$NOV - Oil Drilling Equipment Supplier
If you missed out on the oil and crude plays of recent weeks, this play might be for you.
Oil drillers are allegedly feeling the pain of a worker shortage, and drilling equipment shortage.
According to CNN, "They can't find people, and can't find equipment," said Robert McNally, president of consulting firm Rapidan Energy Group. "It's not like they're available at a premium price. They're just not available."
NOV Inc. designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors worldwide. The company operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.
So this equation is simple. NOV makes the drilling supplies that companies are so eager to find right now. The stock is also at historic lows.
This could be a very fun play heading forward.
Oil drillers are allegedly feeling the pain of a worker shortage, and drilling equipment shortage.
According to CNN, "They can't find people, and can't find equipment," said Robert McNally, president of consulting firm Rapidan Energy Group. "It's not like they're available at a premium price. They're just not available."
NOV Inc. designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors worldwide. The company operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.
So this equation is simple. NOV makes the drilling supplies that companies are so eager to find right now. The stock is also at historic lows.
This could be a very fun play heading forward.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.