Is National Oilwell Varco (NOV) on Its Way to Par?
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Price: $18.02 -0.44%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.7%
Revenue Growth %: -5.0%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 1.7%
Revenue Growth %: -5.0%
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If the recent presidential debates are any indication, drilling for oil and natural gas in the U.S. is quickly becoming sheik, and this could be good for National Oilwell Varco, Inc. (NYSE: NOV), the largest manufacturer of drilling equipment for gas and oil rigs. Its products include rigs, fluids, technology, services, parts, maintenance & repair. The more companies drill, the more products National Oilwell Varco will sell.
National Oilwell Varco stock trades at 12 times forward earnings, compared with 14.6 for the oil-services group, making the stock look cheap by comparison, noted a recent write up in Barron's. If bullish sentiment proves correct, some think National Oilwell Varco could be a $100 stock in two years. It currently trades at $80 per share, suggesting 25% upside.
National Oilwell Varco stock trades at 12 times forward earnings, compared with 14.6 for the oil-services group, making the stock look cheap by comparison, noted a recent write up in Barron's. If bullish sentiment proves correct, some think National Oilwell Varco could be a $100 stock in two years. It currently trades at $80 per share, suggesting 25% upside.
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