NOV (NOV) Set to Announce Quarterly Earnings on Thursday

NOV (NYSE:NOV) is scheduled to issue its quarterly earnings data 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.Parties that wish to register for the company’s conference call can do so using this link.

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

NOV Stock Down 2.1 %

NYSE NOV opened at $18.47 on Thursday. The stock has a market cap of $7.30 billion, a PE ratio of 7.36, a P/E/G ratio of 0.36 and a beta of 1.74. NOV has a fifty-two week low of $14.05 and a fifty-two week high of $21.91. The business has a 50 day moving average price of $18.39 and a two-hundred day moving average price of $19.20. 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 Dividend Announcement

The business 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. This represents a $0.20 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Wednesday, March 13th. NOV’s dividend payout ratio is presently 7.97%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of NOV by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 38,925,240 shares of the oil and gas exploration company’s stock worth $629,810,000 after purchasing an additional 349,025 shares in the last quarter. BlackRock Inc. raised its holdings in shares of NOV by 0.8% in the 1st quarter. BlackRock Inc. now owns 37,748,140 shares of the oil and gas exploration company’s stock worth $698,718,000 after purchasing an additional 284,784 shares in the last quarter. State Street Corp raised its holdings in shares of NOV by 3.8% in the 2nd quarter. State Street Corp now owns 14,141,887 shares of the oil and gas exploration company’s stock worth $226,836,000 after purchasing an additional 513,846 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of NOV by 48.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,822,009 shares of the oil and gas exploration company’s stock worth $246,962,000 after purchasing an additional 3,843,096 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of NOV by 88.0% in the 1st quarter. Invesco Ltd. now owns 5,810,818 shares of the oil and gas exploration company’s stock worth $113,950,000 after purchasing an additional 2,720,566 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NOV shares. StockNews.com upgraded NOV from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Raymond James cut their target price on NOV from $28.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, February 5th. Benchmark lowered NOV from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Stifel Nicolaus cut their target price on NOV from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Finally, TD Cowen dropped 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $24.36.

NOV Company Profile

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.