NOV Inc. Plans Quarterly Dividend of $0.08 (NYSE:NOV)

NOV Inc. (NYSE:NOV) announced a quarterly dividend on Thursday, November 14th,RTT News reports. Investors of record on Friday, December 6th will be paid a dividend of 0.075 per share by the oil and gas exploration company on Friday, December 20th. This represents a $0.30 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Friday, December 6th.

NOV has raised its dividend payment by an average of 58.7% per year over the last three years. NOV has a payout ratio of 19.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NOV to earn $1.58 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 19.0%.

NOV Price Performance

NYSE NOV opened at $16.18 on Wednesday. The stock has a market capitalization of $6.30 billion, a P/E ratio of 5.97, a P/E/G ratio of 0.94 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. The business’s fifty day moving average is $15.98 and its two-hundred day moving average is $17.28. NOV has a 1 year low of $14.98 and a 1 year high of $21.23.

Insider Buying and Selling at NOV

In other news, Director David D. Harrison sold 1,784 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total transaction of $28,722.40. Following the transaction, the director now owns 110,951 shares in the company, valued at approximately $1,786,311.10. This trade represents a 1.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

NOV has been the subject of several analyst reports. Citigroup downgraded NOV from a “buy” rating to a “neutral” rating and reduced their target price for the company from $21.00 to $18.00 in a report on Monday, November 11th. Susquehanna decreased their target price on shares of NOV from $22.00 to $21.00 and set a “positive” rating for the company in a report on Monday, October 28th. Wells Fargo & Company dropped their target price on shares of NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. TD Cowen reduced their price target on shares of NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Stifel Nicolaus lowered their price objective on shares of NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $21.64.

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.