National-Oilwell Varco, Inc. (NYSE:NOV) declared a quarterly dividend on Wednesday, May 29th, RTT News reports. Investors of record on Friday, June 14th will be paid a dividend of 0.05 per share by the oil and gas exploration company on Friday, June 28th. This represents a $0.20 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, June 13th.

National-Oilwell Varco has decreased its dividend by an average of 52.3% per year over the last three years. National-Oilwell Varco has a dividend payout ratio of 133.3% 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 $0.55 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 36.4%.

Shares of NYSE NOV traded down $0.38 during midday trading on Wednesday, reaching $20.92. The stock had a trading volume of 755,773 shares, compared to its average volume of 4,035,621. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.30 and a quick ratio of 1.81. The stock has a market cap of $8.04 billion, a PE ratio of -261.50 and a beta of 1.30. National-Oilwell Varco has a 12-month low of $20.14 and a 12-month high of $49.08.

National-Oilwell Varco (NYSE:NOV) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas exploration company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). National-Oilwell Varco had a negative net margin of 0.47% and a negative return on equity of 0.29%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the previous year, the business earned ($0.18) EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts expect that National-Oilwell Varco will post -0.18 EPS for the current year.

Several equities analysts recently issued reports on NOV shares. TheStreet cut shares of National-Oilwell Varco from a “c-” rating to a “d+” rating in a research note on Friday, May 31st. Barclays dropped their price objective on shares of National-Oilwell Varco from $32.00 to $28.00 and set an “equal weight” rating for the company in a report on Monday, April 15th. Citigroup set a $31.00 target price on shares of National-Oilwell Varco and gave the company a “hold” rating in a research report on Thursday, June 6th. SunTrust Banks cut their target price on shares of National-Oilwell Varco to $24.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Finally, Cowen set a $23.00 price target on shares of National-Oilwell Varco and gave the company a “hold” rating in a research note on Friday, April 12th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the stock. National-Oilwell Varco presently has an average rating of “Hold” and an average target price of $38.08.

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National-Oilwell Varco Company Profile

National Oilwell Varco, Inc designs, manufactures, and sells systems, components, and products for oil and gas drilling and production worldwide. It operates in three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. The Wellbore Technologies segment offers various equipment and technologies used to perform drilling operations.

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

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