NOV Inc. (NOV) to Issue Quarterly Dividend of $0.08 on March 28th

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

NOV has increased 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. 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 Trading Down 2.2 %

NOV stock opened at $15.10 on Friday. The business has a fifty day moving average price of $14.95 and a 200 day moving average price of $15.87. NOV has a fifty-two week low of $13.94 and a fifty-two week high of $21.20. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 9.38, a P/E/G ratio of 1.02 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64.

NOV (NYSE:NOV) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share 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%. Analysts expect that NOV will post 1.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NOV shares. ATB Capital reaffirmed a “sector perform” rating and set a $19.00 price target on shares of NOV in a report on Tuesday, December 10th. Evercore ISI reiterated an “in-line” rating and issued a $18.00 price objective (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Seaport Res Ptn lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Raymond James increased their price objective on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Piper Sandler raised their price target on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.