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National-Oilwell Varco, Inc. Announces Quarterly Dividend of $0.46 (NOV)

National-Oilwell Varco (NYSE:NOV) announced a quarterly dividend on Thursday, November 13th, AmericanBankingNews.com reports. Investors of record on Friday, December 5th will be paid a dividend of 0.46 per share on Friday, December 19th. This represents a $1.84 annualized dividend and a dividend yield of 2.52%.

NOV has been the subject of a number of recent research reports. Analysts at FBR Capital Markets cut their price target on shares of National-Oilwell Varco from $100.00 to $88.00 in a research note on Tuesday, November 4th. They now have an “outperform” rating on the stock. On the ratings front, analysts at Cowen and Company downgraded shares of National-Oilwell Varco from an “outperform” rating to a “market perform” rating in a research note on Monday, November 3rd. They now have a $73.00 price target on the stock, down previously from $81.00. Finally, analysts at Credit Suisse downgraded shares of National-Oilwell Varco from an “outperform” rating to a “neutral” rating in a research note on Monday, November 3rd. They now have a $77.00 price target on the stock, down previously from $95.00. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $88.52.

Shares of National-Oilwell Varco (NYSE:NOV) opened at 73.00 on Thursday. National-Oilwell Varco has a 52-week low of $65.5275 and a 52-week high of $86.55. The stock has a 50-day moving average of $72.86 and a 200-day moving average of $77.97. The company has a market cap of $31.432 billion and a P/E ratio of 12.24.

National-Oilwell Varco (NYSE:NOV) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.76 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.53 by $0.23. The company had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter last year, the company posted $1.34 earnings per share. National-Oilwell Varco’s revenue was up 17.3% compared to the same quarter last year. On average, analysts predict that National-Oilwell Varco will post $6.08 earnings per share for the current fiscal year.

National Oilwell Varco, Inc is a provider of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry.

- Jess Potts
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