Brokers Issue Forecasts for NOV’s Q4 Earnings (NYSE:NOV)

NOV Inc. (NYSE:NOV) – Equities researchers at Atb Cap Markets lifted their Q4 2024 earnings per share (EPS) estimates for shares of NOV in a research note issued on Sunday, October 27th. Atb Cap Markets analyst W. Syed now forecasts that the oil and gas exploration company will post earnings per share of $0.34 for the quarter, up from their previous estimate of $0.32. The consensus estimate for NOV’s current full-year earnings is $1.60 per share. Atb Cap Markets also issued estimates for NOV’s Q1 2025 earnings at $0.32 EPS and Q1 2026 earnings at $0.36 EPS.

Several other analysts have also recently commented on NOV. Susquehanna decreased their price target on shares of NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research note on Monday. TD Cowen decreased their price objective on NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Monday. BMO Capital Markets decreased their price target on shares of NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company downgraded shares of NOV from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $20.00 to $16.00 in a report on Wednesday, September 25th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $24.00 price objective on shares of NOV in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, NOV currently has a consensus rating of “Moderate Buy” and an average price target of $21.93.

NOV Trading Down 0.3 %

NOV stock opened at $15.35 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. The firm’s 50 day moving average price is $16.40 and its 200-day moving average price is $17.76. NOV has a 1 year low of $14.98 and a 1 year high of $21.23. The stock has a market cap of $6.04 billion, a P/E ratio of 5.66, a PEG ratio of 0.91 and a beta of 1.67.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NOV. Rothschild Investment LLC bought a new position in NOV in the second quarter worth about $28,000. American National Bank & Trust purchased a new position in NOV in the third quarter worth $39,000. International Assets Investment Management LLC increased its position in shares of NOV by 1,590.1% during the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 2,735 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of NOV during the 2nd quarter valued at $78,000. Finally, Signaturefd LLC boosted its position in shares of NOV by 67.6% in the 2nd quarter. Signaturefd LLC now owns 4,443 shares of the oil and gas exploration company’s stock worth $84,000 after purchasing an additional 1,792 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.96%. NOV’s dividend payout ratio is presently 11.07%.

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.