NOV (NYSE:NOV) Issues Quarterly Earnings Results

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

NOV Stock Up 2.0 %

NOV stock traded up $0.29 during mid-day trading on Tuesday, reaching $14.58. 3,958,180 shares of the company’s stock were exchanged, compared to its average volume of 3,255,505. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. NOV has a twelve month low of $13.94 and a twelve month high of $21.20. The company has a market cap of $5.67 billion, a P/E ratio of 5.38, a P/E/G ratio of 0.93 and a beta of 1.64. The company has a fifty day moving average of $14.95 and a 200-day moving average of $16.19.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors 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 of this dividend was Friday, December 6th. NOV’s payout ratio is currently 11.07%.

Insiders Place Their Bets

In other news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction dated 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 in the company, valued at approximately $1,786,311.10. This trade represents a 1.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NOV shares. Barclays dropped their price objective on shares of NOV from $16.00 to $12.00 and set an “underweight” rating for the company in a report on Wednesday, December 18th. Seaport Res Ptn downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. Stifel Nicolaus lowered their price objective on NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Wells Fargo & Company reduced their target price on NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Finally, BMO Capital Markets decreased their price target on NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, NOV has an average rating of “Hold” and a consensus price target of $20.00.

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.