I'm making one of my rare non-mechanical buys on P&P. I think the recent sell-off in NOV is overdone, but that said, it doesn't mean I'm predicting that tomorrow the stock will skyrocket---only that it'll outperform over the next few years. The PE to 5-year-projected-growth is only 0.7 and the trailing PE is < 13. Free cash flow has been strong for the past few years. They just won a major contract, and new regulations of gulf oil wells is likely to benefit NOV, as they're a major provider of blowout preventers.