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

NOV Inc. (NYSE:NOV – Get Free Report) declared a quarterly dividend on Tuesday, August 18th. Stockholders of record on Friday, September 11th will be paid a dividend of 0.09 per share by the oil and gas exploration company on Friday, September 25th. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 11th.

NOV has increased its dividend payment by an average of 0.6%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. NOV has a payout ratio of 26.7% indicating that its dividend is sufficiently covered by earnings. Equities research 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%.

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NOV Stock Performance

NYSE:NOV opened at $20.70 on Thursday. NOV has a fifty-two week low of $12.09 and a fifty-two week high of $21.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.61 and a current ratio of 2.42. The company has a 50 day moving average price of $19.56 and a 200 day moving average price of $19.64. The stock has a market capitalization of $7.38 billion, a P/E ratio of 79.60 and a beta of 0.92.

NOV (NYSE:NOV – Get Free Report) last announced its earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.14. NOV had a return on equity of 3.44% and a net margin of 1.10%.The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the company earned $0.29 earnings per share. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities research analysts forecast that NOV will post 0.97 EPS for the current year.

About NOV

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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.

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