NOV Sees Unusually High Options Volume (NYSE:NOV)

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

Insiders Place Their Bets

In other NOV news, CAO Christy Lynn Novak sold 3,500 shares of NOV stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total transaction of $61,005.00. Following the completion of the transaction, the chief accounting officer now directly owns 114,212 shares of the company’s stock, valued at $1,990,715.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.59% of the company’s stock.

Hedge Funds Weigh In On NOV

A number of institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd acquired a new position in shares of NOV during the fourth quarter worth approximately $580,000. Hennessy Advisors Inc. purchased a new stake in NOV in the 4th quarter valued at $395,000. Goldman Sachs Group Inc. raised its position in NOV by 95.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 879,960 shares of the oil and gas exploration company’s stock valued at $17,846,000 after buying an additional 429,104 shares during the last quarter. FIL Ltd raised its position in NOV by 23.9% in the 4th quarter. FIL Ltd now owns 1,236,947 shares of the oil and gas exploration company’s stock valued at $25,085,000 after buying an additional 238,396 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in NOV by 2.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 164,286 shares of the oil and gas exploration company’s stock valued at $3,332,000 after buying an additional 4,488 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NOV has been the subject of a number of analyst reports. StockNews.com raised NOV from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. ATB Capital set a $33.00 price target on NOV and gave the company an “outperform” rating in a research note on Friday, December 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price target on shares of NOV in a research note on Tuesday, February 6th. JPMorgan Chase & Co. raised NOV from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $22.00 to $25.00 in a research note on Friday, December 8th. Finally, TD Cowen dropped their price target on NOV from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.23.

Check Out Our Latest Stock Report on NOV

NOV Price Performance

Shares of NOV opened at $20.10 on Thursday. NOV has a 52-week low of $14.05 and a 52-week high of $21.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.51 and a current ratio of 2.40. The business’s 50 day moving average price is $18.27 and its two-hundred day moving average price is $19.27. The firm has a market cap of $7.92 billion, a PE ratio of 8.01, a price-to-earnings-growth ratio of 0.37 and a beta of 1.74.

NOV (NYSE:NOVGet Free Report) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $1.10. NOV had a return on equity of 10.79% and a net margin of 11.57%. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the firm earned $0.26 earnings per share. The company’s revenue was up 13.0% compared to the same quarter last year. On average, equities analysts anticipate that NOV will post 1.54 EPS for the current year.

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Wednesday, March 13th. NOV’s payout ratio is 7.97%.

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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