This cos earnings should be going up!!


Charlie

$NOV National-Oilwell Varco (NYSE:NOV)

2018 EPS Estimate: $0.10
2019 EPS Estimate: $1.11 (+1,010.0%)
Stock Price: $44.26
P/E Ratio: -105.4
Dividend Yield: 0.46 %
Consensus Rating: Hold
Ratings Breakdown: 4 Buy Ratings, 17 Hold Ratings, 2 Sell Ratings.
Consensus Price Target: $37.3333 (-15.6% Upside)

National Oilwell Varco started at Hold at R. F. Lafferty

National Oilwell Varco (NOV +0.8%) is initiated with a Hold rating and a $39 price target at R. F. Lafferty.

The firm believes oil producers will consume the spare capacity in service, equipment and technologies as they begin to reactivate drilling activities, and the uptick in demand will drive potential new orders and increase NOV's backlog, which will result in higher revenues and margin expansion.

Given the robust outlook for service providers, Lafferty believes the expected oil recovery in H2 2017 and going into 2018 already is priced in the stock.

Multiple valuation analyses imply National Oilwell Varco $NOV is 8% undervalued... earnings Tuesday:

Fair Value Analysis

I added NOV yesterday to diversify a bit. IRET and FGP have been great dividend paying stocks too - higher yield than NOV, in fact. IRET relatively stable and dividend paying for 30 years too.

Both FGP and IRET were at 52 week lows again recently, so great time to buy those too.

Factors that hurt NOV’s fiscal 4Q15: (a) $1.2 billion in order cancellations, primarily related to floaters in Brazil. (b) Drillers delaying acceptance of contracted new-build rigs due to low demand. (c) Lower prices and volumes due to reduced drilling demand in North America. (d) a lower margin in the Rig aftermarket segment.

Offsetting these negatives was $272 million in order additions in well completion & production segment.

NOV’s total backlog now stands at $7.0 billion.

Scotia Howard Weil. an energy investment research and financial service provider, gave NOV a one-year target price of $45.

Barclays (BCS) gave National Oilwell Varco a one-year target price of $44.

NOV's sell-side analysts set a median target price ~$34.50.

NOV has 7% annual yield at $29 per share. Where are you gonna get 7% with bank interest rates near zero? NOV will be selling in 2 years for $60 per share, and still pay 7% return on every dime you invest now! So, in 2 years you get a double plus a 14% dividends. That amounts to a 214% return on investment or 107% per year!

Holy Smokes... time to buy more NOV.

Notes 2/3/2016... National Oilwell Varco:

This is 2 year buy and hold.

Other oil service companies, especially drillers and well head service companies, have large fleets of equipment that need to be maintained. By contrast, NOV is in the business of manufacturing that equipment. So the company has little equipment maintenance. This is a big advantage during tough times.

The company has a large build of inventory that has eaten into the company's cash so far this year. It can still generate enough cash to more than cover its capital spending and its dividend. With $1.85 billion in cash on the balance sheet, there is more than enough to cover and cash shortfall.

NOV still has a pretty healthy balance sheet. It has repurchased $3 billion worth of the company's stock over the last year.

Dividend: http://www.nasdaq.com/symbol/nov/dividend-history

__________________________________________________________


52-Week High (Apr 15, 2015): 56.64
52-Week Low (Feb 3, 2016): 26.10
50-Day Moving Average: 31.88
200-Day Moving Average: 37.20


Book Value Per Share (mrq): 48.24

Total Cash (mrq): 1.85B

PEG Ratio (5 yr expected)1: -1.00 ****The lower the PEG ratio, the more the stock may be undervalued given its earnings performance.

