NOV (NYSE:NOV) Announces Quarterly Earnings Results

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

NOV Stock Performance

NYSE:NOV traded down $0.05 during mid-day trading on Friday, reaching $18.90. 6,693,844 shares of the company’s stock were exchanged, compared to its average volume of 4,326,763. NOV has a one year low of $14.05 and a one year high of $21.91. The firm has a market capitalization of $7.47 billion, a PE ratio of 7.37, a price-to-earnings-growth ratio of 0.82 and a beta of 1.74. The business’s fifty day simple moving average is $18.57 and its two-hundred day simple moving average is $19.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.51 and a current ratio of 2.40.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Wednesday, March 13th. NOV’s dividend payout ratio is 7.97%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NOV. Susquehanna restated a “positive” rating and set a $26.00 target price on shares of NOV in a report on Monday, April 8th. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 target price on shares of NOV in a report on Tuesday, February 6th. Piper Sandler reduced their target price on shares of NOV from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. StockNews.com upgraded shares of NOV from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Raymond James reduced their target price on shares of NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $24.36.

Insider Buying and Selling

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

NOV Company Profile

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.