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

NOV Inc. (NYSE:NOV - Get Free Report) announced a quarterly dividend on Friday, February 21st, RTT News reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, March 14th.

NOV has raised its dividend by an average of 76.5% per year 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 0.1 %

Shares of NOV traded down $0.02 during mid-day trading on Tuesday, reaching $14.98. The stock had a trading volume of 3,997,917 shares, compared to its average volume of 3,927,848. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The business's fifty day moving average is $14.95 and its 200 day moving average is $15.84. NOV has a 52-week low of $13.94 and a 52-week high of $21.20. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 9.30, a P/E/G ratio of 1.02 and a beta of 1.64.

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

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Analyst Ratings Changes

Several equities analysts have recently commented on NOV shares. Barclays upped their price objective on shares of NOV from $12.00 to $13.00 and gave the stock an "underweight" rating in a report on Tuesday, February 18th. Seaport Res Ptn cut NOV from a "strong-buy" rating to a "hold" rating in a research note on Sunday, January 5th. Wells Fargo & Company dropped their price objective on NOV from $16.00 to $15.00 and set an "underweight" rating for the company in a research note on Monday, November 4th. Raymond James raised their target price on NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Susquehanna cut their price target on shares of NOV from $22.00 to $21.00 and set a "positive" rating on the stock in a research note on Monday, October 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, NOV has a consensus 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.