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

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

Insider Transactions at NOV

In other news, CAO Christy Lynn Novak sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total transaction of $61,005.00. Following the sale, the chief accounting officer now owns 114,212 shares of the company’s stock, valued at approximately $1,990,715.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On NOV

A number of institutional investors have recently modified their holdings of the stock. CWM LLC raised its stake in shares of NOV by 10.8% in the 4th quarter. CWM LLC now owns 5,480 shares of the oil and gas exploration company’s stock valued at $111,000 after purchasing an additional 536 shares in the last quarter. CENTRAL TRUST Co raised its stake in NOV by 85.4% during the third quarter. CENTRAL TRUST Co now owns 1,259 shares of the oil and gas exploration company’s stock worth $26,000 after acquiring an additional 580 shares during the period. Nisa Investment Advisors LLC raised its stake in NOV by 1.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 50,280 shares of the oil and gas exploration company’s stock worth $1,020,000 after acquiring an additional 580 shares during the period. Commonwealth Equity Services LLC raised its stake in NOV by 3.3% during the third quarter. Commonwealth Equity Services LLC now owns 18,956 shares of the oil and gas exploration company’s stock worth $306,000 after acquiring an additional 598 shares during the period. Finally, Covestor Ltd raised its stake in NOV by 94.4% during the first quarter. Covestor Ltd now owns 1,287 shares of the oil and gas exploration company’s stock worth $25,000 after acquiring an additional 625 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Susquehanna reissued a “positive” rating and set a $26.00 price target on shares of NOV in a research note on Monday, April 8th. TD Cowen cut their price objective on NOV from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. Piper Sandler cut their price objective on NOV from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, February 20th. Benchmark downgraded NOV from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Finally, Raymond James cut their price objective on NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $24.36.

NOV Stock Down 2.1 %

Shares of NOV stock opened at $18.47 on Thursday. The company has a fifty day moving average price of $18.39 and a 200 day moving average price of $19.20. The company has a current ratio of 2.40, a quick ratio of 1.51 and a debt-to-equity ratio of 0.27. NOV has a twelve month low of $14.05 and a twelve month high of $21.91. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 7.36, a price-to-earnings-growth ratio of 0.36 and a beta of 1.74.

NOV (NYSE:NOV) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $1.10. NOV had a net margin of 11.57% and a return on equity of 10.79%. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the prior year, the company earned $0.26 EPS. The firm’s revenue was up 13.0% on a year-over-year basis. Equities research analysts forecast that NOV will post 1.54 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.08%. NOV’s dividend payout ratio (DPR) is presently 7.97%.

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.