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

NOV Inc. (NYSE:NOV) announced a quarterly dividend on Thursday, November 14th,RTT News reports. Stockholders of record on Friday, December 6th will be given a dividend of 0.075 per share by the oil and gas exploration company on Friday, December 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.85%.

NOV has raised its dividend by an average of 58.7% annually over the last three years. NOV has a dividend payout ratio of 19.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Down 0.2 %

Shares of NOV traded down $0.04 on Thursday, hitting $16.20. The company’s stock had a trading volume of 410,375 shares, compared to its average volume of 3,706,612. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 5.99, a P/E/G ratio of 0.96 and a beta of 1.66. The firm’s fifty day moving average price is $16.03 and its 200-day moving average price is $17.55. NOV has a fifty-two week low of $14.98 and a fifty-two week high of $21.23.

Wall Street Analysts Forecast Growth

NOV has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on shares of NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company decreased their price objective on NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 target price on shares of NOV in a research note on Monday, July 29th. Susquehanna decreased their price target on shares of NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research note on Monday, October 28th. Finally, Evercore ISI upgraded shares of NOV to a “strong-buy” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $21.64.

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.