NOV Inc. (NYSE:NOV) to Issue $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 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Friday, March 14th.

NOV has raised its dividend payment by an average of 76.5% annually over the last three years. NOV has a payout ratio of 18.2% 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 NOV stock opened at $15.10 on Friday. The company has a 50-day moving average of $14.95 and a two-hundred day moving average of $15.88. The stock has a market cap of $5.75 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 1.02 and a beta of 1.64. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. NOV has a 12-month low of $13.94 and a 12-month high of $21.20.

NOV (NYSE:NOV) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. On average, research analysts anticipate that NOV will post 1.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Evercore ISI reissued an “in-line” rating and issued a $18.00 price target (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. TD Cowen reduced their price target on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 28th. Seaport Res Ptn cut shares of NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. Wells Fargo & Company lowered their price target on shares of NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Finally, Raymond James upped their price objective on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.