5 High Growth Energy Stocks to Buy Now

4. NOV Inc. (NYSE:NOV)

On March 25, NOV Inc. (NYSE:NOV) announced plans to invest $200 million to significantly expand capacity at its subsea flexible pipe manufacturing facility in Acu, Brazil, effectively doubling output over the next several years. Management cited sustained long-term demand driven by deepwater developments and an anticipated replacement cycle for aging infrastructure, with current capacity already operating near full utilization and backlog extending into 2028. This expansion positions NOV to capture increasing offshore activity and reinforces its role as a critical supplier in the global energy value chain.

Earlier, on March 4, Goldman Sachs raised its price target on NOV Inc. (NYSE:NOV) to $20 from $17 while maintaining a Sell rating, noting that while geopolitical risks may introduce near-term volatility, underlying industry fundamentals remain supportive. The firm highlighted that structural drivers, including the need to offset production declines and expand capacity, are likely to sustain customer investment levels over the long term.

NOV Inc. (NYSE:NOV) is a global provider of equipment, technology, and services to the oil and gas industry, with a history spanning over a century. Headquartered in Houston, Texas, the company plays a vital role in supporting drilling and production operations worldwide. With increasing offshore investment and strong backlog visibility, NOV is well-positioned to benefit from a multi-year upcycle, supporting a favorable investment outlook with meaningful upside potential.