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

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

NOV Trading Down 0.4 %

Shares of NOV stock traded down $0.08 on Friday, hitting $18.87. The stock had a trading volume of 8,326,522 shares, compared to its average volume of 4,350,987. The company has a quick ratio of 1.51, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. NOV has a one year low of $14.05 and a one year high of $21.91. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 0.82 and a beta of 1.74. The stock’s 50-day simple moving average is $18.57 and its two-hundred day simple moving average is $19.17.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued 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 dividend payout ratio is 7.97%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NOV shares. Benchmark downgraded shares of NOV from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Piper Sandler decreased their price objective on shares of NOV from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 20th. StockNews.com upgraded shares of NOV from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Raymond James decreased their price objective on shares of NOV from $28.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, February 5th. Finally, Susquehanna restated a “positive” rating and issued a $26.00 price objective on shares of NOV in a research report on Monday, April 8th. 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’s stock. According to MarketBeat, NOV has a consensus rating of “Hold” and an average price target of $24.36.

Insider Transactions at NOV

In related news, CAO Christy Lynn Novak sold 3,500 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 114,212 shares of the company’s stock, valued at $1,990,715.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.85% of the company’s stock.

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.