Market Cap (intraday): 10.61B
Enterprise Value (Feb 4, 2016): 12.66B
Trailing P/E (ttm, intraday): 8.34
Forward P/E (fye Dec 31, 2016)1: 19.07

_________________________________________________

While the oil market struggles, NOV has delivered the follow:

Gross Profit (ttm): 5.81B
Revenue (ttm): 17.74B
Revenue Per Share (ttm): 44.25
Return on Assets (ttm): 4.53%
Return on Equity (ttm): 6.79%
Profit Margin (ttm): 7.60%
Operating Margin (ttm): 13.04%

Company Profile

National Oilwell Varco, Inc. provides equipment and components that are used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry. The company operates through the following segments: Rig Systems, Rig Aftermarket, Wellbore Technologies, Completion and Production Solutions. The Rig Systems segment designs, manufactures and sells land rigs, offshore drilling equipment packages, including installation and commissioning services, and drilling rig components that mechanize and automate the drilling process and rig functionality. The Rig Aftermarket segment provides spare parts, repair, and rentals as well as technical support, field service and first well support, field engineering, and customer training through a network of aftermarket service and repair facilities strategically located in major areas of drilling operations. The Wellbore Technologies segment designs, manufactures, rents, and sells a variety of equipment and technologies used to perform drilling operations, and offers services that optimize their performance. The Completion and Production Solutions segment integrates technologies for well completions and oil and gas production. National Oilwell Varco was founded in 1841 and is headquartered in Houston, TX.

Back in NOV at $27.40--- Those that dumped out are likely kicking themselves in the arse about now. Obviously, the 10% hit was not at all deserved considering the negative market conditions last quarter. I think the bad quarter should have been expected. I also think NOV released all their bad news to get the worse behind them. I see a quick pop back to $31 at least and maybe a move back to $35 within 2 weeks if WTI climbs about $36 per barrel.

I also think NOV is trying hard to make some great acquisitions. Buying distressed companies is Clay Williams's call to fame. He built NOV on smart acquisitions during downturns. Clay is a a real pro in the oil patch!

National Oilwell Varco (NYSE:NOV): Q3 EPS of $0.61 beats by $0.05.

Revenue of $3.31B (-40.8% Y/Y) misses by $160M.

National Oilwell Varco (NYSE:NOV) names Jose Bayardo as its new senior VP and CFO, succeeding interim CFO Scott Duff.

Prior to joining NOV, Bayardo served as senior VP for resource and business development at Continental Resources, and once was an investment banker at J.P. Morgan.

Texas-based oilfield service companies National Oilwell Varco (NOV -1.9%) and Cal Dive (OTCPK:CDVIQ) International are cutting a combined 276 jobs in the state this month, according to state regulators.

NOV WANT TO AQUIRE MORE ASSETS TO GROW INCOME!

HOUSTON — National Oilwell Varco said Tuesday it expects to continue making acquisitions amid low oil prices that have strained profits in the oil service and equipment industry.

Chairman and CEO Clay Williams didn’t specify which companies NOV had in its sights, but said it was in talks with several rivals and would be interested in expanding any of its major businesses, which include a broad spectrum of oil equipment manufacturing and repair.

“Generally in a cyclical downturn, our view is that it becomes a buyer’s market,” Williams said. “We’ve had three (deals) closed so far this year, and we’ve got another half-dozen letters of intent along with some larger transactions that we’ve reached out to some companies to explore.”

The Houston-based oil equipment fabricator said it’s casting such a wide net in order to find deals it can push through.

“It can be a challenging market to get deals done, because most companies don’t particularly want to sell at the bottom,” Williams said. “The way we’ve adjusted our strategy is to increase the number of conversations we’re having.”

Executives at NOV said they’d boosted their revolving credit line to $4.5 billion during the second quarter in order to fund acquisitions. Williams also hinted that the company may dial back its share repurchases in favor of buying other companies after it completes the final $300 million of a $3 billion share repurchase program NOV began in September 2014.

NOV and the entire oil service sector have seen some of their business dry up recently as producers have cut back on drilling due to lower crude oil prices.

“Almost all of our business units posted lower sequential sales due to lower oil prices and lower activity around the globe, with only a few areas like Argentina and the Middle East bucking a trend, ” Williams said. “We also felt the full-quarter effect of customer discounts implemented during the first quarter.”

NOV reported Tuesday second-quarter net income of $286 million, down from $620 million in the second quarter of 2014. Revenues in the second quarter of 2015 were $3.91 billion, down 19 percent from the first quarter and down 26 percent from the second quarter of 2014. The company reported a $17 million, pre-tax charge for layoffs and facilities closure.

