NOV (NOV) Scheduled to Post Earnings on Thursday

NOV (NYSE:NOV) is scheduled to issue its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect NOV to post earnings of $0.27 per share for the quarter. NOV has set its FY 2024 guidance at EPS.Parties that wish to listen to the company’s conference call can do so using this link.

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

NOV Price Performance

NOV stock opened at $18.86 on Wednesday. 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 52-week low of $14.05 and a 52-week high of $21.91. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of 7.51, a price-to-earnings-growth ratio of 0.81 and a beta of 1.74. The business has a fifty day moving average of $18.51 and a two-hundred day moving average of $19.18.

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 given a dividend of $0.05 per share. 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 dividend payout ratio is presently 7.97%.

Analyst Ratings Changes

NOV has been the subject of several research analyst reports. Benchmark downgraded shares of NOV from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. TD Cowen cut 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. Piper Sandler lowered their target price 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. Raymond James decreased their price target on shares of NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $26.00 target price on shares of NOV in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $24.36.

Insider Activity

In related news, CAO Christy Lynn Novak sold 3,500 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were 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 of the company’s stock, valued at $1,990,715.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.