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

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

Institutional Trading of NOV

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. increased its stake in NOV by 10.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company's stock valued at $8,489,000 after acquiring an additional 56,665 shares during the period. Greenhaven Associates Inc. increased its stake in NOV by 61.7% in the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company's stock valued at $48,049,000 after acquiring an additional 1,255,666 shares during the period. Barclays PLC increased its stake in NOV by 120.1% in the third quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company's stock valued at $7,561,000 after acquiring an additional 258,392 shares during the period. International Assets Investment Management LLC increased its stake in NOV by 1,590.1% in the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company's stock valued at $46,000 after acquiring an additional 2,735 shares during the period. Finally, Bank of Montreal Can increased its stake in NOV by 519.1% in the third quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company's stock valued at $7,000,000 after acquiring an additional 367,308 shares during the period. Institutional investors own 93.27% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms recently issued reports on NOV. Royal Bank of Canada lifted their price objective on shares of NOV from $21.00 to $22.00 and gave the company a "sector perform" rating in a research note on Thursday, February 6th. Seaport Res Ptn lowered shares of NOV from a "strong-buy" rating to a "hold" rating in a research note on Sunday, January 5th. Raymond James lifted their price objective on shares of NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Atb Cap Markets lowered shares of NOV from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Finally, Piper Sandler lifted their price objective on shares of NOV from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.60.

NOV Stock Performance

Shares of NYSE:NOV traded up $0.65 on Friday, hitting $15.00. 6,367,474 shares of the company were exchanged, compared to its average volume of 4,049,531. The company's 50 day moving average price is $15.01 and its two-hundred day moving average price is $15.65. NOV has a one year low of $13.77 and a one year high of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 1.02 and a beta of 1.66.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. Research analysts expect that NOV will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.075 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.00%. NOV's payout ratio is currently 18.63%.

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.