NOV Inc. Declares Quarterly Dividend of $0.05 (NYSE:NOV)

NOV Inc. (NYSE:NOVGet Rating) announced a quarterly dividend on Wednesday, May 25th, RTT News reports. Shareholders of record on Friday, June 10th will be given 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 dividend yield of 1.04%.

NOV has decreased its dividend payment by an average of 37.0% annually over the last three years. NOV has a payout ratio of 24.1% indicating that 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 NOV stock traded up $0.18 during trading hours on Wednesday, reaching $19.30. 32,932 shares of the stock traded hands, compared to its average volume of 4,767,102. The company has a 50 day moving average price of $19.12 and a 200 day moving average price of $16.68. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of -39.83 and a beta of 1.90. NOV has a one year low of $11.46 and a one year high of $24.06. The company has a quick ratio of 1.77, a current ratio of 2.50 and a debt-to-equity ratio of 0.34.

NOV (NYSE:NOVGet Rating) last released its quarterly earnings results on Thursday, April 28th. The oil and gas exploration company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.07). NOV had a negative net margin of 3.18% and a negative return on equity of 2.54%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.53 billion. Sell-side analysts anticipate that NOV will post 0.32 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. LPL Financial LLC raised its holdings in shares of NOV by 6.9% during the 4th quarter. LPL Financial LLC now owns 29,594 shares of the oil and gas exploration company’s stock worth $401,000 after acquiring an additional 1,904 shares in the last quarter. Stifel Financial Corp bought a new position in shares of NOV during the 4th quarter valued at approximately $372,000. Wetherby Asset Management Inc. increased its position in shares of NOV by 19.6% during the 1st quarter. Wetherby Asset Management Inc. now owns 17,742 shares of the oil and gas exploration company’s stock valued at $348,000 after purchasing an additional 2,907 shares during the last quarter. PFS Investments Inc. bought a new position in shares of NOV during the 1st quarter valued at approximately $346,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of NOV by 8.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 13,935 shares of the oil and gas exploration company’s stock valued at $273,000 after purchasing an additional 1,079 shares during the last quarter. 93.94% of the stock is currently owned by institutional investors and hedge funds.

NOV has been the topic of a number of analyst reports. Griffin Securities raised NOV from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Monday, May 2nd. Morgan Stanley lifted their price objective on NOV from $17.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, April 11th. Susquehanna Bancshares lowered their price objective on NOV from $23.00 to $22.00 in a research report on Monday, February 7th. Susquehanna lowered their price objective on NOV from $23.00 to $22.00 in a research report on Monday, February 7th. Finally, COKER & PALMER cut NOV from a “sector perform” rating to a “sector underperform” rating in a report on Monday, February 7th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.33.

About NOV (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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Dividend History for NOV (NYSE:NOV)

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