figures. The company is increasing staff by 20% in the Marcellus and ramping up production in the Utica, which illustrates confidence in end market demand. While difficulties in integrating BJ Services and sand taking shortages will mitigate margins in the fourth quarter, the company's expansions will spread out fixed costs. The company recently reached a $640M contract with the Iraqi government for three years worth of building 60 wells in Zubair. This comes off of an earlier 23-well deal with Lukoil.

Consensus estimates for Baker Hughes' EPS are that it will grow by 94.6% to $4.32 and then by 28.2% and 18.8% more in the following two years. Of the 14 revisions to estimates, 13 have gone down for a net change of -0.7%. Assuming a multiple of 16x and a conservative 2012 EPS estimate of $5.47, the rough intrinsic value of the stock is $87.52. If the multiple were to hold steady at 12.8x and 2012 EPS is flat to the consensus of the preceding year, the stock would still rise by 32.2%. Baker Hughes thus deserves its near "strong buy" rating on the Street.

It is important to note that analysts are bullish on the sector, in general. The much smaller Newpark Resources (NR), for example, trades at a respective 14x and 10.5x past and forward earnings and is rated a "strong buy" as well.

[eastunder]

Bernstein Starts National-Oilwell Varco (NOV) at Outperform

January 6, 2012 8:27 AM EST

Bernstein initiates coverage on National-Oilwell Varco (NYSE: NOV) with an Outperform. PT $100.00.

[eastunder]

4Q earnings 2-02-12 BMO

National Oilwell Varco Announces Fourth Quarter and 2011 Earnings Conference Call

Press Release: National Oilwell Varco, Inc. – Fri, Dec 2, 2011 9:16 AM EST.. .


HOUSTON--(BUSINESS WIRE)-- National Oilwell Varco, Inc. (NYSE: NOV - News) has scheduled a conference call to discuss fourth quarter and 2011 earnings on Thursday, February 2, 2012 at 8:00 a.m. Central Time. Financial results for the fourth quarter and full year ending on December 31, 2011 are expected to be released that morning before the market opens.

The call will be broadcast through the Investor Relations link on National Oilwell Varco’s web site at www.nov.com, and a replay will be available on the site for thirty days following the conference. Participants may also join the conference call by dialing 1-800-447-0521 within North America or 1-847-413-3238 outside of North America five to ten minutes prior to the scheduled start time, and ask for the “National Oilwell Varco Earnings Conference Call.”

National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry.


.
.
Contact:.
.
National Oilwell Varco, Inc.
Clay Williams, 713-346-7606

[Trueheart]

Hey, OSR, thanks for the posting.

So that piker has only half a billion in NOV? Petty stuff.

Trueheart