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

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

NOV Stock Down 0.4 %

Shares of NOV stock opened at $18.87 on Friday. NOV has a 12-month low of $14.05 and a 12-month high of $21.91. The firm has a market capitalization of $7.46 billion, a PE ratio of 7.58, a price-to-earnings-growth ratio of 0.82 and a beta of 1.74. 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 stock’s fifty day moving average is $18.60 and its 200-day moving average is $19.16.

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 dividend of $0.05 per share. 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 is presently 8.03%.

Analysts Set New Price Targets

Several equities research analysts have commented on NOV shares. Stifel Nicolaus dropped their price target on shares of NOV from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. StockNews.com raised NOV from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. TD Cowen decreased their price target on NOV from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 price objective on shares of NOV in a research note on Tuesday, February 6th. Finally, Benchmark downgraded shares of NOV from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $24.36.

Insider Activity at NOV

In other NOV 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 transaction of $61,005.00. Following the sale, the chief accounting officer now owns 114,212 shares in the company, valued at approximately $1,990,715.16. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.85% of the stock is currently owned by corporate 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.