NOV (NYSE:NOV) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

NOV (NYSE:NOV) posted its earnings results on Tuesday. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06, Zacks reports. NOV had a net margin of 12.05% and a return on equity of 10.82%.

NOV Stock Up 2.0 %

Shares of NYSE NOV traded up $0.29 during mid-day trading on Tuesday, reaching $14.58. The company had a trading volume of 3,958,180 shares, compared to its average volume of 3,255,505. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 5.38, a PEG ratio of 0.93 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. The stock has a fifty day moving average of $14.95 and a two-hundred day moving average of $16.19. NOV has a 12-month low of $13.94 and a 12-month high of $21.20.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.06%. The ex-dividend date was Friday, December 6th. NOV’s dividend payout ratio (DPR) is currently 11.07%.

Analyst Ratings Changes

A number of research firms have weighed in on NOV. Wells Fargo & Company decreased their target price on shares of NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Atb Cap Markets lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Seaport Res Ptn downgraded NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. TD Cowen lowered their price target on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 28th. Finally, Susquehanna decreased their target price on NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research report on Monday, October 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, NOV has a consensus rating of “Hold” and an average price target of $20.00.

Insider Activity at NOV

In other NOV news, Director David D. Harrison sold 1,784 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the transaction, the director now owns 110,951 shares of the company’s stock, valued at $1,786,311.10. This represents a 1.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.85% of the company’s stock.

About NOV

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.