NOV (NOV) Set to Post Quarterly Earnings on Thursday

NOV (NYSE:NOV) will announce its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.27 per share for the quarter. NOV has set its FY 2024 guidance at EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

NOV (NYSE:NOV) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $1.10. NOV had a net margin of 11.57% and a return on equity of 10.79%. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the company posted $0.26 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, analysts expect NOV to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

NOV Trading Up 1.5 %

Shares of NOV opened at $18.86 on Wednesday. The business’s 50-day moving average price is $18.51 and its 200-day moving average price is $19.18. 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 has a market cap of $7.46 billion, a PE ratio of 7.51, a P/E/G ratio of 0.81 and a beta of 1.74. NOV has a twelve month low of $14.05 and a twelve month high of $21.91.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.06%. NOV’s payout ratio is currently 7.97%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of NOV from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. TD Cowen lowered their price target on NOV from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, February 5th. Susquehanna reiterated a “positive” rating and issued a $26.00 price objective on shares of NOV in a report on Monday, April 8th. Piper Sandler decreased their price objective on NOV from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, February 20th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 price target on shares of NOV in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $24.36.

Insider Buying and Selling

In other news, CAO Christy Lynn Novak sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total transaction of $61,005.00. Following the transaction, the chief accounting officer now directly owns 114,212 shares of the company’s stock, valued at $1,990,715.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.85% of the stock is owned by insiders.

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.