NOV Sees Unusually High Options Volume (NYSE:NOV)

NOV Inc. (NYSE:NOV) saw unusually large options trading on Wednesday. Traders acquired 2,616 put options on the stock. This represents an increase of approximately 1,353% compared to the average daily volume of 180 put options.

Insider Transactions at NOV

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 shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the sale, the director now owns 110,951 shares of the company’s stock, valued at $1,786,311.10. The trade was a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NOV

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rothschild Investment LLC bought a new stake in shares of NOV in the 2nd quarter worth approximately $28,000. Quarry LP purchased a new stake in NOV in the third quarter worth $36,000. American National Bank & Trust bought a new stake in NOV in the third quarter valued at $39,000. International Assets Investment Management LLC increased its position in NOV by 1,590.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock valued at $46,000 after purchasing an additional 2,735 shares during the period. Finally, Brooklyn Investment Group bought a new position in NOV in the 3rd quarter worth $48,000. 93.27% of the stock is currently owned by institutional investors.

NOV Price Performance

Shares of NOV stock opened at $14.43 on Friday. The firm has a market capitalization of $5.61 billion, a PE ratio of 5.32, a price-to-earnings-growth ratio of 0.87 and a beta of 1.66. The business’s 50-day moving average price is $15.54 and its 200-day moving average price is $16.90. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. NOV has a 12 month low of $13.94 and a 12 month high of $21.23.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 2.08%. NOV’s dividend payout ratio is currently 11.07%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NOV shares. Bank of America lowered their target price on shares of NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Piper Sandler started coverage on NOV in a research note on Thursday, December 19th. They set a “neutral” rating and a $17.00 price objective on the stock. Atb Cap Markets downgraded NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Susquehanna decreased their price target on NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. lowered their price target on shares of NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.14.

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.