NOV Inc. (NYSE:NOV - Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock traders acquired 2,616 put options on the stock. This represents an increase of 1,353% compared to the typical volume of 180 put options.
Wall Street Analyst Weigh In
Several research firms have weighed in on NOV. Piper Sandler cut their target price on NOV from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company cut their target price on NOV from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Thursday, June 5th. Susquehanna cut their target price on NOV from $19.00 to $18.00 and set a "positive" rating for the company in a research note on Tuesday, July 1st. Barclays cut their target price on NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus cut their target price on NOV from $25.00 to $23.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $17.38.
Read Our Latest Stock Analysis on NOV
Hedge Funds Weigh In On NOV
A number of hedge funds have recently modified their holdings of the company. Harbor Capital Advisors Inc. increased its position in shares of NOV by 18.8% in the second quarter. Harbor Capital Advisors Inc. now owns 804,961 shares of the oil and gas exploration company's stock valued at $10,006,000 after acquiring an additional 127,433 shares during the period. Canandaigua National Trust Co of Florida increased its position in shares of NOV by 114.0% in the second quarter. Canandaigua National Trust Co of Florida now owns 77,394 shares of the oil and gas exploration company's stock valued at $962,000 after acquiring an additional 41,235 shares during the period. Canandaigua National Bank & Trust Co. increased its position in shares of NOV by 64.9% in the second quarter. Canandaigua National Bank & Trust Co. now owns 101,211 shares of the oil and gas exploration company's stock valued at $1,258,000 after acquiring an additional 39,848 shares during the period. Greenhaven Associates Inc. increased its position in shares of NOV by 21.1% in the second quarter. Greenhaven Associates Inc. now owns 4,982,516 shares of the oil and gas exploration company's stock valued at $61,933,000 after acquiring an additional 868,359 shares during the period. Finally, Voya Investment Management LLC increased its position in shares of NOV by 2.8% in the first quarter. Voya Investment Management LLC now owns 48,413 shares of the oil and gas exploration company's stock valued at $737,000 after acquiring an additional 1,309 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.
NOV Price Performance
Shares of NYSE NOV traded up $0.03 during mid-day trading on Friday, reaching $13.79. 1,232,978 shares of the company were exchanged, compared to its average volume of 4,123,407. NOV has a 52 week low of $10.84 and a 52 week high of $21.20. The company has a quick ratio of 1.76, a current ratio of 2.65 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $5.18 billion, a PE ratio of 9.19, a PEG ratio of 3.37 and a beta of 1.28. The company's 50 day moving average price is $12.82 and its 200 day moving average price is $13.76.
NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.06). The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.11 billion. NOV had a return on equity of 9.11% and a net margin of 6.68%. The business's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. Sell-side analysts forecast that NOV will post 1.4 earnings per share for the current fiscal 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 given a $0.21 dividend. This represents a dividend yield of 3.63%. The ex-dividend date of this dividend was Monday, June 2nd. NOV's payout ratio is 20.00%.
NOV Company Profile
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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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