Griffin Securities Comments on NOV’s Q4 Earnings (NYSE:NOV)

NOV Inc. (NYSE:NOV) – Analysts at Griffin Securities decreased their Q4 2024 earnings estimates for shares of NOV in a report issued on Sunday, November 10th. Griffin Securities analyst K. Simpson now expects that the oil and gas exploration company will earn $0.37 per share for the quarter, down from their previous estimate of $0.47. The consensus estimate for NOV’s current full-year earnings is $1.59 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.

A number of other analysts have also recently commented on NOV. Wells Fargo & Company cut 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. Susquehanna reduced their price objective on NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research note on Monday, October 28th. Evercore ISI upgraded shares of NOV to a “strong-buy” rating in a research report on Friday, July 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 target price on shares of NOV in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NOV has an average rating of “Hold” and a consensus price target of $21.64.

NOV Price Performance

Shares of NOV opened at $16.24 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. NOV has a 1-year low of $14.98 and a 1-year high of $21.23. The stock has a market cap of $6.32 billion, a PE ratio of 5.99, a price-to-earnings-growth ratio of 0.96 and a beta of 1.66. The firm has a fifty day moving average price of $16.03 and a 200 day moving average price of $17.55.

Institutional Investors Weigh In On NOV

A number of institutional investors have recently added to or reduced their stakes in NOV. Rothschild Investment LLC purchased a new position in shares of NOV during the 2nd quarter worth approximately $28,000. American National Bank & Trust acquired a new position in NOV during the third quarter worth $39,000. International Assets Investment Management LLC raised its position in NOV by 1,590.1% in the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 2,735 shares in the last quarter. Brooklyn Investment Group acquired a new stake in NOV in the third quarter valued at $48,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of NOV during the 2nd quarter worth $78,000. Hedge funds and other institutional investors own 93.27% 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.