NOV Inc. (NOV) To Go Ex-Dividend on March 13th

NOV Inc. (NYSE:NOV) announced a quarterly dividend on Friday, February 20th. Stockholders of record on Friday, March 13th will be given a dividend of 0.09 per share by the oil and gas exploration company on Friday, March 27th. This represents a c) annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, March 13th. This is a 20.0% increase from NOV’s previous quarterly dividend of $0.08.

NOV has increased its dividend 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 22.2% indicating that its dividend is sufficiently covered by earnings. Equities research 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

NYSE:NOV opened at $20.38 on Friday. The company has a quick ratio of 1.67, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. NOV has a 52 week low of $10.84 and a 52 week high of $20.47. The stock’s 50-day moving average price is $17.65 and its 200-day moving average price is $15.19. The stock has a market capitalization of $7.34 billion, a PE ratio of 53.62 and a beta of 0.93.

NOV (NYSE:NOV) last issued its quarterly earnings results on Thursday, February 5th. The oil and gas exploration company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.23). NOV had a return on equity of 3.57% and a net margin of 1.66%.The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the prior year, the company posted $0.41 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, equities analysts expect that NOV will post 1.4 EPS for the current fiscal year.

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.