"We sense a turn for the better coming in the oil sector," says Peter Way who tracks 'big money' investors for his Block Trader Oil & Gas Report. Here's his look at the "big block" traders.
"When we use the hedging analysis employed in our stock price forecasts, there are significant differences between some adjacent futures expirations. Here's the current picture:
"Front month (November) hedging suggests likely near-term higher prices. But the December contracts are likely to continue the past 3-month price decline - briefly.
The attacks on T. Boone Pickens' plans -- everything from his integrity and self-interest to his quixotic nature -- as Jim Cramer says, "just makes no sense whatsoever. They hold no water at all.
They are just wrong and misguided. The people against him, the ones that call him a dreamer, are the ones who have done no homework and are deeply cynical. And if they don't keep their mouths shut, we will forever be addicted to foreign oil."
We've exited a lot of pure "oil" plays - well frankly we never had huge positions in direct oil plays but we've had some exposure over the year to the oil services space due to the fact that with oil at $60, $80, $100, $120, or $140 they should thrive. National OilwellVarco (NOV) is one of those names and they put out yet another quality quarter today, and it seems to be absorbing it's acquisition of Grant Prideco quite well [Dec 17: National OilwellVarco is Buying Grand Prideco]
National Oilwell Varco Inc (NOV), an oilfield services company, said on Tuesday its second-quarter profit rose
This is quite a traumatic selloff, but once these momentum trades reverse, a lot of rats want to get off the same ship through a very narrow door. I said I would not believe this is a bottom until THE strongest sector (natural gas) got hit, and it appears I'm getting my (ahem) wish. I'm going to being placing some orders into the panic, into 2 service names and one natural gas name we began yesterday.
On the service side we cast Core Laboratories (CLB) to the side early this week [Bookeeping: Closing Core Laboratories] To compensate for that "position" in terms of sector exposure by final...
The financials are in free fall, construction is stagnant, the airlines are trying not to crash and the automakers are hitting the skids – there is no denying the overall market really sucks right now. But, enough with the doomsday predictions and cough cough, the possibility that the US Government could lose its AAA credit rating! Let’s focus on what is working – deepwater drilling.
Oil at over $140 per barrel has opened up a lot of oil sources that, at lower oil prices, would not have been economically feasible. A lot of these reserves are deep underwater – like Petroleo Brasileiro's (PBR)
Congress has finally decided to consider what President Reagan had proposed in the 1980s. The opening of our coastline to oil drillers seems to be a great move in trying to keep the price of oil down. Not only will it do this but it will also help the United States with its deficit as we will import less oil. It will also provide a new stream of revenue for Exxon (XOM), ConocoPhillips (COP) and Chevron (CVX). This newfound growth will increase capital expenditures as companies scramble for growth.
The most important factor of this drilling is that it is not a want, but a need. Politicians
With the price of gasoline rising almost every day and crude prices just off record peaks, it brings back memories of the last great oil shock, in 1980.
I continue to knock on every piece of wood, artificial or otherwise,as we continue to stake through this earnings period without a majorblowup.<!----> With so many positions this is a bit uncanny - and myassumption will be this only means next earnings period we'll be takingsome body blows as what the market gives, she takes away soon enough.But for now we enjoy.
Deep sea oil driller Atwood Oceanics (ATW)reports a serious beat on the bottom line and a solid beat on the topline. This continues the pattern in the sector and it only getsbetter from here as old contracts disappear and new contra
Crude oil peaked at 100 in
January, dipped into a trading range of 86 to 94 for about a month, and has now
broken out to the upside reaching 98 this morning. This has allowed a number of
oil drilling/exploration and oil equipment/services companies to rally and they
are doing quite well today.<o:p></o:p>
Tupperware Brands Corporation ( NOV ) engages in the manufacture and sale of kitchen products, and beauty and personal care products worldwide. It sells its products directly to distributors, directors, managers, and dealers. Tupperware Brands Corporation was founded in 1996 and is headquartered in Orlando, Florida.
Tupperware brands has been generating a lot of attention lately due to its impressive fourth quarter results, reported on Jan 29. Revenue for the quarter grew 12% to $492.9 million. Income grew 38% to $54.9 million, producing earnings of 65 c
National Oilwell Varco ( NOV ) said fourth-quarter profit rose 57% as high energy prices lifted demand for its oilfield equipment and services. Fourth-quarter net income was $376.7 million, or $1.05 per diluted share, compared with $239.2 million, or 68 cents per diluted share in the same period a year earlier. Revenue rose to $2.66 billion from $2.08 billion a year earlier. The picture is looking bright with oil hitting $100 a barrel.
After a major backdrop in this stock price recently due to the terrible over-reaction to the stock market conditions has put NOV at a discount. Buy this stock now, or later, whenever is fine. Because this company is WELL below where it should be. Buy and hold this magnificant company.
Hello Friends! Thanks so much for stopping by and visiting my blog, Stock Picks Bob's Advice! As always, please remember that I am an amateur investor, so please remember to consult with your professional investment advisers prior to making any investment decisions based on information on this website.
Earlier today I posted about how I purchased 105 shares of National Oilwell Varco (NOV) at $117.92. This purchase was enabled by my partial sale of Kyphon (KYPH) yesterday which, since I was below my maximum of 20 positions, 'entitled' me to add a new position to bring my portfolio up to th
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NOV
About National Oilwell Varco Inc
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Earlier today I 
