National Oilwell Varco

With a market cap of $13.5 billion, National Oilwell Varco is a leading manufacturer of drilling equipment sold primarily to drilling contractors, marine rig shipyards in Korea and Singapore, and other rig fabricators from plants largely located in Texas. Its revenue is heavily dependent on oil and gas producer and drilling contractor capital spending and the outlook for drilling activity; both of which are sensitive to changes in the price of oil.
With a market cap of $13.5 billion, National Oilwell Varco (NOV) is a leading manufacturer of drilling equipment sold primarily to drilling contractors, marine rig shipyards in Korea and Singapore, and other rig fabricators from plants largely located in Texas. Its revenue is heavily dependent on oil and gas producer and drilling contractor capital spending and the outlook for drilling activity; both of which are sensitive to changes in the price of oil.
Recently, Warren Buffett has made headlines by selling all of his shares in Exxon Mobil, the rest of his position in ConocoPhillips, and reducing his stake in National Oilwell Varco. This has people wondering if the glory days of oil investing are over.