NOV (NYSE:NOV) Releases Earnings Results, Beats Expectations By $0.22 EPS

NOV (NYSE:NOV) issued its quarterly earnings data on Thursday. The oil and gas exploration company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.35 by $0.22, Briefing.com reports. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.19 billion. NOV had a return on equity of 11.15% and a net margin of 11.88%. NOV’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 earnings per share.

NOV Trading Up 6.4 %

NYSE:NOV opened at $19.87 on Friday. The firm has a market capitalization of $7.86 billion, a P/E ratio of 7.98, a P/E/G ratio of 0.58 and a beta of 1.70. The company has a quick ratio of 1.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average of $18.37 and a 200 day moving average of $18.61. NOV has a 52 week low of $16.77 and a 52 week high of $21.91.

NOV Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.51%. This is an increase from NOV’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, June 14th. NOV’s payout ratio is presently 12.05%.

Analyst Ratings Changes

NOV has been the subject of a number of research reports. Bank of America cut their price target on shares of NOV from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Piper Sandler reduced their target price on NOV from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. TD Cowen dropped their price target on NOV from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Susquehanna reiterated a “positive” rating and issued a $26.00 price objective on shares of NOV in a report on Monday, April 8th. Finally, Benchmark reissued a “hold” rating on shares of NOV in a report on Friday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $24.07.

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.