NOV said its backlog for capital equipment orders for drilling rigs fell to $9.03 billion, down 13 percent from the first quarter of 2015 and 41 percent from the end of the second quarter of last year. The company saw $313 million in new orders during the quarter.

NOV’s business in maintenance and oil field repairs was also hit hard, executives said, as drillers have used parts off of idled rigs to save money on repairs. NOV said it expects orders to pick up as oilfield service companies gradually exhaust their inventories of parts and are forced to order new ones.

“We believe spending levels are not sustainable,” Williams said. But a recovery may not be right around the corner, he added: “Customers living hand to mouth aren’t sure if a particular unit will ever get another job and sure don’t want to put cash into equipment.”

Shares of National Oilwell Varco gained $1.28 or 3.1 percent to $42.93 on Tuesday. The company’s shares have lost about 34.5 percent so far in 2015 and about 47.5 percent over the past 12 months.

Categories: Crude oil
Tags: National Oilwell Varco | NOV

National Oilwell Varco (NYSE:NOV) says it will cut 1,500 jobs from its Norwegian workforce, or a bit less than a third of its staff there, by the end of this year as low oil prices have led to reduced spending by oil companies and lower sales of new equipment; 900 permanent jobs and 600 contract workers will be cut.

You have to love nov among many of its competitors. Lets move.

Petrobras contracts suspended by Brazilian judge. Potentially $3.3 billion in backlog on the line. Ugh...

$NOV I expect the company's operating income margin of 15% to decline this quarter and possibly in the future. National Oilwell may be able to cut general and administrative expenses (9% of revenue) and engage in layoffs, but the cost reductions will most likely be unable to match the expected 15% sequential revenue decline. Anyway, I would not be surprised if the company announced a round of layoffs similar to that of competitors like Halliburton (NYSE:HAL), Schlumberger (NYSE:SLB) and Baker Hughes (NYSE:BHI). Layoffs at some of the top oil services firms amid the oil industry downturn are now north of 48,000.

http://seekingalpha.com/article/3106766-national-oilwell-varcos-earnings-preview-3-key-items

Puts puts get your puts $$$
All imo

National Oilwell (NYSE:NOV) - the company that operates the rigs that facilitate production - announced that rig orders are coming in below expectations and they are closely monitoring the impact of lower oil prices going forward.

National Oilwell Varco Remains Our Preferred Large-Cap Investment Idea, Says William Blair http://www.smarteranalyst.com/2014/07/30/national-oilwell-varco-remains-our-preferred-large-cap-investment-idea-says-william-blair/

He was only having a rush because he imagined shooting a black man... its only a racist quality control supervisor ant NOV

Their Tanker/Rig is Sinking!!!lolz

Geeze why is the stock tanking this morning?

Earnings call transcript

http://www.earningsimpact.com/Transcript/84170/NOV/Q3-2013-Earnings-Call

What Is Causing Oil Services to Flock Overseas?
By Tyler Crowe

There are lots of opportunities in the energy industry, but several oil services companies are looking past the borders of North America for their profits. National Oilwell Varco (NYSE: NOV  ) has 92% of its rig backlog dedicated to international customers, and Nabors Industries (NYSE: NBR  ) is pulling some of its rigs out of the U.S. to be used overseas. 

Rig companies and other oil services providers are finding that the expertise and equipment that was developed in the U.S. to make oil and gas exploration more efficient is now in demand abroad. Companies are looking to lend their expertise to others and pull in a hefty profit along the way. Tune into the video below where Fool.com contributor Tyler Crowe takes a look at some other companies planning to dedicate more business to international customers, and asks what value they would offer.

One possible reason that international customers are lining up is that the U.S. has a distinct advantage in the energy industry today.
http://www.fool.com/investing/general/2013/08/23/what-is-causing-oil-services-to-flock-overseas.aspx


(holding in a nice upward trend, so far.)

http://seekingalpha.com/article/1628902-why-im-still-bullish-on-national-oilwell-varco

@East - Right!? Either way upside from here yaahhhhhh!

