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

NOV Inc. (NYSE:NOV - Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock investors bought 2,616 put options on the stock. This is an increase of approximately 1,353% compared to the typical volume of 180 put options.

NOV Trading Down 0.3 %

NYSE NOV traded down $0.04 during mid-day trading on Monday, reaching $11.94. 7,146,184 shares of the stock were exchanged, compared to its average volume of 3,798,043. The stock has a market cap of $4.55 billion, a P/E ratio of 7.41, a P/E/G ratio of 1.02 and a beta of 1.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. NOV has a one year low of $10.87 and a one year high of $21.20. The stock has a 50 day simple moving average of $14.85 and a 200-day simple moving average of $15.29.

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 for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. On average, analysts anticipate that NOV will post 1.4 EPS for the current year.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Friday, March 14th. NOV's dividend payout ratio (DPR) is 18.63%.

Remove Ads

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Atb Cap Markets downgraded shares of NOV from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Raymond James boosted their target price on shares of NOV from $18.00 to $19.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Barclays upped their price target on shares of NOV from $12.00 to $13.00 and gave the stock an "underweight" rating in a report on Tuesday, February 18th. Royal Bank of Canada raised NOV from a "sector perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a report on Monday, March 24th. Finally, Piper Sandler upped their target price on NOV from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $19.60.

Institutional Trading of NOV

Several hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. increased its stake in NOV by 12,344.0% in the fourth quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company's stock valued at $179,718,000 after purchasing an additional 12,210,514 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of NOV by 23.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company's stock valued at $593,336,000 after buying an additional 6,963,660 shares during the period. First Pacific Advisors LP bought a new stake in NOV in the 4th quarter valued at about $39,495,000. Weiss Asset Management LP acquired a new position in NOV during the 3rd quarter worth approximately $35,709,000. Finally, Dimensional Fund Advisors LP boosted its holdings in NOV by 13.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company's stock worth $245,178,000 after acquiring an additional 1,934,243 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

NOV Company Profile

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.