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Holly LaFon
Holly LaFon
Articles (6666) 

Tweedy, Browne Comments on National Oilwell Varco

July 25, 2013 | About:

The other new holding is National Oilwell Varco (NYSE:NOV), a leading global manufacturer of drilling rig equipment and consumables to the energy industry. It has a leading market position in the segments of the oil & gas industry that are generating the most growth, deepwater drilling and shale drilling. The company has historically generated high returns on capital, has what we believe to be a conservative balance sheet with minimal debt, and at purchase was trading at a significant discount to our estimate of the company's intrinsic value.

From Tweedy Browne's second quarter 2013 letter.


Rating: 4.3/5 (3 votes)

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