NOV Inc. (NYSE:NOV) Declares Quarterly Dividend of $0.09

NOV Inc. (NYSE:NOV) declared a quarterly dividend on Friday, February 20th. Investors of record on Friday, March 13th will be given a dividend of 0.09 per share by the oil and gas exploration company on Friday, March 27th. This represents a c) dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, March 13th. This is a 20.0% increase from NOV’s previous quarterly dividend of $0.08.

NOV has increased its dividend payment by an average of 0.6%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. NOV has a dividend payout ratio of 22.2% 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 Stock Performance

NOV stock traded up $0.14 during midday trading on Friday, hitting $20.38. The company’s stock had a trading volume of 5,050,682 shares, compared to its average volume of 5,154,423. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.67. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 53.62 and a beta of 0.93. NOV has a 1-year low of $10.84 and a 1-year high of $20.47. The company has a 50-day moving average price of $17.65 and a two-hundred day moving average price of $15.17.

NOV (NYSE:NOV) last announced its earnings results on Thursday, February 5th. The oil and gas exploration company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.23). The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.17 billion. NOV had a return on equity of 3.57% and a net margin of 1.66%.The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 earnings per share. As a group, sell-side analysts predict that NOV will post 1.4 earnings per share for the current year.

About NOV

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.