If you are an investor in National Oilwell Varco, prepare yourself for this upcoming quarter. That's because, like it announced in the previous quarter, the company is likely to see its backlog of orders decline thanks to a downturn in the rig market. Lots of analysts will likely say this is a sign of weakness at National Oilwell Varco. If they do, then it's their loss, because despite this downturn in the rig market there are plenty of reasons to think that it will be a long-term success -- and someone looking at the long term can still get shares on the cheap.
Tune into the video below to find out why analysts who jump the gun will be sorely mistaken in the long term and how NOV stacks up against oil services peers Schlumberger and Halliburton in terms of value.