National Oilwell Varco, Inc.
NOV
position
long
First Eagle Investment Management
Thesis
National Oilwell Varco has a very strong market position and about $12 billion of backlog and net cash on the balance sheet. Despite challenging short-term fundamentals due to the price of oil dropping, the company is well-positioned to emerge stronger from this crisis and has the potential to improve its position in its core segments.
Did it work?
inconclusive
confidence: low
Without specific price performance data or a defined time frame since the pitch, it's difficult to assess whether the thesis has played out. The thesis suggests a long-term positive outlook based on market position and backlog, but without further information, we cannot determine if these factors have materialized or if the stock has performed as expected.
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