National-Oilwell Varco, Inc. (NOV) Declares $0.05 Quarterly Dividend
National-Oilwell Varco, Inc. (NYSE:NOV) declared a quarterly dividend on Thursday, May 18th. Investors of record on Friday, June 16th will be paid a dividend of 0.05 per share by the oil and gas exploration company on Friday, June 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.60%.
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 payout ratio of -54.1% 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 $0.77 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 26.0%.
Shares of National-Oilwell Varco (NYSE:NOV) traded up 1.2184% on Thursday, hitting $33.7867. The company had a trading volume of 905,411 shares. National-Oilwell Varco has a 52 week low of $29.79 and a 52 week high of $43.63. The company’s market capitalization is $12.84 billion. The stock’s 50-day moving average is $36.25 and its 200 day moving average is $37.47.
National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings results on Wednesday, April 26th. The oil and gas exploration company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.03. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.67 billion. National-Oilwell Varco had a negative return on equity of 2.08% and a negative net margin of 33.26%. National-Oilwell Varco’s quarterly revenue was down 20.5% on a year-over-year basis. During the same period last year, the business earned ($0.06) earnings per share. Equities analysts expect that National-Oilwell Varco will post ($0.40) EPS for the current year.
Several analysts have commented on NOV shares. Vetr lowered National-Oilwell Varco from a “buy” rating to a “hold” rating and set a $41.60 price objective on the stock. in a report on Tuesday, February 14th. Instinet reissued a “neutral” rating and issued a $35.00 price objective on shares of National-Oilwell Varco in a report on Tuesday, February 7th. Credit Suisse Group AG raised National-Oilwell Varco from an “underperform” rating to a “neutral” rating and set a $40.00 price objective on the stock in a report on Wednesday, February 8th. Simmons raised their price objective on National-Oilwell Varco from $25.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, February 8th. Finally, Piper Jaffray Companies set a $36.00 price target on National-Oilwell Varco and gave the stock a “hold” rating in a research note on Wednesday, February 8th. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. National-Oilwell Varco presently has an average rating of “Hold” and an average target price of $38.74.
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In related news, insider Joseph W. Rovig sold 49,825 shares of the business’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $41.48, for a total value of $2,066,741.00. Following the sale, the insider now owns 91 shares in the company, valued at approximately $3,774.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Scott K. Duff sold 4,785 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $40.79, for a total value of $195,180.15. Following the completion of the sale, the vice president now owns 25,121 shares in the company, valued at approximately $1,024,685.59. The disclosure for this sale can be found here. Insiders sold a total of 91,979 shares of company stock worth $3,751,823 in the last quarter. Company insiders own 0.17% of the company’s stock.
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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