NOV Inc. (NYSE:NOV - Get Free Report) saw some unusual options trading activity on Wednesday. Investors purchased 2,616 put options on the stock. This is an increase of 1,353% compared to the typical volume of 180 put options.
Hedge Funds Weigh In On NOV
Institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in NOV in the 1st quarter worth $36,000. Exchange Traded Concepts LLC raised its stake in shares of NOV by 382.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 18,201 shares of the oil and gas exploration company's stock valued at $277,000 after purchasing an additional 14,432 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of NOV by 172.9% in the 1st quarter. GAMMA Investing LLC now owns 4,320 shares of the oil and gas exploration company's stock valued at $66,000 after purchasing an additional 2,737 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of NOV by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,019,765 shares of the oil and gas exploration company's stock valued at $44,089,000 after purchasing an additional 91,800 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of NOV by 41.3% in the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock valued at $38,000 after purchasing an additional 756 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.
NOV Stock Down 0.4%
NOV stock traded down $0.05 during trading on Friday, reaching $13.71. The stock had a trading volume of 3,677,214 shares, compared to its average volume of 4,148,632. NOV has a 1-year low of $10.84 and a 1-year high of $21.20. The company has a current ratio of 2.65, a quick ratio of 1.76 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $5.15 billion, a P/E ratio of 9.14, a PEG ratio of 3.43 and a beta of 1.28. The firm has a fifty day moving average price of $12.85 and a 200 day moving average price of $13.75.
NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The oil and gas exploration company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). NOV had a return on equity of 9.11% and a net margin of 6.68%. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The business's quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities analysts anticipate that NOV will post 1.4 earnings per share for the current year.
NOV Announces Dividend
The company also recently disclosed a dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a yield of 3.63%. NOV's dividend payout ratio is currently 20.00%.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. Susquehanna lowered their price objective on shares of NOV from $19.00 to $18.00 and set a "positive" rating for the company in a research note on Tuesday, July 1st. Barclays lowered their price objective on shares of NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price objective on shares of NOV from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Morgan Stanley lowered their price objective on shares of NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, Piper Sandler lowered their price objective on shares of NOV from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $17.38.
Check Out Our Latest Stock 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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