에 대한 최신 뉴스 NOV (NYSE:NOV) 주식

NOV (formerly National Oilwell Varco) is a leading supplier of oil and gas drilling rig equipment and products, such as downhole tools, drill pipe, and well casing. The company operates on a global scale, with international markets contributing nearly two thirds of its annual revenue.

NOV Inc

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Citigroup analyst Scott Gruber maintains NOV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>) with a Buy and lowers the price target from $24 to $21.

News

Price Target

Analyst Ratings

Citigroup Maintains Buy on NOV, Lowers Price Target to $21

JP Morgan analyst Arun Jayaram maintains NOV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>) with a Overweight and lowers the price target from $23 to $22.

JP Morgan Maintains Overweight on NOV, Lowers Price Target to $22

Wells Fargo analyst Roger Read downgrades NOV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>) from Equal-Weight to Underweight and lowers the price target from $20 to $16.

Downgrades

Wells Fargo Downgrades NOV to Underweight, Lowers Price Target to $16

6 analysts have expressed a variety of opinions on NOV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $22.83, a high estimate of $28.00, and a low estimate of $20.00. This current average represents a 1.47% decrease from the previous average price target of $23.17. 
<img src="https://www.benzinga.com/files/images/story/2024/1726509652_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
A clear picture of NOV's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Elizabeth Porter</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$23.00</td>
<td>$25.00</td>
</tr>
<tr>
<td>David Anderson</td>
<td>Barclays</td>
<td>Raises</td>
<td>Underweight</td>
<td>$20.00</td>
<td>$17.00</td>
</tr>
<tr>
<td>Marc Bianchi</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$28.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Keith Mackey</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$24.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Saurabh Pant</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$22.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Luke Lemoine</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$20.00</td>
<td>$22.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to NOV. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of NOV compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for NOV's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
For valuable insights into NOV's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/NOV/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on NOV analyst ratings.</a>
<h2>All You Need to Know About NOV</h2>
NOV (formerly National Oilwell Varco) is a leading supplier of oil and gas drilling rig equipment and products, such as downhole tools, drill pipe, and well casing. The company operates on a global scale, with international markets contributing nearly two thirds of its annual revenue.
<h3>A Deep Dive into NOV's Financials</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: NOV displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 5.88%. This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Energy sector.
Net Margin: NOV's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 10.2%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): NOV's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 3.58%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): NOV's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 2.0%, the company showcases efficient use of assets and strong financial health.
Debt Management: With a below-average debt-to-equity ratio of 0.38, NOV adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>Analyst Ratings: What Are They?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Peeling Back The Layers: Exploring NOV Through Analyst Insights

Morgan Stanley analyst Elizabeth Porter maintains NOV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>) with a Overweight and lowers the price target from $25 to $23.

