National Oilwell Varco, Inc.
Thesis
Gavin Baker believes that National Oilwell Varco will benefit from increased capital expenditures in the oil service sector as the equipment is aging and needs replacement. Although the stock has risen significantly, he still sees potential for further growth as the demand for drilling services increases.
Did it work?
No price performance data or time elapsed is provided, so the long thesis on National Oilwell Varco cannot be evaluated against actual returns. The thesis hinges on increased oil service capital expenditures and rising drilling services demand due to aging equipment, but there is no evidence given confirming whether these catalysts materialized. Without either a return figure or confirmation of the thesis events, no judgement on success or failure is possible.