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

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

NOV Price Performance

NOV stock traded up $0.29 during trading on Tuesday, reaching $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 quick ratio of 1.65 and a current ratio of 2.57. The stock’s 50 day moving average price is $14.95 and its 200 day moving average price is $16.19. 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 P/E ratio of 5.38, a PEG ratio of 0.93 and a beta of 1.64.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.06%. NOV’s dividend payout ratio is presently 11.07%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NOV. Evercore ISI restated an “in-line” rating and set a $18.00 target price (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. BMO Capital Markets dropped their price objective 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. Bank of America decreased their target price on shares of NOV from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, October 14th. TD Cowen reduced their price objective on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Finally, Susquehanna decreased their price objective on NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research report on Monday, October 28th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Insider Buying and Selling at NOV

In other NOV news, Director David D. Harrison sold 1,784 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the sale, the director now owns 110,951 shares of the company’s stock, valued at approximately $1,786,311.10. This represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.85% of the stock is currently owned by corporate 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.