NOV (NOV) Set to Announce Quarterly Earnings on Thursday

NOV (NYSE:NOV) will be announcing 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.Investors that wish to listen to the company’s conference call can do so using this link.

NOV (NYSE:NOV) last issued its 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 net margin of 11.57% and a return on equity of 10.79%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last 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 Trading Down 2.1 %

Shares of NYSE:NOV opened at $18.47 on Thursday. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 0.36 and a beta of 1.74. NOV has a 1-year low of $14.05 and a 1-year high of $21.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.51 and a current ratio of 2.40. The company has a 50 day moving average price of $18.39 and a 200 day moving average price of $19.20.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.05 per share. 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 payout ratio is 7.97%.

Wall Street Analyst Weigh In

NOV has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their price objective on shares of NOV from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Piper Sandler decreased their price objective on shares of NOV from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, February 20th. ATB Capital set a $33.00 price objective on shares of NOV and gave the stock an “outperform” rating in a research note on Friday, December 22nd. TD Cowen decreased their price objective on shares of NOV from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price objective on shares of NOV in a research note on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $24.36.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FIL Ltd raised its holdings in shares of NOV by 23.9% during the 4th quarter. FIL Ltd now owns 1,236,947 shares of the oil and gas exploration company’s stock valued at $25,085,000 after purchasing an additional 238,396 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in NOV by 2.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 164,286 shares of the oil and gas exploration company’s stock worth $3,332,000 after acquiring an additional 4,488 shares during the period. Oberweis Asset Management Inc. raised its holdings in NOV by 11.3% in the 4th quarter. Oberweis Asset Management Inc. now owns 156,900 shares of the oil and gas exploration company’s stock worth $3,182,000 after acquiring an additional 15,900 shares during the period. Comerica Bank raised its holdings in NOV by 2.1% in the 4th quarter. Comerica Bank now owns 165,587 shares of the oil and gas exploration company’s stock worth $3,358,000 after acquiring an additional 3,390 shares during the period. Finally, Royal Bank of Canada raised its holdings in NOV by 3.6% in the 4th quarter. Royal Bank of Canada now owns 70,215 shares of the oil and gas exploration company’s stock worth $1,424,000 after acquiring an additional 2,462 shares during the period. Institutional investors own 93.27% of the company’s stock.

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.