Stock Traders Buy Large Volume of NOV Put Options (NYSE:NOV)

NOV Inc. (NYSE:NOV) saw some unusual options trading on Wednesday. Stock traders bought 2,616 put options on the stock. This is an increase of 1,353% compared to the average daily volume of 180 put options.

Insider Activity

In other news, Director David D. Harrison sold 1,784 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 110,951 shares in the company, valued at $1,786,311.10. This trade represents a 1.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On NOV

Several institutional investors have recently made changes to their positions in NOV. Truist Financial Corp lifted its stake in NOV by 3.4% during the second quarter. Truist Financial Corp now owns 29,729 shares of the oil and gas exploration company’s stock worth $565,000 after purchasing an additional 991 shares during the last quarter. HM Payson & Co. lifted its stake in shares of NOV by 2.1% in the 3rd quarter. HM Payson & Co. now owns 49,000 shares of the oil and gas exploration company’s stock valued at $783,000 after acquiring an additional 1,000 shares during the last quarter. KBC Group NV increased its holdings in NOV by 11.8% in the third quarter. KBC Group NV now owns 11,060 shares of the oil and gas exploration company’s stock valued at $177,000 after purchasing an additional 1,163 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in NOV by 2.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 51,567 shares of the oil and gas exploration company’s stock valued at $980,000 after purchasing an additional 1,164 shares during the period. Finally, Verum Partners LLC increased its holdings in NOV by 9.0% in the fourth quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company’s stock valued at $220,000 after purchasing an additional 1,248 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NOV. Seaport Res Ptn lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. ATB Capital restated a “sector perform” rating and issued a $19.00 price target on shares of NOV in a report on Tuesday, December 10th. Barclays cut their price target on NOV from $16.00 to $12.00 and set an “underweight” rating on the stock in a report on Wednesday, December 18th. Citigroup downgraded NOV from a “buy” rating to a “neutral” rating and lowered their target price for the company from $21.00 to $18.00 in a research report on Monday, November 11th. Finally, Wells Fargo & Company lowered their target price on NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.00.

NOV Trading Down 0.2 %

Shares of NOV stock opened at $14.90 on Friday. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. The stock has a market cap of $5.80 billion, a P/E ratio of 5.50, a price-to-earnings-growth ratio of 0.98 and a beta of 1.66. The stock has a 50 day simple moving average of $15.19 and a 200 day simple moving average of $16.42. NOV has a 1 year low of $13.94 and a 1 year high of $21.23.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Friday, December 6th. NOV’s dividend payout ratio (DPR) is currently 11.07%.

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.