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

NOV Inc. (NYSE:NOV) announced a quarterly dividend on Friday, February 21st, RTT News reports. Shareholders 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 dividend yield of 1.99%. The ex-dividend date is Friday, March 14th.

NOV has raised its dividend by an average of 76.5% annually over the last three years. NOV has a payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NYSE:NOV opened at $15.10 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 stock’s 50-day simple moving average is $14.95 and its 200 day simple moving average is $15.87. The company has a market cap of $5.75 billion, a P/E ratio of 9.38, a P/E/G ratio of 1.02 and a beta of 1.64. NOV has a 52-week low of $13.94 and a 52-week high of $21.20.

NOV (NYSE:NOV) last released its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that NOV will post 1.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Raymond James boosted 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. Royal Bank of Canada boosted their price target on NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. ATB Capital reissued a “sector perform” rating and set a $19.00 price target on shares of NOV in a research report on Tuesday, December 10th. Atb Cap Markets cut NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Citigroup cut NOV from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $21.00 to $18.00 in a report on Monday, November 11th. Two research 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, the company has an average rating of “Hold” and an average 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.