NOV Inc. (NYSE:NOV - Get Free Report) declared 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 annualized dividend and a yield of 1.85%.
NOV has increased its dividend payment by an average of 58.7% annually over the last three years. NOV has a dividend payout ratio of 19.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect NOV to earn $1.59 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 18.9%.
NOV Stock Performance
NOV traded down $0.03 on Thursday, hitting $16.21. 2,733,909 shares of the stock traded hands, compared to its average volume of 3,716,304. NOV has a 52 week low of $14.98 and a 52 week high of $21.23. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $6.31 billion, a PE ratio of 5.98, a P/E/G ratio of 0.96 and a beta of 1.66. The business has a fifty day moving average price of $16.02 and a two-hundred day moving average price of $17.54.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on NOV shares. Wells Fargo & Company decreased their price objective on NOV from $16.00 to $15.00 and set an "underweight" rating on the stock in a report on Monday, November 4th. TD Cowen decreased their price objective on NOV from $28.00 to $22.00 and set a "buy" rating on the stock in a report on Monday, October 28th. Citigroup downgraded NOV from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $21.00 to $18.00 in a report on Monday. Barclays decreased their price objective on NOV from $17.00 to $16.00 and set an "underweight" rating on the stock in a report on Tuesday, October 29th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $24.00 price objective on shares of NOV in a report on Monday, July 29th. Two equities research 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. According to MarketBeat, NOV presently has a consensus rating of "Hold" and a consensus target price of $21.64.
Check Out Our Latest Stock Analysis on NOV
About NOV
(
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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.
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