Bullish Case: NOV Inc. [NOV], an equipment and services provider to the oil and gas industry, may benefit from rising oil prices and the resumption of drilling activities, particularly if there is increased global demand for energy.


Show historical bullish cases

Bearish Case: NOV Inc. [NOV] could potentially face risks associated with fluctuating oil prices, regulatory pressure on the oil and gas industry, and the overall trend toward renewable energy, which could impact the demand for its services and equipment.


Show historical bearish cases

Takeaway: For NOV to overcome bearish pressures, diversification into services and equipment for renewable energy sectors could prove beneficial. Nonetheless, current market conditions and rising energy demands can still provide short term growth opportunities. Note: The given description does not provide any specific citations related to NOV as of November 14, 2023. Therefore, no references were provided.


Show historical takeaways

Potential Outcomes:

1. Oil Prices Continue to Rise (50% chance): If oil prices increase, this may intensify exploration and drilling activities and lead to increased demand for NOV's services and equipment.

2. The Shift to Renewable Energy Accelerates (30% chance): This could decrease the demand for oil-based energy and by extension, decrease demand for NOV's products and services.

3. Regulatory Restrictions Heighten (20% chance): Policymakers could impose more restrictions on fossil fuel-based industries to curb climate change, which could negatively impact NOV.


November 14, 2023







Correlated Stock Forecasts

Assets that tend to move strongly with NOV



CPE Forecast + Options Trading Strategies   [CPE]  Callon Petroleum (0.87)


APA Forecast + Options Trading Strategies   [APA]  Apache (0.83)


XLE Forecast + Options Trading Strategies   [XLE]  Energy Select Sector SPDR (0.82)


GPS Forecast + Options Trading Strategies   [GPS]  Gap (0.82)


ERF Forecast + Options Trading Strategies   [ERF]  Enerplus (0.82)



Uncorrelated Stock Forecasts

Assets with little price relationship to NOV



EDV Forecast + Options Trading Strategies   [EDV]  Vanguard Group, Inc. - Vanguard Extended Duration Treasury (-0.0)


CSCO Forecast + Options Trading Strategies   [CSCO]  Cisco Systems (-0.0)


CSGP Forecast + Options Trading Strategies   [CSGP]  Costar Group (0.0)


LKQ Forecast + Options Trading Strategies   [LKQ]  LKQ (-0.0)


HUM Forecast + Options Trading Strategies   [HUM]  Humana (0.0)



Anticorrelated Stock Forecasts

Assets that tend to move strongly against NOV



OR Forecast + Options Trading Strategies   [OR]  Osisko Gold Royalties (-0.63)


HMY Forecast + Options Trading Strategies   [HMY]  Harmony Gold Mining (-0.66)


MDLZ Forecast + Options Trading Strategies   [MDLZ]  Mondelez International (-0.67)


GFI Forecast + Options Trading Strategies   [GFI]  Gold Fields (-0.73)


FAZ Forecast + Options Trading Strategies   [FAZ]  Direxion Daily Financial Bear 3x Shares (-0.73)