NOV recently secured a contract from Equinor to supply flexible pipe for three subsea tieback projects on the Norwegian Continental Shelf under the NCS2035 program. The stock has posted a 30-day share price return of 8.83%, a year-to-date return of 23.89%, and a one-year total shareholder return of 51.87%. With NOV closing at $20.33 against a narrative fair value of $21.40, the stock appears about 5% undervalued, though its price-to-earnings ratio of 80.2 times is well above the US Energy Services industry average of 27.5 times. Sustained investment in energy infrastructure, including LNG and gas processing, supports long-term growth in NOV's composite pipe and process systems.
NOV Inc.Secured contract from Equinor to supply flexible pipe for subsea tieback projects
Equinor ASA ADR
Dell Technologies Inc