NOV Inc. (NYSE:NOV) to Issue $0.08 Quarterly Dividend

NOV Inc. (NYSE:NOV) declared 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 yield of 1.97%.

NOV has raised its dividend by an average of 76.5% per year over the last three years. NOV has a payout ratio of 18.1% meaning 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 Stock Down 1.2 %

NYSE:NOV opened at $15.25 on Friday. NOV has a 52 week low of $13.94 and a 52 week high of $21.20. The stock’s fifty day moving average is $14.95 and its two-hundred day moving average is $15.90. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 1.01 and a beta of 1.64.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping 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%. Research analysts anticipate that NOV will post 1.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NOV shares. Raymond James upped their price objective on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Atb Cap Markets lowered NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. TD Cowen dropped 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. Seaport Res Ptn lowered NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $18.00 price objective (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Two equities research 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.