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

Key Points

• NOV Inc. experienced a significant increase in options trading, with 2,616 put options traded, marking a rise of approximately 1,353% from its typical volume.
• Various analysts have recently downgraded NOV's stock price targets, with current estimates ranging from $10.00 to $20.00, emphasizing a mixed outlook on the company's performance.
• The company declared a quarterly dividend of $0.075 per share, yielding an annualized return of 2.3%, and the dividend payout ratio stands at 24.59%.

NOV Inc. (NYSE:NOV - Get Free Report) saw some unusual options trading on Wednesday. Investors acquired 2,616 put options on the stock. This represents an increase of 1,353% compared to the typical volume of 180 put options.

NOV Price Performance

NOV stock traded down $0.36 during midday trading on Friday, hitting $12.61. 7,565,051 shares of the company's stock were exchanged, compared to its average volume of 3,303,936. NOV has a 52-week low of $10.84 and a 52-week high of $17.12. The stock has a 50-day moving average price of $12.83 and a two-hundred day moving average price of $12.99. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 2.58. The company has a market cap of $4.68 billion, a P/E ratio of 10.34, a PEG ratio of 3.63 and a beta of 1.34.

NOV (NYSE:NOV - Get Free Report) last posted its earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). NOV had a return on equity of 7.25% and a net margin of 5.36%.The business had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.16 billion. During the same quarter in the previous year, the firm earned $0.57 earnings per share. NOV's quarterly revenue was down 1.3% compared to the same quarter last year. NOV has set its Q3 2025 guidance at EPS. On average, equities research analysts forecast that NOV will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, September 12th. NOV's dividend payout ratio is presently 24.59%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NOV shares. JPMorgan Chase & Co. cut NOV from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $17.00 to $15.00 in a research report on Wednesday, July 30th. Royal Bank Of Canada reduced their price target on NOV from $19.00 to $18.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Piper Sandler reduced their price target on NOV from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, August 14th. Wells Fargo & Company reduced their price target on NOV from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Thursday, June 5th. Finally, Stifel Nicolaus reduced their price target on NOV from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, NOV currently has a consensus rating of "Hold" and a consensus price target of $16.56.

Hedge Funds Weigh In On NOV

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC increased its holdings in shares of NOV by 33.2% in the 2nd quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company's stock worth $46,000 after purchasing an additional 931 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of NOV by 6.1% in the 4th quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company's stock worth $266,000 after purchasing an additional 1,042 shares in the last quarter. Vident Advisory LLC grew its holdings in shares of NOV by 9.6% in the first quarter. Vident Advisory LLC now owns 12,860 shares of the oil and gas exploration company's stock worth $196,000 after acquiring an additional 1,126 shares during the period. Keeley Teton Advisors LLC grew its holdings in shares of NOV by 1.1% in the first quarter. Keeley Teton Advisors LLC now owns 107,317 shares of the oil and gas exploration company's stock worth $1,633,000 after acquiring an additional 1,128 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of NOV by 30.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,937 shares of the oil and gas exploration company's stock worth $75,000 after acquiring an additional 1,155 shares during the period. 93.27% of the stock is currently owned by hedge funds and other 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.