NOV Inc. (NOV) To Go Ex-Dividend on June 12th

NOV Inc. (NYSE:NOV – Get Free Report) announced a special dividend on Thursday, May 21st. Investors of record on Friday, June 12th will be paid a dividend of 0.09 per share by the oil and gas exploration company on Friday, June 26th. This represents a yield of 173.0%. The ex-dividend date of this dividend is Friday, June 12th.

NOV has raised its dividend payment by an average of 0.6%annually 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 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 Price Performance

NYSE:NOV opened at $20.84 on Wednesday. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 86.84 and a beta of 0.89. The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average is $20.01 and its two-hundred day moving average is $18.53. NOV has a 12-month low of $11.77 and a 12-month high of $21.55.

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

NOV Company Profile

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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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