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

NOV Inc. (NYSE:NOV - Get Free Report) was the target of some unusual options trading activity on Wednesday. Stock investors bought 2,616 put options on the company. This represents an increase of 1,353% compared to the average daily volume of 180 put options.

NOV Price Performance

Shares of NYSE:NOV traded up $0.02 on Thursday, reaching $13.39. 2,930,077 shares of the company were exchanged, compared to its average volume of 4,001,734. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. NOV has a 1-year low of $10.84 and a 1-year high of $21.20. The company has a 50-day moving average of $12.29 and a 200-day moving average of $14.05. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 8.32, a price-to-earnings-growth ratio of 1.02 and a beta of 1.28.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). NOV had a net margin of 7.16% and a return on equity of 9.88%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the business posted $0.30 earnings per share. NOV's revenue was down 2.4% on a year-over-year basis. Equities analysts forecast that NOV will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd will be issued a $0.21 dividend. This represents a yield of 3.63%. The ex-dividend date is Monday, June 2nd. NOV's dividend payout ratio (DPR) is 20.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NOV. The Goldman Sachs Group dropped their price objective on shares of NOV from $16.00 to $13.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Royal Bank of Canada reduced their target price on NOV from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Susquehanna cut their price objective on NOV from $21.00 to $19.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Barclays decreased their target price on NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Finally, Stifel Nicolaus dropped their price objective on shares of NOV from $25.00 to $23.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $17.44.

Hedge Funds Weigh In On NOV

A number of large investors have recently bought and sold shares of NOV. Banque Cantonale Vaudoise purchased a new stake in shares of NOV in the first quarter worth about $25,000. Huntington National Bank increased its position in shares of NOV by 88.7% in the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock worth $32,000 after purchasing an additional 1,034 shares during the last quarter. Covestor Ltd grew its position in shares of NOV by 282.9% in the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company's stock worth $33,000 after acquiring an additional 1,655 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of NOV in the 1st quarter valued at approximately $36,000. Finally, Signaturefd LLC increased its stake in NOV by 41.3% during the fourth 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 during the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

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.