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

NOV Inc. (NYSE:NOV) announced a quarterly dividend on Friday, February 21st, RTT News reports. Stockholders of record on Friday, March 14th will be paid 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 dividend yield of 1.97%.

NOV has raised its dividend payment by an average of 76.5% annually over the last three years. NOV has a payout ratio of 18.1% meaning 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 1.2 %

Shares of NYSE NOV opened at $15.25 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The business’s 50 day moving average price is $14.95 and its 200-day moving average price is $15.90. NOV has a fifty-two week low of $13.94 and a fifty-two week high of $21.20. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 1.01 and a beta of 1.64.

NOV (NYSE:NOV) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. On average, sell-side analysts expect that NOV will post 1.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

NOV has been the topic of a number of analyst reports. Seaport Res Ptn downgraded NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. Stifel Nicolaus lowered their price objective on NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 28th. ATB Capital reaffirmed a “sector perform” rating and set a $19.00 price target on shares of NOV in a research report on Tuesday, December 10th. Raymond James lifted their price target on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company lowered their price target on NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.60.

NOV Company Profile

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.