Cazenove dropped their target price on shares of National Oilwell Varco (NYSE:NOV) from $85.00 to $84.00

What a hoot! Why even bother? LOL

$NOV - Analysts at JPMorgan Cazenove dropped their target price on shares of National Oilwell Varco (NYSE:NOV) from $85.00 to $84.00 in a research report issued to clients and investors on Thursday, StockRatingsNetwork reports. JPMorgan Cazenove’s price target would indicate a potential upside of 17.98% from the stock’s previous close.

Shares of National Oilwell Varco (NYSE:NOV) opened at 71.20 on Thursday. National Oilwell Varco has a one year low of $63.08 and a one year high of $89.95. The stock’s 50-day moving average is currently $71.00. The company has a market cap of $30.422 billion and a P/E ratio of 12.76.

http://www.watchlistnews.com/2013/08/02/national-oilwell-varco-given-new-84-00-price-target-at-jpmorgan-cazenove-nov/

$NOV - Quarterly Snapshot

For the quarter, the company reported earnings of $531 million, or $1.24 per share, up from $502 million, or $1.17 a share sequentially from the first quarter of this year.

Backing out $57 million in pre-tax transactions charges, however, boosted the most recent quarter's per-share number to $1.33, in line with analysts' consensus expectations.

Revenues for the quarter were $5.60 billion, up 6% sequentially and 18% year over year.

And approaching a breakout area. Guess I should pay attention again.

Thanks for tagging me so I would look at the charts, Jett! I always appreciate that!

Jen

$NOV - In the last three years the company has shown a tremendous performance due to an increase in oil rigs in the years 2011 and 2012, and this is the reason the company has managed to grow its revenues at a Compound Annual Growth Rate (CAGR) of 28.04%.

Despite tough competition, the company's margins were slightly hurt last year, with a 17.7% operating margin and a 13% net margin respectively, but the company successfully raised its return on invested capital from 11.32% in 2011 to 11.83%in 2012, respectively.

The company has recently raised debt to finance in its operations to meet the increasing demand.

Quarter 2 details

Excluding one-time charges of $57 million, earnings were $568 million, or a $1.33 per fully diluted share on revenues of $5.6 billion
http://www.earningsimpact.com/Transcript/82330/NOV/National-Oilwell-Varco%2c-Inc----Q2-2013-Earnings-Call

Very attractively priced here.

Rallied for a month. Lets see what comes next..second wind?

NOV at 70.

$NOV - If you like Benjamin Graham ideas here are a few to consider.

i. National Oilwell Varco operates as an oilfield equipment and services company. National Oilwell Varco provides equipment used for both onshore and offshore drilling. National Oilwell Varco also provides assembly and maintenance services for oilfield equipment.

ii. Graham's conditions for being a conservatively financed company are just that, conservative. When applying how stringent Grahams parameters are, only a small hand full of companies are picked. The point of this is to ensure that the company we add to our portfolio has enough assets to avoid bankruptcy if the economy turns south.

In an attempt to simplify and save time we are going to look at total assets vs. liabilities. We are looking for at least twice as many assets as liabilities or 200%. As of the first quarter 2013 National Oilwell Varco has $33,556,000,000 in assets and $13,007,000,000 in liabilities. The assets are 258% of liabilities.

iii. Graham wanted to see at least 20 years of paying consecutive dividends. National Oilwell Varco has been consecutively paying a dividend since late 2009. Currently they have a payout ratio of 9%.

iv. A P/E of 20 at the current EPS of $5.58 is $111.60 a share.

http://seekingalpha.com/article/1440811-benjamin-graham-s-rules-for-the-common-stock-component-national-oilwell-varco

I am a buyer here. The trend as you pointed out is our friend. The second half of this year should be excellent for oil & gas services.

NOV

68.19 and tick tocking!

Am I the only one who thinks NOV is about to bust a move?

Boone Pickens has over 90,000 shares of this cheap driller.

Warren Buffett also has 5mm shares within Berkshire Hathaway.

The 26 analysts that cover the stock have a median price target of $85 a share on the stock -- more than 25% above its current price level.

NOV is selling at around 10x 2014's projected earnings, and the stock is selling in the bottom third of five year valuation range based on P/S, P/CF and P/B.

