National-Oilwell Varco, Inc. (NYSE:NOV) declared a quarterly dividend on Friday, February 23rd, RTT News reports. Shareholders of record on Friday, March 16th will be paid a dividend of 0.05 per share by the oil and gas exploration company on Friday, March 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Thursday, March 15th.

National-Oilwell Varco has decreased its dividend payment by an average of 50.4% annually over the last three years. National-Oilwell Varco has a payout ratio of -48.8% meaning 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 $1.11 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 18.0%.

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National-Oilwell Varco (NYSE NOV) opened at $37.31 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.07 and a quick ratio of 1.79. The firm has a market capitalization of $14,293.40, a price-to-earnings ratio of -59.22, a P/E/G ratio of 24.04 and a beta of 0.88. National-Oilwell Varco has a 52-week low of $29.90 and a 52-week high of $40.90.

National-Oilwell Varco (NYSE:NOV) last issued its earnings results on Monday, February 5th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The business had revenue of $1.97 billion for the quarter. National-Oilwell Varco had a negative return on equity of 1.10% and a negative net margin of 3.24%. During the same period last year, the business posted ($0.15) earnings per share. analysts predict that National-Oilwell Varco will post 0.26 earnings per share for the current fiscal year.

In other news, VP Scott K. Duff sold 7,421 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $35.66, for a total transaction of $264,632.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.58% of the company’s stock.

NOV has been the topic of several research reports. Royal Bank of Canada reaffirmed a “hold” rating and issued a $40.00 target price on shares of National-Oilwell Varco in a research report on Friday, January 19th. ValuEngine lowered National-Oilwell Varco from a “hold” rating to a “sell” rating in a research report on Wednesday, November 15th. TheStreet raised National-Oilwell Varco from a “d+” rating to a “c” rating in a research report on Tuesday, February 6th. Cowen set a $33.00 target price on National-Oilwell Varco and gave the stock a “hold” rating in a research report on Thursday, January 11th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $34.00 target price on shares of National-Oilwell Varco in a research report on Thursday, December 21st. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. National-Oilwell Varco currently has a consensus rating of “Hold” and an average price target of $37.55.

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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.

Dividend History for National-Oilwell Varco (NYSE:NOV)

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