NOV Inc. (NOV) to Issue Quarterly Dividend of $0.08 on September 26th

NOV Inc. (NYSE:NOV) announced a quarterly dividend on Thursday, August 14th, RTT News reports. Stockholders of record on Friday, September 12th will be given a dividend of 0.075 per share by the oil and gas exploration company on Friday, September 26th. This represents a c) annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, September 12th.

NOV has a dividend payout ratio of 22.2% indicating that 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 Trading Down 1.1%

NYSE NOV opened at $12.19 on Friday. The company has a market cap of $4.53 billion, a PE ratio of 9.99, a PEG ratio of 3.42 and a beta of 1.32. The company has a current ratio of 2.58, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26. NOV has a 12 month low of $10.84 and a 12 month high of $18.40. The stock has a 50 day moving average of $13.01 and a 200-day moving average of $13.39.

NOV (NYSE:NOV) last announced its quarterly earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). NOV had a net margin of 5.36% and a return on equity of 7.25%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business earned $0.57 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities research analysts anticipate that NOV will post 1.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NOV has been the subject of several research reports. Stifel Nicolaus cut their price target on NOV from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, July 30th. Barclays lowered their price objective on NOV from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 30th. Susquehanna set a $17.00 price objective on NOV and gave the stock a “positive” rating in a research report on Wednesday, July 30th. Royal Bank Of Canada lowered their price objective on NOV from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 30th. Finally, Evercore ISI lowered their price objective on NOV from $15.00 to $14.00 and set an “in-line” rating on the stock in a research report on Wednesday, July 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.56.

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.