NOV Inc. (NYSE:NOV) Shares to Pay Quarterly Dividend of $0.09

NOV Inc. (NYSE:NOV) declared a quarterly dividend on Friday, November 13th. Investors of record on Friday, December 4th will be given a dividend of $0.09 per share by the oil and gas exploration company on Friday, December 18th. This represents a $0.36 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, December 4th.

NOV has increased its dividend by an average of 0.6% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. NOV has a payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Analysts expect NOV to earn $1.28 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 28.1%.

NOV Stock Up 1.4%

Shares of NOV stock traded up $0.26 during trading hours on Friday, reaching $18.05. The company had a trading volume of 2,554,002 shares, compared to its average volume of 4,229,122. The business has a fifty day simple moving average of $19.42 and a 200-day simple moving average of $19.64. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 45.14, a price-to-earnings-growth ratio of 2.97 and a beta of 0.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.66. NOV has a 12 month low of $14.30 and a 12 month high of $21.93.

NOV (NYSE:NOV) last posted its earnings results on Wednesday, October 28th. The oil and gas exploration company reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.20 billion. NOV had a return on equity of 4.23% and a net margin of 1.65%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 earnings per share. On average, research analysts expect that NOV will post 1.01 earnings per share for the current fiscal year.

About NOV

NOV Inc. designs, manufactures and supports equipment and technology used across the oil and gas industry. Its offerings include drilling systems and components, downhole tools, tubular-handling equipment, and products and services for well completion and production. The company also provides equipment and integrated systems for land and offshore drilling rigs, along with aftermarket parts, maintenance and other field services. NOV serves customers worldwide, including drilling contractors, oilfield service companies and energy producers.