NOV Inc. (NOV) To Go Ex-Dividend on September 11th

NOV Inc. (NYSE:NOV) declared a quarterly dividend on Tuesday, August 18th. Investors 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) dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 11th.

NOV has raised 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 dividend payout ratio of 26.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect NOV to earn $1.31 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 27.5%.

NOV Stock Down 0.2%

NOV stock opened at $21.35 on Wednesday. NOV has a 1-year low of $12.28 and a 1-year high of $21.86. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.61. The stock has a market cap of $7.61 billion, a PE ratio of 82.13 and a beta of 0.94. The stock’s fifty day moving average is $20.02 and its two-hundred day moving average is $19.83.

NOV (NYSE:NOV) last announced its quarterly earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the business earned $0.29 EPS. NOV’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, sell-side analysts expect that NOV will post 0.99 EPS for the current fiscal year.

Insider Activity at NOV

In other news, Director David Harrison sold 9,594 shares of NOV stock in a transaction on Friday, July 31st. The shares were sold at an average price of $19.21, for a total value of $184,300.74. Following the transaction, the director directly owned 126,763 shares of the company’s stock, valued at $2,435,117.23. The trade was a 7.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of NOV in the second quarter valued at about $697,976,000. Pzena Investment Management LLC acquired a new position in NOV in the 2nd quarter valued at about $674,776,000. California State Teachers Retirement System raised its stake in NOV by 1,725.0% during the 2nd quarter. California State Teachers Retirement System now owns 7,716,652 shares of the oil and gas exploration company’s stock valued at $143,144,000 after acquiring an additional 7,293,818 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in NOV by 1,743.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,059,400 shares of the oil and gas exploration company’s stock worth $79,080,000 after acquiring an additional 4,785,015 shares during the period. Finally, Bank of America Corp DE acquired a new stake in NOV during the 2nd quarter worth approximately $77,520,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Company Profile

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.