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

NOV Inc. (NYSE:NOV) announced 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 1.85%.

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. 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 Stock Performance

NOV opened at $16.21 on Friday. NOV has a 12-month low of $14.98 and a 12-month high of $21.23. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 5.98, a PEG ratio of 0.94 and a beta of 1.66. The business has a 50 day moving average of $16.02 and a 200-day moving average of $17.54. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NOV shares. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 price target on shares of NOV in a report on Monday, July 29th. Barclays dropped their price target on NOV from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. Susquehanna dropped their price target on NOV from $22.00 to $21.00 and set a “positive” rating for the company in a report on Monday, October 28th. Morgan Stanley dropped their price target on NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, Bank of America dropped their price target on NOV from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.