NOV Inc. (NYSE:NOV – Get Rating) announced a quarterly dividend on Wednesday, May 25th, RTT News reports. Shareholders of record on Friday, June 10th will be paid a dividend of 0.05 per share by the oil and gas exploration company on Friday, June 24th. This represents a $0.20 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Thursday, June 9th.
NOV has decreased its dividend payment by an average of 37.0% per year over the last three years. NOV has a dividend payout ratio of 23.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect NOV to earn $0.84 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 23.8%.
Shares of NYSE:NOV opened at $19.78 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.50 and a quick ratio of 1.77. The company has a market capitalization of $7.77 billion, a PE ratio of -41.21 and a beta of 1.90. The business has a fifty day moving average price of $19.12 and a two-hundred day moving average price of $16.74. NOV has a 1 year low of $11.46 and a 1 year high of $24.06.
Several research firms recently issued reports on NOV. Susquehanna Bancshares lowered their price objective on NOV from $23.00 to $22.00 in a research report on Monday, February 7th. Susquehanna decreased their target price on NOV from $23.00 to $22.00 in a research report on Monday, February 7th. Stifel Nicolaus increased their target price on shares of NOV from $20.00 to $23.00 in a research note on Friday, April 8th. Citigroup downgraded NOV from a “buy” rating to a “neutral” rating and cut their price objective for the company from $22.00 to $21.00 in a research report on Monday, March 14th. Finally, TheStreet raised NOV from a “d” rating to a “c-” rating in a research note on Friday, February 4th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.33.
In related news, Director Eric L. Mattson sold 9,819 shares of NOV stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $19.15, for a total transaction of $188,033.85. Following the completion of the transaction, the director now directly owns 67,281 shares in the company, valued at approximately $1,288,431.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.59% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd grew its holdings in NOV by 94.4% during the 1st quarter. Covestor Ltd now owns 1,287 shares of the oil and gas exploration company’s stock worth $25,000 after acquiring an additional 625 shares in the last quarter. Toroso Investments LLC bought a new position in NOV in the fourth quarter worth about $179,000. Canada Pension Plan Investment Board boosted its stake in NOV by 25.8% in the first quarter. Canada Pension Plan Investment Board now owns 10,316 shares of the oil and gas exploration company’s stock valued at $202,000 after acquiring an additional 2,113 shares during the period. Vident Investment Advisory LLC bought a new position in shares of NOV during the first quarter valued at approximately $216,000. Finally, Mackenzie Financial Corp acquired a new position in NOV during the 4th quarter valued at approximately $233,000. 93.94% of the stock is currently owned by institutional investors and hedge funds.
NOV Company Profile (Get Rating)
NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors worldwide. The company operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.
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