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

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

Insider Transactions at NOV

In other NOV news, Director Christian S. Kendall bought 70,000 shares of NOV stock in a transaction dated Friday, November 21st. The stock was bought at an average cost of $14.46 per share, for a total transaction of $1,012,200.00. Following the purchase, the director owned 85,949 shares of the company’s stock, valued at $1,242,822.54. The trade was a 438.90% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NOV

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in NOV by 9.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 7,384 shares of the oil and gas exploration company’s stock valued at $115,000 after buying an additional 611 shares during the period. Arizona State Retirement System increased its stake in NOV by 0.6% in 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 acquiring an additional 678 shares during the last quarter. Allworth Financial LP raised its position in 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 purchasing an additional 709 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in NOV by 0.6% during 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 purchasing an additional 724 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of NOV by 2.6% in 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 purchasing an additional 743 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NOV has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price objective on shares of NOV from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Morgan Stanley set a $16.00 target price on shares of NOV in a research note on Monday, December 15th. Piper Sandler lifted their target price on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. The Goldman Sachs Group reissued a “sell” rating and issued a $17.00 price target on shares of NOV in a report on Wednesday, January 14th. Finally, Raymond James Financial restated an “outperform” rating and set a $17.00 price objective on shares of NOV in a report on Tuesday, October 28th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.36.

NOV Stock Up 4.9%

Shares of NOV opened at $20.01 on Thursday. The company has a current ratio of 2.42, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. NOV has a 12 month low of $10.84 and a 12 month high of $20.11. The firm’s 50 day moving average is $17.50 and its 200-day moving average is $15.08. The stock has a market capitalization of $7.21 billion, a PE ratio of 52.65 and a beta of 0.93.

NOV (NYSE:NOV) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas exploration company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.23). The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.17 billion. NOV had a return on equity of 3.57% and a net margin of 1.66%.NOV’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business earned $0.41 EPS. Equities research analysts forecast that NOV will post 1.4 EPS for the current year.

NOV Company Profile

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.