Q2 2022 EPS Estimates for NOV Inc. Lifted by Griffin Securities (NYSE:NOV)

NOV Inc. (NYSE:NOVGet Rating) – Stock analysts at Griffin Securities raised their Q2 2022 EPS estimates for NOV in a research note issued on Monday, May 2nd. Griffin Securities analyst K. Simpson now forecasts that the oil and gas exploration company will earn $0.01 per share for the quarter, up from their prior forecast of ($0.03). Griffin Securities has a “Buy” rating and a $26.00 price objective on the stock. Griffin Securities also issued estimates for NOV’s FY2022 earnings at $0.20 EPS and FY2023 earnings at $0.91 EPS.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company boosted their price objective on NOV from $14.00 to $16.00 and gave the stock an “underweight” rating in a report on Thursday, March 31st. Citigroup cut NOV from a “buy” rating to a “neutral” rating and cut their price target for the company from $22.00 to $21.00 in a research note on Monday, March 14th. TheStreet upgraded NOV from a “d” rating to a “c-” rating in a research note on Friday, February 4th. Stifel Nicolaus boosted their price target on NOV from $20.00 to $23.00 in a research note on Friday, April 8th. Finally, Morgan Stanley boosted their price target on NOV from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, April 11th. Four analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.33.

Shares of NYSE:NOV opened at $18.64 on Wednesday. NOV has a 12-month low of $11.46 and a 12-month high of $24.06. The business has a 50 day moving average of $19.35 and a 200-day moving average of $16.33. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.77 and a current ratio of 2.50.

NOV (NYSE:NOVGet Rating) last issued its quarterly earnings data on Thursday, February 3rd. The oil and gas exploration company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). NOV had a negative return on equity of 2.54% and a negative net margin of 3.18%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm earned ($0.42) EPS.

The business also recently declared a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 11th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, March 10th. This represents a $0.20 annualized dividend and a dividend yield of 1.07%. NOV’s dividend payout ratio (DPR) is presently -41.67%.

Several large investors have recently made changes to their positions in the company. TCW Group Inc. increased its holdings in shares of NOV by 1.7% during the fourth quarter. TCW Group Inc. now owns 40,345 shares of the oil and gas exploration company’s stock worth $547,000 after buying an additional 656 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in NOV by 0.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 100,400 shares of the oil and gas exploration company’s stock valued at $1,360,000 after purchasing an additional 700 shares during the period. CWM LLC increased its holdings in NOV by 133.7% in the first quarter. CWM LLC now owns 1,318 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 754 shares during the period. Rockefeller Capital Management L.P. increased its holdings in NOV by 29.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,793 shares of the oil and gas exploration company’s stock valued at $51,000 after purchasing an additional 857 shares during the period. Finally, Arizona State Retirement System increased its holdings in NOV by 0.8% in the third quarter. Arizona State Retirement System now owns 106,408 shares of the oil and gas exploration company’s stock valued at $1,395,000 after purchasing an additional 882 shares during the period. Institutional investors own 93.94% of the company’s stock.

About NOV (Get Rating)

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors worldwide. The company operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

See Also

Earnings History and Estimates for NOV (NYSE:NOV)

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