Griffin Securities Weighs in on NOV's Q4 Earnings (NYSE:NOV)

NOV Inc. (NYSE:NOV - Free Report) - Investment analysts at Griffin Securities reduced their Q4 2024 earnings per share estimates for shares of NOV in a report released on Sunday, November 10th. Griffin Securities analyst K. Simpson now expects that the oil and gas exploration company will post earnings per share of $0.37 for the quarter, down from their prior estimate of $0.47. The consensus estimate for NOV's current full-year earnings is $1.61 per share. Griffin Securities also issued estimates for NOV's Q1 2025 earnings at $0.33 EPS, Q2 2025 earnings at $0.41 EPS, Q3 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.52 EPS and FY2025 earnings at $1.70 EPS.

NOV has been the topic of a number of other reports. Wells Fargo & Company reduced their price target on NOV from $16.00 to $15.00 and set an "underweight" rating on the stock in a research report on Monday, November 4th. Barclays cut their target price on NOV from $17.00 to $16.00 and set an "underweight" rating on the stock in a research report on Tuesday, October 29th. Evercore ISI upgraded shares of NOV to a "strong-buy" rating in a research note on Friday, July 26th. Bank of America decreased their price objective on shares of NOV from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Finally, Benchmark reissued a "hold" rating on shares of NOV in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $21.64.

NOV Trading Up 0.2 %

NYSE NOV traded up $0.03 during trading hours on Tuesday, hitting $16.56. 2,058,799 shares of the company were exchanged, compared to its average volume of 3,716,021. NOV has a 52 week low of $14.98 and a 52 week high of $21.23. The stock has a 50-day moving average price of $16.06 and a 200 day moving average price of $17.58. The stock has a market cap of $6.44 billion, a PE ratio of 6.10, a price-to-earnings-growth ratio of 0.93 and a beta of 1.66. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26.

Hedge Funds Weigh In On NOV

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wintrust Investments LLC lifted its holdings in shares of NOV by 631.6% during the 1st quarter. Wintrust Investments LLC now owns 81,943 shares of the oil and gas exploration company's stock worth $1,600,000 after acquiring an additional 70,743 shares during the last quarter. Stanley Laman Group Ltd. bought a new position in shares of NOV during the second quarter worth $4,031,000. Deprince Race & Zollo Inc. lifted its position in NOV by 1,194.1% during the second quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company's stock valued at $32,431,000 after purchasing an additional 1,574,188 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in shares of NOV by 1,866.3% in the 2nd quarter. WINTON GROUP Ltd now owns 841,078 shares of the oil and gas exploration company's stock worth $15,989,000 after acquiring an additional 798,303 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. purchased a new position in NOV in the 2nd quarter worth about $1,100,000. Institutional investors own 93.27% of the company's stock.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.30 annualized dividend and a dividend yield of 1.81%. NOV's dividend payout ratio (DPR) is presently 11.07%.

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.