NOV Inc. (NYSE:NOV) Announces $0.08 Quarterly Dividend

NOV Inc. (NYSE:NOV) announced a quarterly dividend on Friday, February 21st, RTT News reports. Investors of record on Friday, March 14th will be given a dividend of 0.075 per share by the oil and gas exploration company on Friday, March 28th. This represents a $0.30 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Friday, March 14th.

NOV has increased its dividend by an average of 76.5% per year over the last three years. NOV has a payout ratio of 18.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect NOV to earn $1.65 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 18.2%.

NOV Trading Down 2.2 %

Shares of NYSE NOV opened at $15.10 on Friday. The stock has a market cap of $5.75 billion, a P/E ratio of 9.38, a price-to-earnings-growth ratio of 1.02 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. NOV has a 52-week low of $13.94 and a 52-week high of $21.20. The firm has a 50 day moving average price of $14.95 and a two-hundred day moving average price of $15.88.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. As a group, equities analysts forecast that NOV will post 1.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NOV. Citigroup downgraded shares of NOV from a “buy” rating to a “neutral” rating and lowered their target price for the company from $21.00 to $18.00 in a research note on Monday, November 11th. Atb Cap Markets downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Raymond James upped their price target on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Royal Bank of Canada increased their price objective on shares of NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Finally, Stifel Nicolaus cut their price target on NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.60.

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.