NOV (NYSE:NOV) Posts Earnings Results, Beats Expectations By $0.06 EPS

NOV (NYSE:NOV) posted its quarterly earnings data on Tuesday. The oil and gas exploration company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06, Zacks reports. NOV had a net margin of 12.05% and a return on equity of 10.82%.

NOV Stock Performance

Shares of NYSE:NOV traded up $0.29 during trading on Tuesday, hitting $14.58. 3,958,180 shares of the company were exchanged, compared to its average volume of 3,255,505. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. NOV has a 52-week low of $13.94 and a 52-week high of $21.20. The company has a market cap of $5.67 billion, a PE ratio of 5.38, a P/E/G ratio of 0.93 and a beta of 1.64. The stock has a 50 day moving average of $14.95 and a 200 day moving average of $16.19.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Friday, December 6th. NOV’s dividend payout ratio (DPR) is 11.07%.

Wall Street Analysts Forecast Growth

NOV has been the topic of several recent research reports. Citigroup cut shares of NOV from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $21.00 to $18.00 in a research note on Monday, November 11th. Bank of America reduced their target price on NOV from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, October 14th. Stifel Nicolaus lowered their target price on NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Susquehanna reduced their price objective on shares of NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research note on Monday, October 28th. Finally, Piper Sandler initiated coverage on shares of NOV in a research report on Thursday, December 19th. They set a “neutral” rating and a $17.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, NOV currently has an average rating of “Hold” and a consensus target price of $20.00.

Insider Buying and Selling at NOV

In other news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the transaction, the director now owns 110,951 shares in the company, valued at approximately $1,786,311.10. The trade was a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.