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Sydnee Gatewood
Sydnee Gatewood
Articles (3340) 

First Eagle Global Value Team Comments on National Oilwell Varco

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October 21, 2020 | About:
Shares of Texas-based National Oilwell Varco (NYSE:NOV) declined during the quarter. Energy producers—particularly American shale drillers—were forced to cut budgets in the face of slumping oil prices, reducing the company's business in the process. Though oil production appears unlikely to pick up meaningfully in the near term, servicers like National Oilwell Varco may be able to take advantage of consolidation opportunities in what may become a structurally improved environment.

From First Eagle Investment (Trades, Portfolio)'s Global Value Team's third-quarter 2020 commentary.

About the author:

Sydnee Gatewood
I am the editorial director at GuruFocus. I have a BA in journalism and a MA in mass communications from Texas Tech University. I have lived in Texas most of my life, but also have roots in New Mexico and Colorado. Follow me on Twitter! @gurusydneerg

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