Morgan Stanley Maintains Overweight on NOV, Lowers Price Target to $23

Designed to provide broad exposure to the Energy ETFs category of the market, the First Trust Energy AlphaDEX ETF (ARCA:FXN) is a smart beta exchange traded fund launched on 05/08/2007.
<h2>What Are Smart Beta ETFs?</h2>
Products that are based on market cap weighted indexes, which are strategies designed to reflect a specific market segment or the market as a whole, have traditionally dominated the ETF industry.
Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.
On the other hand, some investors who believe that it is possible to beat the market by superior stock selection opt to invest in another class of funds that track non-cap weighted strategies--popularly known as smart beta.
This kind of index follows this same mindset, as it attempts to pick stocks that have better chances of risk-return performance; non-cap weighted strategies base selection on certain fundamental characteristics, or a mix of such characteristics.
Even though this space provides many choices to investors--think one of the simplest methodologies like equal-weighting and more complicated ones like fundamental and volatility/momentum based weighting--not all have been able to deliver first-rate results.
<h2>Fund Sponsor &amp; Index</h2>
FXN is managed by First Trust Advisors, and this fund has amassed over $478.36 million, which makes it one of the larger ETFs in the Energy ETFs. This particular fund, before fees and expenses, seeks to match the performance of the StrataQuant Energy Index.
The StrataQuant Energy Index is a modified equal-dollar weighted index designed by the AMEX to objectively identify and select stocks from the Russell 1000 Index that may generate positive alpha relative to traditional passive style indices through the use of the AlphaDEX screening methodology.
<h2>Cost &amp; Other Expenses</h2>
Investors should also pay attention to an ETF&#39;s expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.
Operating expenses on an annual basis are 0.62% for this ETF, which makes it on par with most peer products in the space.
The fund has a 12-month trailing dividend yield of 2.02%.
<h2>Sector Exposure and Top Holdings</h2>
Most ETFs are very transparent products, and disclose their holdings on a daily basis. ETFs also offer diversified exposure, which minimizes single stock risk, though it&#39;s still important for investors to research a fund&#39;s holdings.
This ETF has heaviest allocation in the Energy sector - about 99.10% of the portfolio.
Looking at individual holdings, Valero Energy Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vlo#NYSE">VLO</a>) accounts for about 4.23% of total assets, followed by Matador Resources Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mtdr#NYSE">MTDR</a>) and Nov Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nov#NYSE">NOV</a>).
Its top 10 holdings account for approximately 39.22% of FXN&#39;s total assets under management.
<h2>Performance and Risk</h2>
The ETF has gained about 1.68% so far this year and is down about -4.04% in the last one year (as of 09/04/2024). In the past 52-week period, it has traded between $15.73 and $19.35.
The fund has a beta of 1.61 and standard deviation of 28.88% for the trailing three-year period, which makes FXN a high risk choice in this particular space. With about 41 holdings, it has more concentrated exposure than peers.
<h2>Alternatives</h2>
First Trust Energy AlphaDEX ETF is an excellent option for investors seeking to outperform the Energy ETFs segment of the market. There are other ETFs in the space which investors could consider as well.
Vanguard Energy ETF (ARCA:VDE) tracks MSCI US Investable Market Energy 25/50 Index and the Energy Select Sector SPDR ETF (ARCA:XLE) tracks Energy Select Sector Index. Vanguard Energy ETF has $8.22 billion in assets, Energy Select Sector SPDR ETF has $36.48 billion. VDE has an expense ratio of 0.10% and XLE charges 0.09%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Energy ETFs.
<a href="https://www.zacks.com/stock/news/2331117/is-first-trust-energy-alphadex-etf-fxn-a-strong-etf-right-now?cid=CS-BENZ-FT-smart_beta_etf-2331117">To read this article on Zacks.com click here.</a>

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Barclays analyst David Anderson maintains NOV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>) with a Underweight and raises the price target from $17 to $20.

