NOV Sees Unusually Large Options Volume (NYSE:NOV)

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

NOV Stock Up 2.3 %

NOV stock opened at $18.67 on Friday. The stock has a 50-day simple moving average of $18.36 and a two-hundred day simple moving average of $18.62. The company has a quick ratio of 1.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.28. NOV has a twelve month low of $16.77 and a twelve month high of $21.91. The firm has a market capitalization of $7.38 billion, a PE ratio of 7.50, a PEG ratio of 0.58 and a beta of 1.70.

NOV (NYSE:NOV) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. NOV had a return on equity of 10.21% and a net margin of 11.23%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the business posted $0.32 earnings per share. The firm’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts predict that NOV will post 1.55 EPS for the current fiscal year.

NOV Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, June 14th. This is an increase from NOV’s previous quarterly dividend of $0.05. NOV’s dividend payout ratio (DPR) is 12.05%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NOV shares. Susquehanna reaffirmed a “positive” rating and set a $26.00 price objective on shares of NOV in a research report on Monday, April 8th. TD Cowen dropped their price objective on shares of NOV from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Bank of America reduced their target price on NOV from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Finally, Piper Sandler dropped their price target on NOV from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.07.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Rise Advisors LLC bought a new position in shares of NOV in the 1st quarter worth $26,000. Riverview Trust Co purchased a new position in NOV in the first quarter worth $39,000. GAMMA Investing LLC bought a new position in NOV in the fourth quarter valued at $61,000. International Assets Investment Management LLC raised its position in NOV by 1,306.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,488 shares of the oil and gas exploration company’s stock valued at $71,000 after purchasing an additional 3,240 shares in the last quarter. Finally, SYSTM Wealth Solutions LLC bought a new stake in NOV during the first quarter worth about $78,000. 93.27% of the stock is currently owned by institutional investors.

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.