National Oilwell Varco, Inc. (NYSE:NOV) declared a quarterly dividend on Thursday, August 17th, RTT News reports. Stockholders of record on Friday, September 15th will be paid a dividend of 0.05 per share by the oil and gas exploration company on Friday, September 29th. This represents a $0.20 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Thursday, September 14th.
National Oilwell Varco has decreased its dividend payment by an average of 12.5% annually over the last three years. National Oilwell Varco has a dividend payout ratio of -48.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect National Oilwell Varco to earn $0.36 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 55.6%.
National Oilwell Varco (NOV) opened at 30.09 on Friday. The stock’s 50 day moving average is $32.53 and its 200 day moving average is $35.51. National Oilwell Varco has a 12 month low of $29.90 and a 12 month high of $43.63. The company’s market cap is $11.44 billion.
National Oilwell Varco (NYSE:NOV) last announced its earnings results on Thursday, July 27th. The oil and gas exploration company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.78 billion. National Oilwell Varco had a negative net margin of 33.24% and a negative return on equity of 2.12%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.30) EPS. Equities analysts predict that National Oilwell Varco will post ($0.40) earnings per share for the current year.
Several research analysts have recently issued reports on NOV shares. Credit Suisse Group set a $35.00 price objective on shares of National Oilwell Varco and gave the stock a “hold” rating in a report on Saturday, July 29th. Scotiabank set a $37.00 price objective on shares of National Oilwell Varco and gave the stock a “hold” rating in a report on Friday, July 28th. Morgan Stanley restated an “overweight” rating and set a $50.00 price objective (down previously from $60.00) on shares of National Oilwell Varco in a report on Wednesday, June 21st. Wells Fargo & Company restated a “market perform” rating on shares of National Oilwell Varco in a report on Monday, July 10th. Finally, BidaskClub downgraded shares of National Oilwell Varco from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $38.63.
National Oilwell Varco Company Profile
National Oilwell Varco, Inc is an oilfield equipment manufacturer and technology provider. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies and Completion & Production Solutions. The Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore.
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