Analysts expect mid-double digit revenue growth, and the stock trades at a five year projected PEG of less than 1 (.80).

$NOV - Hedge Fund Watch - Similar to Halliburton, NOV provides services and equipment to oilfield and exploration companies. NOV recently posted positive earnings at the start of this month, inline with the consistent earnings beats they posted throughout 2012.

Like many of his oil positions, Pickens' capitulated on a majority of his holdings going into this last filing, as the stock gave the worst performance in relation to the rest of Pickens' list.

Billionaire Jeffrey Vinik decided to take an opposing view and built a $3.7mm position in the stock, primarily buying in the third quarter of 2012.

National Oilwell Varco Announces Fourth Quarter and Full Year 2012 Earnings

Friday , February 01, 2013 07:00ET

HOUSTON--(BUSINESS WIRE)-- National Oilwell Varco, Inc. (NYSE: NOV) today reported that for the fourth quarter ended December 31, 2012 it earned net income of $668 million, or $1.56 per fully diluted share. Earnings improved nine percent compared to the third quarter of 2012, and improved 16 percent compared to the fourth quarter of 2011. Excluding $51 million in pre-tax transaction charges and a net $69 million tax benefit related to certain U.S. foreign tax credits in the fourth quarter of 2012, net income was $638 million, or $1.49 per fully diluted share, down two percent from the third quarter of 2012, and up nine percent from the fourth quarter of 2011, excluding transaction charges from all periods. The net $69 million tax benefit resulted from a strategic reorganization of certain foreign operations to more fully integrate recently acquired business groups.

Revenues reported for the full year 2012 were $20.04 billion, and net income was $2.49 billion, or $5.83 per fully diluted share. Operating profit for the full year 2012 was $3.55 billion. Excluding $143 million in pre-tax transaction charges and a net $69 million tax benefit related to certain U.S. foreign tax credits in 2012, net income was $2.52 billion, or $5.91 per fully diluted share, and operating profit was $3.69 billion or 18.4 percent of sales, for the full year 2012. Earnings per share increased 24 percent from 2011, excluding transaction charges and unusual tax benefits from both periods.

Revenues for the fourth quarter increased seven percent sequentially to $5.69 billion. Operating profit for the fourth quarter, excluding transaction charges, was $954 million or 16.8 percent of sales, up one percent from the third quarter of 2012. Operating profit flow-through, or the change in operating profit divided by the change in revenue, was two percent from the third quarter of 2012 to the fourth quarter of 2012, and was seven percent from the fourth quarter of 2011 to the fourth quarter of 2012, excluding transaction charges from all periods.

Backlog for capital equipment orders for the Company's Rig Technology segment at December 31, 2012 was a record at $11.86 billion, up two percent from the third quarter of 2012. New orders during the quarter were $2.42 billion, reflecting continued good demand for oilfield equipment.

Pete Miller, Chairman and CEO of National Oilwell Varco, remarked, "The fourth quarter marked a strong finish to a record-breaking year. For the year, the Company's continued investments in technology, product and service line extensions, facilities and machines, and our people, enabled us to better support our customers and establish new benchmarks in revenues, net income and ending backlog. I would like to thank all of our dedicated employees for their hard work and outstanding execution this year.

As we enter 2013, we recognize that there are some near-term headwinds facing us in the North American land market. However, we are excited to be entering the year with strong financial resources, a solid backlog, a well-constructed and balanced business, and an experienced and capable group at NOV that remains committed to delivering the highest quality of products and services to our customers. We also enter the year with the firm belief that the oil and gas industry will continue to upgrade the world's aging rig fleet, while simultaneously building out both a deepwater and a worldwide shale infrastructure that are still in the early stages of development, and we look forward to playing a leadership role in those efforts."

Rig Technology

Fourth quarter revenues for the Rig Technology segment were $2.90 billion, an increase of 14 percent from the third quarter of 2012 and an increase of 25 percent from the fourth quarter of 2011. Operating profit for this segment was $648 million, or 22.4 percent of sales, an increase of six percent from the third quarter of 2012 and an increase of seven percent from the fourth quarter of 2011. Sequential operating profit flow-through was 11 percent. Year-over-year operating profit flow-through was eight percent. Revenue out of backlog for the segment increased 16 percent sequentially and increased 25 percent year-over-year, to $2.21 billion for the fourth quarter of 2012.

