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

NOV Inc. (NYSE:NOVGet Free Report) was the target of some unusual options trading activity on Wednesday. Traders acquired 2,616 put options on the stock. This is an increase of approximately 1,353% compared to the typical volume of 180 put options.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NOV shares. TD Cowen cut their target price on NOV from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Susquehanna reissued a “positive” rating and set a $26.00 price objective on shares of NOV in a research report on Monday, April 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.07.

View Our Latest Stock Analysis on NOV

Institutional Trading of NOV

Hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in shares of NOV in the 1st quarter valued at approximately $26,000. Riverview Trust Co acquired a new stake in NOV in the first quarter valued at $39,000. Bruce G. Allen Investments LLC purchased a new stake in NOV during the 4th quarter worth about $49,000. GAMMA Investing LLC purchased a new stake in NOV during the 4th quarter worth about $61,000. Finally, International Assets Investment Management LLC boosted its position in shares of NOV by 1,306.5% during the 4th quarter. International Assets Investment Management LLC now owns 3,488 shares of the oil and gas exploration company’s stock worth $71,000 after acquiring an additional 3,240 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Price Performance

NOV stock opened at $17.79 on Thursday. The company has a quick ratio of 1.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.28. NOV has a 52-week low of $16.77 and a 52-week high of $21.91. The firm has a market cap of $7.04 billion, a PE ratio of 7.14, a price-to-earnings-growth ratio of 0.56 and a beta of 1.70. The company’s 50 day moving average is $18.35 and its two-hundred day moving average is $18.72.

NOV (NYSE:NOVGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. NOV had a return on equity of 10.21% and a net margin of 11.23%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period last year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, research analysts expect that NOV will post 1.56 EPS for the current fiscal year.

NOV Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.075 per share. The ex-dividend date was Friday, June 14th. This is an increase from NOV’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.69%. NOV’s payout ratio is currently 12.05%.

About NOV

(Get Free Report)

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.

Further Reading

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