NOV Inc. (NOV) to Issue Quarterly Dividend of $0.08 on December 20th

NOV Inc. (NYSE:NOV) declared a quarterly dividend on Thursday, November 14th,RTT News reports. Stockholders of record on Friday, December 6th will be given 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 dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, December 6th.

NOV has raised its dividend by an average of 58.7% annually over the last three years. NOV has a payout ratio of 19.1% meaning its dividend is sufficiently covered by earnings. Equities research 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 1.5 %

NYSE NOV opened at $15.96 on Friday. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $16.02 and a 200 day simple moving average of $17.52. NOV has a 12 month low of $14.98 and a 12 month high of $21.23. The firm has a market capitalization of $6.21 billion, a P/E ratio of 5.89, a PEG ratio of 0.94 and a beta of 1.66.

Analysts Set New Price Targets

NOV has been the topic of a number of recent analyst reports. Citigroup lowered shares of NOV from a “buy” rating to a “neutral” rating and dropped their price target for the company from $21.00 to $18.00 in a research report on Monday, November 11th. Stifel Nicolaus cut their target price on NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Morgan Stanley reduced their target price on NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Bank of America dropped their price target on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Benchmark reaffirmed a “hold” rating on shares of NOV in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, NOV has a consensus rating of “Hold” and an average target price of $21.64.

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.