Barclays Maintains Underweight on NOV, Raises Price Target to $20

NOV Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nov#NYSE">NOV</a>) reported second-quarter 2024 adjusted earnings of 57 cents per share, which beat the Zacks Consensus Estimate of 35 cents and increased from the year-ago quarter&#39;s level of 39 cents. The outperformance can be attributed to improving execution, customer demand and pricing.
The oil and gas equipment and services company&#39;s total revenues of $2.2 billion surpassed the Zacks Consensus Estimate by 1.5%. The top line also increased 5.9% from the year-ago quarter&#39;s figure of $2.1 billion. The better-than-expected performances in major segments are the influencing factors.
In the second quarter, NOV repurchased 2 million shares of common stock at an average price of $18.5 per share and increased its base dividend by 50%. NOV also recorded a net credit of $118 million, primarily attributed to gains from the divestiture of its Pole Products business.
The company declared an accelerated return of capital to its shareholders totaling $67 million in the quarter. This was executed through its share repurchases authorized under NOV&#39;s $1 billion program.
<div class="chart_embed">
<h3>NOV Inc. Price, Consensus and EPS Surprise</h3>
<img alt="NOV Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/c2/1722244215.png" style="height:265px; width:577px" title="" />
NOV Inc. price-consensus-eps-surprise-chart | NOV Inc. Quote
</div>
<h3>Segmental Performances</h3>
Energy Products and Services: The unit reported second-quarter revenues of $1.1 billion, which missed our projection of $1.07 billion, but exceeded the prior-year quarter&#39;s reported figure of $1 billion, attributed to strong demand in international and offshore markets.
Adjusted EBITDA of $184 million was below our estimate of $185.7 million. The reported actuals decreased from $198 million in the corresponding period of 2023, owing to declined North American activity.
Energy Equipment: Revenues in this segment increased 7.8% year over year to $1.2 billion. Additionally, the figure beat our projection of $1.15 billion.
Adjusted EBITDA of $142 million increased from the year-earlier quarter&#39;s level of $99 million. The segment&#39;s revenues and profitability increased because of solid demand for aftermarket products and services, strong execution on the growing capital equipment backlog and cost-saving initiatives. Additionally, the figure was more than our estimate of $140.7 million.
This segment experienced strong demand, with new orders of $977 million in the quarter, indicating a $466 million increase from that reported a year ago, resulting in a book-to-bill ratio of 177%.
As of Jun 30, the backlog for Energy Equipment capital orders was $4.3 billion, reflecting a $472 million increase from that reported a year ago.
<h3>Balance Sheet</h3>
As of Jun 30, 2024, the company had cash and cash equivalents of $827 million and long-term debt of $1.7 billion, with a debt-to-capitalization of 21.1%.
This Zacks Rank #3 (Hold) generated $432 million in operating cash flow and $350 million in free cash flow in this quarter.
<h3>Outlook</h3>
For the third quarter, the company&#39;s management projects consolidated revenues to be flat or increase by a low single-digit percentage range year-over-year, with adjusted EBITDA expected between $270 million and $305 million.
NOV&#39;s management also estimates consolidated revenue growth in the low to mid-single digits percent and Adjusted EBITDA between $1.10 billion and $1.18 billion for full-year 2024. The company expects capital expenditures to be $330 million for the same period.
NOV expects to maintain its commitment to returning excess free cash flow to its shareholders in the years ahead.
The company expects to return at least 50% of Excess Free Cash Flow through a combination of consistent quarterly base dividends, opportunistic stock buybacks and an annual supplemental dividend to adjust returns to its shareholders on an annual basis.
<h3>Important Energy Earnings So Far</h3>
While it&#39;s early in the earnings season, there have been a few key energy releases thus far. Let&#39;s glance through a couple of them.
Liberty Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lbrt#NYSE">LBRT</a>), the Denver-CO-based oil and gas equipment company, announced second-quarter 2024 adjusted earnings of 61 cents per share, which marginally beat the Zacks Consensus Estimate of 60 cents. However, LBRT&#39;s bottom line underperformed the year-ago quarter&#39;s reported figure of 87 cents due to a year-over-year increase in costs and expenses.
Ahead of the earnings release, Liberty&#39;s board of directors announced a cash dividend of 7 cents per common share, payable on Sep 20, 2024, to its stockholders of record as of Sep 6. As part of its shareholder return policy, LBRT repurchased the company&#39;s shares worth $30 million at an average price of $20.39 per share in the reported quarter. Liberty returned $41 million to its shareholders through share repurchases and cash dividends.
Houston, TX-based Halliburton Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hal#NYSE">HAL</a>), an oil and gas equipment and services provider, reported second-quarter 2024 adjusted net income per share of 80 cents, in line with the Zacks Consensus Estimate and above the year-ago quarter profit of 77 cents (adjusted). The robust numbers reflect strength in the international markets.
As of Jun 30, 2024, the company reported $2.1 billion in cash and cash equivalents and $7.6 billion in long-term debt, representing a debt-to-capitalization ratio of 43.2. HAL also bought back $250 million worth of its stock in the April-June period. The company generated $1.1 billion of cash flow from operations in the second quarter, leading to a free cash flow of $793 million.&nbsp;&nbsp;
Meanwhile, energy infrastructure provider Kinder Morgan (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kmi#NYSE">KMI</a>) reported second-quarter adjusted earnings per share of 26 cents, in line with the Zacks Consensus Estimate. The bottom line was favorably impacted by strong financial contributions from the Natural Gas Pipelines, Products Pipelines and Terminals business segments. Moreover, KMI&#39;s second-quarter discounted cash flow (DCF) was $1.10 billion, up from $1.07 billion a year ago.
<div>
As of Jun 30, 2024, Kinder Morgan reported $98 million in cash and cash equivalents. Its long-term debt amounted to $28.5 billion at the quarter-end. For the full year 2024, KMI anticipates a DCF of $5 billion ($2.26 per share) and an adjusted EBITDA of $8.16 billion, each indicating 8% growth from the previous year&#39;s reported figures.
<a href="https://www.zacks.com/stock/news/2310556/nov-q2-earnings-surpass-estimates-revenues-increase-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2310556">To read this article on Zacks.com click here.</a>
</div>