Petroleum Services & Supplies

Revenues for the fourth quarter of 2012 for the Petroleum Services & Supplies segment were $1.77 billion, up three percent compared to third quarter 2012 results and up 13 percent compared to fourth quarter 2011 results. Operating profit was $355 million, or 20.1 percent of sales, down seven percent from the third quarter of 2012 and an increase of 18 percent from the fourth quarter of 2011. Operating profit flow-through was 27 percent from the fourth quarter of 2011 to the fourth quarter of 2012.

Distribution & Transmission

Fourth quarter revenues for the Distribution & Transmission segment were $1.27 billion, down four percent from the third quarter of 2012, and up 126 percent from the fourth quarter of 2011 (due mostly to previously disclosed mergers completed in 2012). Fourth quarter operating profit was $78 million or 6.2 percent of sales. Operating profit flow-through was flat sequentially, and was five percent from the fourth quarter of 2011 to the fourth quarter of 2012.

Continued at:

http://www.knobias.com/story.htm?eid=3.1.817e59ef07756cf02adfce921503e5846e3caa95047a3958e4c868f01fa1aad2

NOV: Q4 EPS $1.56 vs $1.37 Beats $1.44 Est

Friday , February 01, 2013 07:47ET

QUARTER RESULTS
National Oilwell Varco, Incorporated (NOV) reported Q4 results ended December 2012. Q4 Revenues were $5,685.00M; +33.48% vs yr-ago; BEATING revenue consensus by +7.22%. Q4 EPS was $1.56; +13.87% vs yr-ago; BEATING earnings consensus by +8.33%.

Q4 RESULTS      Reported      Year-Ago     Y/Y Chg      Estimate    SURPRISE 
 ----------  ------------  ------------  ----------  ------------  ---------- 
 Revenues:     $5,685.00M    $4,259.00M     +33.48%    $5,302.31M      +7.22% 
 ----------  ------------  ------------  ----------  ------------  ---------- 
 EPS:               $1.56         $1.37     +13.87%         $1.44      +8.33% 
 ----------  ------------  ------------  ----------  ------------  ----------

FY RESULTS      Reported      Year-Ago     Y/Y Chg      Estimate    SURPRISE 
 ----------  ------------  ------------  ----------  ------------  ---------- 
 Revenues:    $20,041.00M   $14,658.00M     +36.72%   $19,657.03M      +1.95% 
 ----------  ------------  ------------  ----------  ------------  ---------- 
 EPS:               $5.83         $4.77     +22.22%         $5.85      -0.34% 
 ----------  ------------  ------------  ----------  ------------  ----------

NOV Open Gaps 69.95 & 68.45

Direction Date range
up Jan-10-2013 69.95 to 70.05
up Jan-02-2013 68.45 to 68.86

Read more at http://www.stockta.com/cgi-bin/analysis.pl?symb=NOV&num1=1&cobrand=&mode=stock#D1UK8psPrUvKrg8J.99

$NOV Highlights: I am very bullish for 2013.

Market Cap: $28.95 billion

Current Share Price: $67.82

52-Week Range: $59.07-$89.95

Trailing P/E: 12.05

PEG: 0.73

Price/Book: 1.49

Profit Margin: 12.88%

Total Cash: $1.70 billion

Total Debt: $1.53 billion

Dividend (%): $0.52 (.80%)

NOV Open gap at 62.66

12-12-12


67.19

Open Gaps
Direction Date range
up Jun-29-2012 62.66 to 63.34

NOV 4Q/Fy 2-01-13 BMO

National Oilwell Varco Announces Fourth Quarter and 2012 Earnings Conference Call

Today : Monday 26 November 2012

National Oilwell Varco, Inc. (NYSE: NOV) has scheduled a conference call to discuss fourth quarter and 2012 earnings on Friday, February 1, 2013 at 8:00 a.m. Central Time. Financial results for the fourth quarter and full year ending on December 31, 2012 are expected to be released that morning before the market opens.