NOV Target of Unusually High Options Trading (NYSE:NOV)

NOV Inc. (NYSE:NOV) was the recipient of unusually large options trading activity on Wednesday. Traders bought 2,616 put options on the stock. This is an increase of 1,353% compared to the average volume of 180 put options.

NOV Stock Up 0.4 %

NYSE:NOV opened at $14.32 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The firm’s 50-day moving average price is $15.00 and its 200-day moving average price is $15.70. The company has a market capitalization of $5.45 billion, a PE ratio of 8.90, a P/E/G ratio of 1.02 and a beta of 1.66. NOV has a 1-year low of $13.77 and a 1-year high of $21.20.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. On average, equities analysts predict that NOV will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.09%. NOV’s payout ratio is presently 18.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NOV shares. Atb Cap Markets cut shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Seaport Res Ptn lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Piper Sandler lifted their price objective on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Raymond James increased their target price on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Citigroup cut NOV from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $21.00 to $18.00 in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, NOV currently has an average rating of “Hold” and a consensus price target of $19.60.

Hedge Funds Weigh In On NOV

Several large investors have recently modified their holdings of NOV. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in NOV during the 4th quarter valued at about $4,960,000. Jefferies Financial Group Inc. purchased a new stake in shares of NOV during the fourth quarter valued at approximately $762,000. Mackenzie Financial Corp bought a new stake in shares of NOV during the fourth quarter valued at approximately $162,000. Neo Ivy Capital Management purchased a new position in NOV in the 4th quarter worth approximately $3,695,000. Finally, CSS LLC IL bought a new position in NOV in the 4th quarter valued at approximately $400,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Company Profile

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.