Earnings

Earnings Beats

Dividends

NOV Q2 Earnings Surpass Estimates, Revenues Increase Y/Y

TD Cowen analyst Marc Bianchi maintains NOV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>) with a Buy and raises the price target from $27 to $28.

TD Cowen Maintains Buy on NOV, Raises Price Target to $28

In the preceding three months, 3 analysts have released ratings for NOV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>), presenting a wide array of perspectives from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for NOV, presenting an average target of $22.0, a high estimate of $24.00, and a low estimate of $20.00. Highlighting a 5.7% decrease, the current average has fallen from the previous average price target of $23.33. 
<img src="https://www.benzinga.com/files/images/story/2024/1722268814_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive NOV. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Keith Mackey</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$24.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Saurabh Pant</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$22.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Luke Lemoine</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$20.00</td>
<td>$22.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to NOV. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of NOV compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of NOV's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Capture valuable insights into NOV's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/NOV/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on NOV analyst ratings.</a>
<h2>Get to Know NOV Better</h2>
NOV (formerly National Oilwell Varco) is a leading supplier of oil and gas drilling rig equipment and products, such as downhole tools, drill pipe, and well casing. The company operates on a global scale, with international markets contributing nearly two thirds of its annual revenue.
<h3>Understanding the Numbers: NOV's Finances</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Growth: NOV's remarkable performance in 3 months is evident. As of 31 March, 2024, the company achieved an impressive revenue growth rate of 9.84%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Energy sector.
Net Margin: NOV's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of 5.52%, the company may face hurdles in effective cost management.
Return on Equity (ROE): NOV's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 1.92%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): NOV's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 1.05%, the company may face hurdles in achieving optimal financial performance.
Debt Management: NOV's debt-to-equity ratio is below the industry average at 0.4, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>The Basics of Analyst Ratings</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

NOV Stock: A Deep Dive Into Analyst Perspectives (3 Ratings)

RBC Capital analyst Keith Mackey reiterates NOV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>) with a Sector Perform and maintains $24 price target.

Reiteration

RBC Capital Reiterates Sector Perform on NOV, Maintains $24 Price Target

Benchmark analyst Kurt Hallead reiterates NOV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>) with a Hold.

