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 company. This is an increase of 1,353% compared to the typical volume of 180 put options.
Analysts Set New Price Targets
A number of brokerages have issued reports on NOV. Atb Cap Markets downgraded NOV from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Susquehanna lowered their price target on shares of NOV from $22.00 to $21.00 and set a "positive" rating on the stock in a research report on Monday, October 28th. Barclays dropped their price target on shares of NOV from $17.00 to $16.00 and set an "underweight" rating on the stock in a research note on Tuesday, October 29th. TD Cowen reduced their price objective on shares of NOV from $28.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, October 28th. Finally, Bank of America dropped their target price on NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $20.64.
Get Our Latest Stock Report on NOV
NOV Price Performance
Shares of NOV stock traded down $0.29 during trading on Thursday, hitting $15.10. The company had a trading volume of 3,177,641 shares, compared to its average volume of 3,705,550. NOV has a 52 week low of $14.94 and a 52 week high of $21.23. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 5.68, a price-to-earnings-growth ratio of 0.87 and a beta of 1.66. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. The stock's 50-day moving average is $15.90 and its two-hundred day moving average is $17.15.
NOV Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a yield of 1.99%. NOV's payout ratio is 11.07%.
Insiders Place Their Bets
In other NOV news, Director David D. Harrison sold 1,784 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the sale, the director now owns 110,951 shares in the company, valued at approximately $1,786,311.10. This trade represents a 1.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.85% of the company's stock.
Hedge Funds Weigh In On NOV
Hedge funds and other institutional investors have recently modified their holdings of the company. Rothschild Investment LLC purchased a new stake in shares of NOV in the 2nd quarter valued at $28,000. Quarry LP purchased a new stake in NOV during the third quarter valued at about $36,000. American National Bank & Trust bought a new position in shares of NOV during the third quarter valued at about $39,000. International Assets Investment Management LLC increased its holdings in shares of 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 worth $46,000 after buying an additional 2,735 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of NOV in the third quarter worth about $48,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.
NOV Company Profile
(
Get Free Report)
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.
See Also
Before you consider NOV, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NOV wasn't on the list.
While NOV currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
