NOV Inc. (NYSE:NOV) Declares Quarterly Dividend of $0.08

NOV Inc. (NYSE:NOV) announced a quarterly dividend on Thursday, November 14th,RTT News reports. Investors of record on Friday, December 6th will be paid a dividend of 0.075 per share by the oil and gas exploration company on Friday, December 20th. This represents a $0.30 dividend on an annualized basis and a yield of 1.85%.

NOV has increased its dividend by an average of 58.7% per year over the last three years. NOV has a payout ratio of 19.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect NOV to earn $1.59 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 18.9%.

NOV Trading Down 0.2 %

Shares of NOV stock opened at $16.21 on Friday. The firm has a market capitalization of $6.31 billion, a P/E ratio of 5.98, a P/E/G ratio of 0.94 and a beta of 1.66. NOV has a twelve month low of $14.98 and a twelve month high of $21.23. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. The stock’s fifty day simple moving average is $16.02 and its 200 day simple moving average is $17.54.

Wall Street Analyst Weigh In

NOV has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their price objective on NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Bank of America cut their target price on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, October 14th. BMO Capital Markets cut their target price on NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a report on Thursday, October 10th. Benchmark reaffirmed a “hold” rating on shares of NOV in a report on Friday, July 26th. Finally, Barclays cut their target price on NOV from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $21.64.

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.