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

NOV (NYSE:NOV) announced its earnings results on Thursday. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03, Briefing.com reports. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. NOV had a return on equity of 10.45% and a net margin of 11.23%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS.

NOV Trading Down 0.4 %

NYSE NOV opened at $18.87 on Friday. 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 firm has a 50-day moving average price of $18.60 and a 200 day moving average price of $19.16. NOV has a 52-week low of $14.05 and a 52-week high of $21.91. The stock has a market capitalization of $7.46 billion, a P/E ratio of 7.58, a P/E/G ratio of 0.82 and a beta of 1.74.

NOV Dividend Announcement

The company also recently announced 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 was Wednesday, March 13th. NOV’s dividend payout ratio (DPR) is presently 8.03%.

Analysts Set New Price Targets

NOV has been the subject of a number of analyst reports. TD Cowen decreased their price objective on NOV from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Raymond James lowered their price target on shares of NOV from $28.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, February 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price target on shares of NOV in a report on Tuesday, February 6th. Stifel Nicolaus decreased their price objective on NOV from $28.00 to $26.00 and set a “buy” rating for the company in a report on Monday, February 5th. Finally, StockNews.com raised NOV from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $24.36.

Insider Transactions at NOV

In related news, CAO Christy Lynn Novak sold 3,500 shares of NOV stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total value of $61,005.00. Following the sale, the chief accounting officer now directly owns 114,212 shares in the company, valued at $1,990,715.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.85% of the company’s stock.

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.