NOV (NYSE:NOV) Releases Earnings Results, Beats Estimates By $0.03 EPS

NOV (NYSE:NOV) issued its quarterly earnings results on Thursday. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03, Briefing.com reports. NOV had a return on equity of 10.79% and a net margin of 11.57%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the company earned $0.32 EPS. NOV’s quarterly revenue was up 9.8% compared to the same quarter last year.

NOV Stock Down 0.3 %

NOV stock traded down $0.05 during midday trading on Friday, reaching $18.90. The company’s stock had a trading volume of 6,693,844 shares, compared to its average volume of 4,326,763. NOV has a fifty-two week low of $14.05 and a fifty-two week high of $21.91. The company has a quick ratio of 1.51, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. The company has a market cap of $7.47 billion, a P/E ratio of 7.37, a P/E/G ratio of 0.82 and a beta of 1.74. The business has a 50-day simple moving average of $18.57 and a 200-day simple moving average of $19.17.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Wednesday, March 13th. NOV’s payout ratio is currently 7.97%.

Insider Buying and Selling at NOV

In related news, CAO Christy Lynn Novak sold 3,500 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total value of $61,005.00. Following the transaction, the chief accounting officer now owns 114,212 shares in the company, valued at approximately $1,990,715.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.85% of the stock is owned by insiders.

Analysts Set New Price Targets

NOV has been the subject of several recent research reports. Susquehanna reissued a “positive” rating and issued a $26.00 price target on shares of NOV in a research report on Monday, April 8th. Benchmark cut NOV from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 target price on shares of NOV in a report on Tuesday, February 6th. Raymond James reduced their target price on NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, February 5th. Finally, Stifel Nicolaus dropped their price target on NOV from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.36.

About NOV

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.