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

NOV Inc. (NYSE:NOVGet Free Report) saw some unusual options trading activity on Tuesday. Stock traders purchased 6,977 call options on the company. This represents an increase of 609% compared to the typical daily volume of 984 call options.

NOV Price Performance

Shares of NYSE NOV opened at $20.02 on Wednesday. NOV has a fifty-two week low of $14.05 and a fifty-two week high of $21.91. The firm’s 50-day simple moving average is $18.29 and its 200 day simple moving average is $19.27. The company has a quick ratio of 1.51, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. The stock has a market cap of $7.89 billion, a P/E ratio of 7.98, a P/E/G ratio of 0.37 and a beta of 1.74.

NOV (NYSE:NOVGet Free Report) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share for the quarter, beating 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 business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the business earned $0.26 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. Equities analysts expect that NOV will post 1.54 EPS for the current year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Wednesday, March 13th. NOV’s dividend payout ratio (DPR) is presently 7.97%.

Insider Buying and Selling at NOV

In other news, CAO Christy Lynn Novak sold 3,500 shares of the company’s stock in a transaction dated 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 owns 114,212 shares of the company’s stock, valued at approximately $1,990,715.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.77% of the stock is owned by insiders.

Institutional Investors Weigh In On NOV

Several hedge funds and other institutional investors have recently bought and sold shares of NOV. Vanguard Group Inc. raised its holdings in NOV by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 38,925,240 shares of the oil and gas exploration company’s stock worth $629,810,000 after buying an additional 349,025 shares during the period. BlackRock Inc. raised its holdings in NOV by 0.8% during the 1st quarter. BlackRock Inc. now owns 37,748,140 shares of the oil and gas exploration company’s stock worth $698,718,000 after buying an additional 284,784 shares during the period. FMR LLC raised its holdings in NOV by 30.9% during the 3rd quarter. FMR LLC now owns 18,514,921 shares of the oil and gas exploration company’s stock worth $386,962,000 after buying an additional 4,369,540 shares during the period. State Street Corp raised its holdings in NOV by 3.8% during the 2nd quarter. State Street Corp now owns 14,141,887 shares of the oil and gas exploration company’s stock worth $226,836,000 after buying an additional 513,846 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in NOV by 48.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,822,009 shares of the oil and gas exploration company’s stock worth $246,962,000 after buying an additional 3,843,096 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NOV. TD Cowen dropped their target price on shares of NOV from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price objective on shares of NOV in a report on Tuesday, February 6th. Raymond James decreased their price objective on shares of NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, February 5th. StockNews.com raised shares of NOV from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Benchmark downgraded shares of NOV from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.36.

View Our Latest Research 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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