NOV Inc. (NYSE:NOV) Plans Special Dividend of $0.09

NOV Inc. (NYSE:NOV) declared a special dividend on Wednesday, May 20th. Shareholders of record on Friday, June 12th will be given a dividend of 0.09 per share by the oil and gas exploration company on Friday, June 26th. This represents a yield of 180.0%. The ex-dividend date of this dividend is Friday, June 12th.

NOV has raised its dividend payment by an average of 0.6%per year over the last three years and has increased its dividend every year for the last 1 years. NOV has a dividend payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect NOV to earn $1.32 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 27.3%.

NOV Price Performance

NOV stock opened at $20.84 on Wednesday. NOV has a 1 year low of $11.77 and a 1 year high of $21.55. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.47 and a quick ratio of 1.66. The firm has a market capitalization of $7.48 billion, a PE ratio of 86.84 and a beta of 0.89. The business has a 50 day simple moving average of $20.01 and a 200-day simple moving average of $18.53.

NOV (NYSE:NOV) last released its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). NOV had a return on equity of 3.34% and a net margin of 1.05%.The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the firm posted $0.19 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. Equities research analysts anticipate that NOV will post 0.91 earnings per share for the current fiscal year.

Institutional Trading of NOV

Institutional investors have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA raised its position in NOV by 19.7% in the first quarter. Glenmede Trust Co. NA now owns 12,704 shares of the oil and gas exploration company’s stock valued at $239,000 after purchasing an additional 2,094 shares during the period. Bank of America Corp DE grew its stake in shares of NOV by 17.0% in the first quarter. Bank of America Corp DE now owns 4,575,450 shares of the oil and gas exploration company’s stock valued at $86,064,000 after buying an additional 664,969 shares in the last quarter. Altshuler Shaham Ltd raised its holdings in shares of NOV by 36.8% in the 1st quarter. Altshuler Shaham Ltd now owns 2,030 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 546 shares during the period. Amundi raised its holdings in shares of NOV by 233.2% in the 1st quarter. Amundi now owns 51,575 shares of the oil and gas exploration company’s stock valued at $970,000 after buying an additional 36,096 shares during the period. Finally, California State Teachers Retirement System lifted its stake in NOV by 20.4% during the 1st quarter. California State Teachers Retirement System now owns 422,834 shares of the oil and gas exploration company’s stock worth $7,954,000 after acquiring an additional 71,754 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.