Benchmark Reiterates Hold on NOV

U.S. stocks were higher, with the Dow Jones index gaining more than 600 points on Friday.
Shares of Norfolk Southern Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>) rose sharply during Friday's session after the company reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/07/39971341/norfolk-southern-stock-surges-on-q2-earnings-the-details">second-quarter earnings results</a>.
Norfolk Southern reported railway operating revenue of $3 billion, up 2% year-over-year. The company delivered adjusted earnings of $3.06 per share, beating analyst estimates of $2.86 per share, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Norfolk Southern shares gained 10.7% to $246.86 on Friday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul>
<li>Coursera, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COUR#NYSE">COUR</a>) shares climbed 46.2% to $10.83 after the company beat second-quarter earnings estimates.</li>
<li>Everi Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVRI#NYSE">EVRI</a>) shares gained 41.1% to $12.93 after it entered an agreement to be acquired by funds managed by Apollo affiliates for $14.25 per share in cash.</li>
<li>Newell Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWL#NASDAQ">NWL</a>) gained 36.6% to $8.66 on better-than-expected second-quarter earnings and raising FY24 outlook.</li>
<li>Liberty Broadband Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LBRDA#NASDAQ">LBRDA</a>) gained 17.6% to $65.16.</li>
<li>Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) shares surged 17% to $368.65 after the company reported better-than-expected second-quarter financial results.</li>
<li>Mohawk Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHK#NYSE">MHK</a>) climbed 16.5% to $156.70 following mixed second-quarter earnings.</li>
<li>Karooooo Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KARO#NASDAQ">KARO</a>) rose 16% to $33.40. Karooooo announced termination of secondary public offering of ordinary shares due to market conditions.</li>
<li>3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) gained 15% to $118.99 after better-than-expected second-quarter financial results and FY24 EPS outlook raise.</li>
<li>International Game Technology PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) jumped 13.4% to $22.86 after the company entered an agreement for its Gaming &amp; Digital business to be acquired by funds managed by affiliates of Apollo.</li>
<li>Avantor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVTR#NYSE">AVTR</a>) gained 11% to $25.32 after the company reported better-than-expected second-quarter earnings results.</li>
<li>Kinsale Capital Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNSL#NYSE">KNSL</a>) surged 9.8% to $414.28 after the company reported better-than-expected second-quarter financial results.</li>
<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) gained 9.4% to $18.21.</li>
<li>Viasat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) gained 9% to $20.58. Viasat announced new reporting segment structure.</li>
<li>Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) shares rose 8.7% to $914.71 as the company reported better-than-expected results for the first quarter. The company said it still expects net sales to increase approximately 10% year-over-year in fiscal year 2025 to $4.7 billion.</li>
<li>Fortune Brands Innovations, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBIN#NYSE">FBIN</a>) gained 8.5% to $78.32 following upbeat earnings.</li>
<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) rose 8.1% to $1,735.99 after Bitcoin rose above $67,000.</li>
<li>Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) climbed 7.6% to $48.69 following strong second-quarter earnings and increased 2024 guidance.</li>
<li>Centene Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>) rose 7.6% to $72.55 following better-than-expected second-quarter financial results and increased 2024 guidance.</li>
<li>PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) climbed 7.4% to $19.51.</li>
<li>Columbia Banking System, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLB#NASDAQ">COLB</a>) gained 7.4% to $25.98 after the company reported better-than-expected quarterly earnings results. Also, multiple firms raised their respective price targets on its stock.</li>
<li>Stanley Black &amp; Decker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWK#NYSE">SWK</a>) surged 6.9% to $95.66. Stanley Black &amp; Decker named Deborah K. Wintner Chief Human Resources Officer, Succeeding John T. Lucas, and increased quarterly dividend from 81 cents to 82 cents per share.</li>
<li>Aon plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>) climbed 6.8% to $319.30 after the company reported better-than-expected quarterly revenue results.</li>
<li>The Hartford Financial Services Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIG#NYSE">HIG</a>) gained 6.6% to $109.07 following better-than-expected quarterly earnings.</li>
<li>NOV Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>) gained 6.1% to $19.81 following upbeat quarterly results.</li>
<li>Lamb Weston Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) gained 5.4% to $55.88.</li>
<li>Ultra Clean Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCTT#NASDAQ">UCTT</a>) shares rose 4.7% to $47.26 following better-than-expected quarterly results.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39984491/nvidia-lockheed-martin-and-2-other-stocks-insiders-are-selling">Nvidia, Lockheed Martin And 2 Other Stocks Insiders Are Selling</a></li>
</ul>

