NOV Inc. (NYSE:NOV) Plans $0.21 Dividend

NOV Inc. (NYSE:NOV - Get Free Report) declared a dividend on Saturday, May 31st, investing.com reports. Shareholders of record on Tuesday, June 3rd will be paid a dividend of 0.21 per share by the oil and gas exploration company on Friday, June 13th. This represents a yield of 3.63%. The ex-dividend date of this dividend is Monday, June 2nd.

NOV has raised its dividend payment by an average of 76.5% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. NOV has a payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 1.1%

Shares of NYSE:NOV traded down $0.14 during trading on Wednesday, reaching $12.28. 1,261,808 shares of the stock were exchanged, compared to its average volume of 3,970,241. NOV has a 1-year low of $10.84 and a 1-year high of $21.20. The stock has a fifty day moving average of $12.48 and a two-hundred day moving average of $14.17. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 7.63, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27.

NOV (NYSE:NOV - Get Free Report) last posted its earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.11 billion. NOV had a return on equity of 9.88% and a net margin of 7.16%. The company's revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. Research analysts anticipate that NOV will post 1.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NOV has been the subject of several research reports. Morgan Stanley cut their price target on NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Wells Fargo & Company increased their price objective on NOV from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Raymond James lifted their target price on NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Royal Bank of Canada lowered their price target on shares of NOV from $20.00 to $19.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group reduced their price objective on shares of NOV from $16.00 to $13.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $17.50.

Institutional Trading of NOV

Several large investors have recently modified their holdings of NOV. Focus Partners Wealth bought a new stake in shares of NOV during the 1st quarter valued at about $214,000. Royal Bank of Canada increased its holdings in NOV by 15.6% during the first quarter. Royal Bank of Canada now owns 49,721 shares of the oil and gas exploration company's stock valued at $756,000 after buying an additional 6,711 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of NOV by 35.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,927 shares of the oil and gas exploration company's stock worth $2,465,000 after acquiring an additional 42,462 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of NOV by 17.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,062,292 shares of the oil and gas exploration company's stock worth $16,168,000 after purchasing an additional 157,385 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

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.