NOV Sees Unusually Large Options Volume (NYSE:NOV)

NOV Inc. (NYSE:NOV) was the recipient of unusually large options trading on Wednesday. Investors purchased 2,616 put options on the stock. This represents an increase of 1,353% compared to the typical volume of 180 put options.

Institutional Investors Weigh In On NOV

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its position in shares of NOV by 9.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 7,384 shares of the oil and gas exploration company’s stock worth $115,000 after purchasing an additional 611 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of NOV by 0.6% during the third quarter. Arizona State Retirement System now owns 111,185 shares of the oil and gas exploration company’s stock valued at $1,473,000 after buying an additional 678 shares during the last quarter. Allworth Financial LP increased its position in shares of NOV by 37.9% during the fourth quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock valued at $40,000 after acquiring an additional 709 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in NOV by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 116,720 shares of the oil and gas exploration company’s stock worth $1,547,000 after buying an additional 724 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of NOV by 2.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 29,023 shares of the oil and gas exploration company’s stock valued at $385,000 after buying an additional 743 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Stock Up 1.2%

Shares of NYSE:NOV opened at $20.23 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $17.57 and a two-hundred day simple moving average of $15.11. NOV has a 12-month low of $10.84 and a 12-month high of $20.35. The stock has a market capitalization of $7.29 billion, a price-to-earnings ratio of 53.25 and a beta of 0.93.

NOV (NYSE:NOV) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas exploration company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.23). NOV had a return on equity of 3.57% and a net margin of 1.66%.The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the prior year, the firm earned $0.41 EPS. NOV’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, research analysts anticipate that NOV will post 1.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NOV has been the subject of several research reports. The Goldman Sachs Group restated a “sell” rating and set a $17.00 price objective on shares of NOV in a research note on Wednesday, January 14th. Stifel Nicolaus raised their target price on shares of NOV from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Argus raised shares of NOV to a “hold” rating in a report on Tuesday, February 10th. Susquehanna reaffirmed a “positive” rating and set a $21.00 price target on shares of NOV in a research report on Friday, February 6th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $21.00 price objective on shares of NOV in a report on Thursday, January 15th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, NOV presently has a consensus rating of “Hold” and a consensus price target of $18.36.

About NOV

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.