Intraday Update

Movers

ASTS

AVTR

CHTR

COLB

COUR

DECK

EVRI

FBIN

KARO

KNSL

LBRDA

MSTR

PENN

UCTT

VSAT

Norfolk Southern Posts Upbeat Earnings, Joins Newell Brands, Charter Communications, 3M And Other Big Stocks Moving Higher On Friday

For full year 2024, management anticipates&nbsp;Adjusted EBITDA to be in the range of&nbsp;$1.10 billion&nbsp;to&nbsp;$1.18 billion (prior view $1.10 billion&nbsp;to&nbsp;$1.25 billion).

Guidance

NOV Revises FY24 Consolidated Company Revenue Growth Forecast To Low- To Mid-Single Digit Percent Range (Prior View Mid-Single Percentage Range)

For the&nbsp;third quarter&nbsp;management expects Adjusted EBITDA to be between&nbsp;$270 million&nbsp;and&nbsp;$305 million.&nbsp;

NOV Expects Q3 Consolidated Revenues To Be Flat To Up In The Low- Single Digit Percent Range

NOV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>) reported quarterly earnings of $0.57 per share which beat the analyst consensus estimate of $0.35 by 62.86 percent. This is a 46.15 percent increase over earnings of $0.39 per share from the same period last year. The company reported quarterly sales of $2.216 billion which beat the analyst consensus estimate of $2.193 billion by 1.05 percent. This is a 5.88 percent increase over sales of $2.093 billion the same period last year.

NOV Q2 2024 GAAP EPS $0.57 Beats $0.35 Estimate, Sales $2.216B Beat $2.193B Estimate

B of A Securities analyst Saurabh Pant maintains NOV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>) with a Buy and lowers the price target from $24 to $22.

B of A Securities Maintains Buy on NOV, Lowers Price Target to $22

Piper Sandler analyst Luke Lemoine maintains NOV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>) with a Neutral and lowers the price target from $22 to $20.

