NOV Inc. (NYSE:NOV - Get Free Report) saw unusually large options trading on Wednesday. Stock investors acquired 2,616 put options on the stock. This is an increase of 1,353% compared to the typical daily volume of 180 put options.
NOV Stock Performance
Shares of NOV traded down $0.03 on Thursday, reaching $14.90. The company's stock had a trading volume of 3,195,185 shares, compared to its average volume of 3,104,800. The stock's 50 day simple moving average is $15.21 and its two-hundred day simple moving average is $16.43. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. The stock has a market capitalization of $5.80 billion, a P/E ratio of 5.50, a PEG ratio of 0.98 and a beta of 1.66. NOV has a 12-month low of $13.94 and a 12-month high of $21.23.
NOV Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, December 6th. NOV's payout ratio is 11.07%.
Insider Buying and Selling
In other news, Director David D. Harrison sold 1,784 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the sale, the director now directly owns 110,951 shares of the company's stock, valued at $1,786,311.10. The trade was a 1.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.85% of the stock is owned by insiders.
Institutional Investors Weigh In On NOV
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Deprince Race & Zollo Inc. grew its holdings in NOV by 1,194.1% during the second quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company's stock valued at $32,431,000 after purchasing an additional 1,574,188 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of NOV by 10.8% during the 4th 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. Barclays PLC increased its holdings in NOV by 120.1% in the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company's stock worth $7,561,000 after acquiring an additional 258,392 shares in the last quarter. Greenhaven Associates Inc. lifted its holdings in NOV by 61.7% during 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 purchasing an additional 1,255,666 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position 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 purchasing an additional 2,735 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on NOV. Atb Cap Markets downgraded NOV from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Citigroup lowered shares of NOV from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $21.00 to $18.00 in a research note on Monday, November 11th. Piper Sandler began coverage on shares of NOV in a report on Thursday, December 19th. They set a "neutral" rating and a $17.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of NOV from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Thursday, October 3rd. Finally, Wells Fargo & Company cut their target price on NOV from $16.00 to $15.00 and set an "underweight" rating on the stock in a research note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, NOV has an average rating of "Hold" and a consensus price target of $20.00.
Check Out Our Latest Report on NOV
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.
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