NOV Inc. (NYSE:NOV) – Equities researchers at Capital One Financial boosted their Q2 2021 earnings estimates for shares of NOV in a note issued to investors on Wednesday, April 28th. Capital One Financial analyst L. Lemoine now anticipates that the oil and gas exploration company will post earnings per share of ($0.10) for the quarter, up from their previous estimate of ($0.14). Capital One Financial also issued estimates for NOV’s Q3 2021 earnings at ($0.04) EPS, Q4 2021 earnings at $0.01 EPS, FY2021 earnings at ($0.40) EPS, Q1 2022 earnings at $0.03 EPS, Q2 2022 earnings at $0.08 EPS, Q3 2022 earnings at $0.13 EPS and FY2022 earnings at $0.38 EPS.
NOV (NYSE:NOV) last released its quarterly earnings data on Thursday, February 4th. The oil and gas exploration company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.30). NOV had a negative net margin of 36.63% and a positive return on equity of 1.13%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion.
A number of other research firms have also recently issued reports on NOV. Zacks Investment Research cut shares of NOV from a “hold” rating to a “sell” rating and set a $18.00 price objective on the stock. in a research report on Thursday, March 11th. Smith Barney Citigroup upgraded shares of NOV from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 12th. Bank of America upgraded shares of NOV from an “underperform” rating to a “neutral” rating and set a $16.00 price target on the stock in a research report on Wednesday, January 6th. Wells Fargo & Company upgraded shares of NOV from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $13.50 to $17.00 in a research report on Thursday, January 21st. Finally, COKER & PALMER cut shares of NOV from a “sector perform” rating to an “underperform” rating in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $14.81.
NOV stock opened at $15.56 on Monday. The firm’s 50-day moving average price is $13.98 and its two-hundred day moving average price is $13.37. NOV has a 12-month low of $7.70 and a 12-month high of $17.50. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of -2.31 and a beta of 2.22. The company has a current ratio of 2.85, a quick ratio of 1.93 and a debt-to-equity ratio of 0.33.
A number of institutional investors have recently modified their holdings of NOV. First Trust Advisors LP lifted its position in NOV by 111.4% during the first quarter. First Trust Advisors LP now owns 127,021 shares of the oil and gas exploration company’s stock valued at $3,384,000 after purchasing an additional 66,949 shares during the period. Sei Investments Co. lifted its position in NOV by 39.0% during the third quarter. Sei Investments Co. now owns 652,814 shares of the oil and gas exploration company’s stock valued at $5,915,000 after purchasing an additional 183,086 shares during the period. Louisiana State Employees Retirement System lifted its position in NOV by 22.3% during the fourth quarter. Louisiana State Employees Retirement System now owns 24,100 shares of the oil and gas exploration company’s stock valued at $331,000 after purchasing an additional 4,400 shares during the period. TrimTabs Asset Management LLC bought a new position in NOV during the fourth quarter valued at approximately $1,931,000. Finally, First Hawaiian Bank lifted its position in NOV by 25.5% during the fourth quarter. First Hawaiian Bank now owns 25,342 shares of the oil and gas exploration company’s stock valued at $348,000 after purchasing an additional 5,146 shares during the period. Institutional investors own 94.50% of the company’s stock.
In other news, VP Scott K. Duff sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 23rd. The shares were sold at an average price of $14.81, for a total value of $148,100.00. Corporate insiders own 0.92% of the company’s stock.
NOV Inc designs, constructs, manufactures, and sells systems, components, and products for use in oil and gas drilling and production, and industrial and renewable energy sectors worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.
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