Piper Sandler Maintains Neutral on NOV, Lowers Price Target to $20

Stocks with three weeks of deteriorating technicals by Piper Sandler

The oilfield services sector benefits from its crucial role in drilling, evaluation, production, and maintenance, which is essential for ensuring energy security and meeting the strong global demand for oil and gas. Therefore, investing in fundamentally solid oilfield services stocks, Baker Hughes (BKR), NOV (NOV), and MRC Global (MRC), could be a wise move to capitalize on this trend. Read on... The oilfield services market is expanding due to strong global demand and increased investments in international markets, particularly in the Middle East and Asia. This growth is driven by rising drilling activity and deepwater projects, with international operations further boosting profits for major service firms and fueling market expansion.
Considering the ongoing reliance on oil and gas, companies that offer oilfield services are poised for growth. Therefore, investing in fundamentally strong oilfield services stocks like Baker Hughes Company (<a href="https://stocknews.com/stock/BKR/">BKR</a>), NOV Inc. (<a href="https://stocknews.com/stock/NOV/">NOV</a>), and MRC Global Inc. (<a href="https://stocknews.com/stock/MRC/">MRC</a>) could be a wise move.
Amid potential challenges like fluctuating demand and economic uncertainties, advancements in technology, growth in offshore and unconventional oilfield exploration, and a focus on energy efficiency offer significant investment opportunities in the oilfield services sector. The global oilfield services market is projected to grow at an annual rate of <a href="https://www.einpresswire.com/article/737426938/global-oilfield-services-growth-trends-anticipated-3-3-cagr-from-2024-to-2031-middle-east-oilfield-services-llc">3.3%</a> from 2024 to 2031, reaching $168.77 billion.
Despite volatility, oilfield drilling remains essential for global energy needs, economic growth, technological advancement, and energy security, making it a promising market.
This is evident as OPEC projects a surge in global oil demand in the latter half of 2024, expecting a <a href="https://www.reuters.com/business/energy/global-oil-demand-needs-rise-faster-absorb-opec-hike-2024-08-09/">2.30 million bpd increase</a>, driven by seasonal factors like increased driving, the Northern Hemisphere harvest, and winter preparations. Given these trends, oilfield services offer a promising investment opportunity. With this in mind, let's explore the fundamentals of the three featured oilfield services stocks.
Baker Hughes Company (<a href="https://stocknews.com/stock/BKR/">BKR</a>)
BKR provides a portfolio of technologies and services to energy and industrial value chains worldwide. The company operates through the Oilfield Services &amp; Equipment (OFSE) and Industrial &amp; Energy Technology (IET) segments.
On June 10, 2024, BKR announced a major multi-year contract with Petrobras to provide workover and plug and abandonment services in offshore Brazil, starting in 2025. The project will leverage BKR's integrated solutions and expand their facilities in Macaé.
In terms of forward non-GAAP PEG, BKR's 0.43x is 72.3% lower than the 1.54x industry average. Its 1.39x forward <a href="https://www.investopedia.com/terms/e/enterprisevaluesales.asp">EV/Sales</a> is 31% lower than the 2.02x industry average. Also, its 1.26x forward Price/Sales is 11.9% lower than the 1.42x industry average.
For the fiscal second quarter that ended June 30, 2024, BKR's revenue increased 13% year-over-year to $7.14 billion. The company's adjusted net income attributable to BKR and adjusted EPS grew 43.8% and 46.2% from the prior year's period to $568 million and $0.57, respectively. Furthermore, its adjusted EBITDA rose 24.6% from the year-ago value to $1.13 billion.
For the quarter ending September 30, 2024, BKR's EPS is expected to increase 45.7% year-over-year to $0.61. Its revenue for the same quarter is expected to increase 9.2% year-over-year to $7.25 billion. It surpassed the consensus EPS estimates in each of the trailing four quarters. Over the past six months, the stock has gained 18.7% to close the last trading session at $35.43.
BKR's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this positive outlook. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
Within the <a href="https://stocknews.com/category/energy-oil-gas/">Energy - Oil &amp; Gas</a> industry, it is ranked #20 out of 78 stocks. It has a B grade for Sentiment. To see the other ratings of BKR for Growth, Value, Momentum, Stability, and Quality, <a href="https://stocknews.com/stock/BKR/">click here</a>.
NOV Inc. (<a href="https://stocknews.com/stock/NOV/">NOV</a>)
NOV designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, as well as for industrial and renewable energy sectors internationally. It operates through two segments: Energy Equipment and Energy Products and Services.
In terms of forward EV/Sales, NOV's 0.97x is 51.9% lower than the 2.02x industry average. Its 0.79x forward Price/Sales is 44.6% lower than the 1.42x industry average. Likewise, its 1.08x forward Price/Book is 34.1% lower than the 1.63x industry average.
NOV's total revenues for the second quarter that ended June 30, 2024, came in at $2.22 billion, up 2.8% over the prior-year quarter. Its operating profit increased 93.2% year-over-year to $313 million. The company's net income attributable to the company rose 89.9% over the prior-year quarter to $226 million. In addition, net income per common stood at $0.57, up 90% year-over-year.
Street expects NOV's EPS for the quarter ending September 30, 2024, to increase 30.1% year-over-year to $0.35, and its revenue for the same quarter is expected to increase 2.2% year-over-year to $2.23 billion. NOV surpassed the Street revenue estimates in each of the trailing four quarters. Over the past six months, the stock has gained 6.5% to close the last trading session at $18.01.
NOV's POWR Ratings reflect its solid prospects. It is ranked #21 out of 51 stocks in the <a href="https://stocknews.com/category/energy-services/">Energy - Services</a> industry. It has a B grade for Value. <a href="https://stocknews.com/stock/NOV/">Click here</a> to see the other ratings of NOV for Growth, Momentum, Stability, Sentiment, and Quality.
MRC Global Inc. (<a href="https://stocknews.com/stock/MRC/">MRC</a>)
MRC and its subsidiaries distribute pipes, valves, fittings, and other infrastructure products and services internationally. They offer ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves among other products.
On June 13, 2024, MRC announced an agreement to be the primary provider of pipe, valves, and fittings for ExxonMobil's North America operations. This agreement covers maintenance, repair, operations, and project work across ExxonMobil's upstream and downstream facilities.
In terms of forward non-GAAP P/E, MRC's 14.96x is 23.8% lower than the 19.62x industry average. Its 0.55x forward EV/Sales is 70% lower than the 1.85x industry average. In addition, its 11.34x forward EV/EBIT is 30.9% lower than the 16.42x industry average.
During the first quarter that ended on March 31, 2024, MRC reported sales of $832 million, with an adjusted gross profit of $184 million. Similarly, its adjusted net income attributable to common stockholders was $27 million, or $0.31 per share.
Analysts expect MRC's revenue for the quarter ending December 31, 2024, to increase marginally year-over-year to $771.54 million. Its EPS for the quarter ending March 31, 2025, is expected to grow 22.5% year-over-year to $0.25. It surpassed the consensus EPS estimates in three of the trailing four quarters. Over the past year, the stock has gained 43.1% to close the last trading session at $13.09.
It's no surprise that MRC has an overall rating of B, which translates to a Buy in our proprietary POWR Ratings system.
It has an A grade for Value. Within the Energy - Services industry, it is ranked #2. To access MRC's additional grades for Growth, Momentum, Stability, Sentiment, and Quality, <a href="https://stocknews.com/stock/MRC/">click here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
BKR shares were trading at $35.41 per share on Tuesday afternoon, down $0.02 (-0.06%). Year-to-date, BKR has gained 5.69%, versus a 18.88% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/bkr-nov-mrc-3-oilfield-service-companies-to-benefit-from-increased-drilling/>3 Oilfield Service Companies to Benefit From Increased Drilling</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Oilfield Service Companies to Benefit From Increased Drilling

