NOV Inc. (NYSE:NOV) Raises Dividend to $0.09 Per Share

NOV Inc. (NYSE:NOV) declared a quarterly dividend on Friday, February 20th. Stockholders of record on Friday, March 13th will be paid a dividend of 0.09 per share by the oil and gas exploration company on Friday, March 27th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, March 13th. This is a 20.0% increase from NOV’s previous quarterly dividend of $0.08.

NOV has increased its dividend by an average of 0.6%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. NOV has a payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. 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 Performance

Shares of NOV stock traded up $0.14 during trading on Friday, hitting $20.38. 5,050,682 shares of the company’s stock traded hands, compared to its average volume of 5,092,946. NOV has a 1 year low of $10.84 and a 1 year high of $20.47. The business has a 50-day simple moving average of $17.57 and a 200-day simple moving average of $15.11. The stock has a market capitalization of $7.34 billion, a P/E ratio of 53.62 and a beta of 0.93. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.67.

NOV (NYSE:NOV) last issued its earnings results on Thursday, February 5th. The oil and gas exploration company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.23). The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.17 billion. NOV had a return on equity of 3.57% and a net margin of 1.66%.NOV’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. As a group, analysts forecast that NOV will post 1.4 EPS for the current year.

About NOV

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.