NOV Inc. (NYSE:NOV) Plans $0.09 Quarterly Dividend

NOV Inc. (NYSE:NOV) announced a quarterly dividend on Wednesday, August 19th. Investors of record on Friday, September 11th will be paid a dividend of 0.09 per share by the oil and gas exploration company on Tuesday, September 29th. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, September 11th.

NOV has increased its dividend by an average of 0.6%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. NOV has a payout ratio of 26.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect NOV to earn $1.33 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 27.1%.

NOV Price Performance

NOV stock traded down $0.29 during trading on Wednesday, hitting $20.70. The company had a trading volume of 3,033,818 shares, compared to its average volume of 4,480,921. The company has a fifty day moving average price of $19.57 and a two-hundred day moving average price of $19.62. NOV has a fifty-two week low of $12.09 and a fifty-two week high of $21.67. The company has a market cap of $7.38 billion, a P/E ratio of 79.60 and a beta of 0.92. The company has a current ratio of 2.42, a quick ratio of 1.61 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last released its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.14. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.08 billion. NOV had a return on equity of 3.44% and a net margin of 1.10%.The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 earnings per share. Equities research analysts expect that NOV will post 0.94 earnings per share for the current fiscal year.

NOV Company Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.