NOV Inc. (NYSE:NOV) Plans $0.08 Quarterly Dividend

Key Points

• NOV Inc. has announced a quarterly dividend of $0.08 per share, which will be distributed to shareholders of record on September 12th, with a dividend yield of 2.4%.
• The company reported $0.29 EPS for the last quarter, missing analysts' expectations, with a revenue of $2.19 billion, slightly exceeding the forecast.
• Brokerage firms have adjusted their price targets for NOV shares, with Barclays setting a new target of $11.00 and a general average target of $16.69, reflecting mixed ratings among analysts.

NOV Inc. (NYSE:NOV - Get Free Report) announced a quarterly dividend on Thursday, August 14th, RTT News reports. Shareholders of record on Friday, September 12th will be given a dividend of 0.075 per share by the oil and gas exploration company on Friday, September 26th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%.

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 Price Performance

Shares of NYSE:NOV opened at $12.34 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 2.58. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 3.33 and a beta of 1.32. The business has a 50-day simple moving average of $13.02 and a two-hundred day simple moving average of $13.42. NOV has a fifty-two week low of $10.84 and a fifty-two week high of $18.40.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The oil and gas exploration company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). The firm had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.16 billion. NOV had a net margin of 5.36% and a return on equity of 7.25%. The firm's revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 EPS. On average, analysts expect that NOV will post 1.4 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on NOV. Barclays decreased their price objective on shares of NOV from $13.00 to $11.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Evercore ISI decreased their price target on NOV from $15.00 to $14.00 and set an "in-line" rating on the stock in a report on Wednesday, July 30th. Stifel Nicolaus dropped their price objective on NOV from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. Susquehanna set a $17.00 target price on NOV and gave the company a "positive" rating in a research note on Wednesday, July 30th. Finally, Piper Sandler dropped their price target on NOV from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $16.69.

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.

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