Q4 Earnings Estimate for NOV Issued By Griffin Securities

NOV Inc. (NYSE:NOV) – Research analysts at Griffin Securities reduced their Q4 2024 earnings per share estimates for NOV in a report released on Sunday, November 10th. Griffin Securities analyst K. Simpson now anticipates that the oil and gas exploration company will post earnings of $0.37 per share for the quarter, down from their prior forecast 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 equities research analysts have also recently weighed in on NOV. Evercore ISI upgraded shares of NOV to a “strong-buy” rating in a research report on Friday, July 26th. Citigroup downgraded shares of NOV from a “buy” rating to a “neutral” rating and dropped their target price for the company from $21.00 to $18.00 in a report on Monday. Barclays decreased their price target on NOV from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. TD Cowen dropped their price objective on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Finally, Stifel Nicolaus cut their price objective on NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.64.

NOV Stock Down 1.8 %

Shares of NOV opened at $16.24 on Tuesday. The company’s 50-day moving average price is $16.03 and its 200 day moving average price is $17.55. NOV has a 12-month low of $14.98 and a 12-month high of $21.23. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. The firm has a market cap of $6.32 billion, a P/E ratio of 5.99, a price-to-earnings-growth ratio of 0.96 and a beta of 1.66.

Hedge Funds Weigh In On NOV

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norden Group LLC purchased a new position in NOV in the first quarter worth approximately $196,000. Janney Montgomery Scott LLC lifted its position in shares of NOV by 41.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 19,223 shares of the oil and gas exploration company’s stock worth $375,000 after purchasing an additional 5,646 shares during the last quarter. Sei Investments Co. grew its stake in shares of NOV by 1.4% during the first quarter. Sei Investments Co. now owns 638,976 shares of the oil and gas exploration company’s stock worth $12,473,000 after purchasing an additional 9,055 shares in the last quarter. Headlands Technologies LLC purchased a new position in NOV in the first quarter valued at $353,000. Finally, Entropy Technologies LP acquired a new stake in NOV in the first quarter valued at $229,000. 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.