NOV Inc. (NOV) To Go Ex-Dividend on March 14th

NOV Inc. (NYSE:NOV) declared a quarterly dividend on Friday, February 21st, RTT News reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.075 per share by the oil and gas exploration company on Friday, March 28th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, March 14th.

NOV has increased its dividend payment by an average of 76.5% per year over the last three years. NOV has a dividend payout ratio of 18.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NOV to earn $1.65 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 18.2%.

NOV Trading Down 3.7 %

Shares of NOV stock opened at $14.25 on Wednesday. NOV has a 12 month low of $13.78 and a 12 month high of $21.20. The company has a market cap of $5.42 billion, a PE ratio of 8.85, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $15.01 and its two-hundred day moving average is $15.60.

NOV (NYSE:NOV) last posted its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. Equities analysts predict that NOV will post 1.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NOV shares. Raymond James lifted their price objective on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. ATB Capital reaffirmed a “sector perform” rating and issued a $19.00 price target on shares of NOV in a research report on Tuesday, December 10th. Barclays increased their price objective on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. Evercore ISI reaffirmed an “in-line” rating and set a $18.00 target price (down previously from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Finally, Piper Sandler upped their target price on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.60.

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.