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

NOV Inc. (NYSE:NOV) was the recipient of some unusual options trading activity on Wednesday. Stock traders acquired 2,616 put options on the stock. This represents an increase of approximately 1,353% compared to the typical volume of 180 put options.

NOV Trading Down 0.8%

Shares of NOV stock opened at $15.61 on Thursday. NOV has a 1 year low of $10.84 and a 1 year high of $16.96. The firm has a market capitalization of $5.69 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 5.22 and a beta of 0.97. The stock has a fifty day moving average of $15.14 and a two-hundred day moving average of $13.77. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 2.55.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). NOV had a net margin of 4.36% and a return on equity of 5.89%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 EPS. As a group, research analysts expect that NOV will post 1.4 EPS for the current year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, December 5th. NOV’s dividend payout ratio is currently 30.00%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of NOV from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, December 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a research report on Monday. Barclays raised their price target on NOV from $13.00 to $15.00 and gave the stock an “underweight” rating in a report on Wednesday, December 17th. Citigroup upped their price objective on NOV from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Finally, Zacks Research upgraded NOV from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, NOV currently has an average rating of “Hold” and an average target price of $15.83.

Insider Buying and Selling at NOV

In other NOV news, Director Christian S. Kendall purchased 70,000 shares of NOV stock in a transaction dated Friday, November 21st. The shares were bought at an average cost of $14.46 per share, for a total transaction of $1,012,200.00. Following the transaction, the director owned 85,949 shares in the company, valued at $1,242,822.54. This represents a 438.90% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.08% of the company’s stock.

Institutional Investors Weigh In On NOV

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CoreFirst Bank & Trust acquired a new stake in NOV in the second quarter worth approximately $35,000. UMB Bank n.a. lifted its holdings in shares of NOV by 114.1% in the third quarter. UMB Bank n.a. now owns 3,109 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 1,657 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of NOV by 395.3% in the second quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company’s stock valued at $45,000 after buying an additional 2,921 shares during the period. Signaturefd LLC grew its holdings in NOV by 33.2% during the second quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 931 shares during the period. Finally, Quarry LP grew its holdings in NOV by 119.7% during the first quarter. Quarry LP now owns 3,407 shares of the oil and gas exploration company’s stock worth $52,000 after acquiring an additional 1,856 shares during the period. Institutional investors own 93.27% of the company’s stock.

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.