This week, several dividend stocks are trading close to their 52-week lows. Here is a list of nine such stocks that are also reaching their ex-divi...

Ex-Dividend Date Nearing for These 9 Stocks – Week of September 9, 2024

The latest announcement is out from NOV ( ($NOV) ). NOV Inc. has secured a $1.5 billion unsecured revolving credit facility with Wells Fargo and ot...

NOV Inc. Secures New Credit Facility and Terminates Old Agreement

Overweight quality stocks with positive EPS revision - MS

Overweight quality stocks with positive EPS revisions - MS

NOV cut to Sell equivalent, Baker Hughes raised to Buy at Wells Fargo

Analyst Arun Jayaram of J.P. Morgan reiterated a Buy rating on NOV (NOV – Research Report), with a price target of $22.00. Arun Jayaram has given h...

Buy Rating Reaffirmed for NOV on Strong Long-Term Fundamentals and Margin Improvement Prospects

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Press Releases

Arcosa Announces Agreement to Acquire Ameron Pole Products from NOV Inc.

NOV Announces First Quarter 2024 Earnings Conference Call

Arcosa, Inc. Announces Completion of Ameron Acquisition

NOV Reports First Quarter 2024 Results, Return of Capital Framework, $1 Billion Share Repurchase Authorization, and Plan to Increase Dividend 50%

NOV Announces 50 Percent Increase in Regular Quarterly Dividend

NOV Announces Second Quarter 2024 Earnings Conference Call

NOV Reports Second Quarter 2024 Results

NOV Declares Regular Quarterly Dividend

Cormetech Appoints Energy Transition Executive, Patricia Martinez, to President & CEO – Mike Mattes Elevated to Chairman of the Board

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