Traders Purchase Large Volume of Put Options on NOV (NYSE:NOV)

NOV Inc. (NYSE:NOV) saw some unusual options trading on Wednesday. Traders purchased 2,616 put options on the company. This represents an increase of 1,353% compared to the average volume of 180 put options.

Institutional Investors Weigh In On NOV

Several hedge funds and other institutional investors have recently bought and sold shares of NOV. Banque Cantonale Vaudoise bought a new stake in NOV in the first quarter worth about $25,000. CoreFirst Bank & Trust bought a new stake in shares of NOV in the 2nd quarter worth approximately $35,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of NOV in the 1st quarter worth approximately $36,000. Hantz Financial Services Inc. raised its holdings in shares of NOV by 395.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company’s stock worth $45,000 after purchasing an additional 2,921 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of NOV by 33.2% in the second quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 931 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NOV has been the topic of several recent research reports. Raymond James Financial reiterated an “outperform” rating and issued a $17.00 price objective on shares of NOV in a research report on Tuesday. Susquehanna set a $17.00 price target on NOV and gave the company a “positive” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. cut NOV from an “overweight” rating to a “neutral” rating and cut their price target for the company from $17.00 to $15.00 in a report on Wednesday, July 30th. Piper Sandler cut their price target on NOV from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, August 14th. Finally, Citigroup lifted their target price on NOV from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.38.

NOV Price Performance

Shares of NYSE:NOV opened at $15.10 on Friday. NOV has a 12 month low of $10.84 and a 12 month high of $16.86. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 4.73 and a beta of 1.26. The stock’s 50 day moving average price is $13.28 and its 200 day moving average price is $12.89. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.55 and a quick ratio of 1.72.

NOV (NYSE:NOV) last announced its earnings results on Monday, October 27th. The oil and gas exploration company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). NOV had a return on equity of 5.89% and a net margin of 4.36%.The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the firm earned $0.33 EPS. NOV’s revenue for the quarter was down .7% on a year-over-year basis. NOV has set its Q4 2025 guidance at EPS. Equities research analysts anticipate that NOV will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a $0.075 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.30 annualized dividend and a yield of 2.0%. NOV’s payout ratio is 24.59%.

About NOV

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.