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NOV.N

ISIN: US6370711011
SEDOL: 2624486

Rating:

BUY

Target Price:

37.94 USD

Investment Horizon:

6 to 12 months
7th Jul 2009 View Report   Download

Company News Alert

National Oilwell Varco, Inc.'s (NOV) NYSE common stock has declined significantly since our last rating change on 29 May 2009. Although we expect a decline in Exploration and Production activity in the oil and gas industry will limit the number of new orders for the company, we expect the company's existing order backlog will support revenues for its Rig Technology segment during the year. ...

29th May 2009 View Report   Download

Company News Alert

National Oilwell Varco, Inc.'s (NOV) NYSE common stock has appreciated significantly since our 4Q 08 and FY 2008 update report, achieving our target price on 28 May 2009. We believe that NOV's sound current order backlog will support revenues from its Rig Technology segment, however exploration and production spending by oil and gas companies will remain suppressed, limiting the new orders for NOV. Hence we believe the…

24th Apr 2009 View Report   Download

1Q 09 News Alert

National Oilwell Varco, Inc. (NOV) reported strong 1Q 09 results, with its top-line and operating performance broadly in line with our expectations, while earnings were above our expectation. Although NOV reported a decline in order backlog, we believe its current order backlog will support growth in the company’s Rig Technology segment revenues over our investment horizon. We do not anticipate a change in our current rating for NOV’s NYSE common stock over our…

23rd Feb 2009 View Report   Download

4Q 08 & FY 2008 Update Report

Going forward, we expect a reduction in E&P;activity in North America will impact revenue and earnings in its PSS and Distribution segments, as North America contributes approximately 58% and 75% to segmental revenues, respectively. We forecast a decline of 13.6% and 6.9% in its PSS and Distribution, respectively in FY 2009. However, we expect the company’s Rig technology segment will continue to perform well and report slightly y-o-y higher revenue in FY…

5th Feb 2009 View Report   Download

4Q 08 News Alert

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National Oilwell Varco, Inc. (NOV) reported strong 4Q 08 results in line with our expectations, reflecting strong performances across all of its business segments. Although Management expects a decline in revenues from its PSS and Distribution services segments, this will be partially offset by an anticipated strong performance from its Rig technology segment. As we believe NOV will continue…