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

Key Points

• Unusually large options activity: Traders bought 2,616 put options on NOV — about a 1,353% increase versus the average volume of 180 puts, indicating heightened bearish bets.
• Earnings miss and valuation: NOV reported Q results of $0.02 EPS versus $0.25 expected, with shares near $19, a 12‑month range of $11.44–$20.85 and a P/E around 50.15.
• Insider selling and dividend update: Executives sold sizable stakes (e.g., 151,086 and 70,000 shares), while the company raised its quarterly dividend to $0.09 (annualized $0.36, yield ~1.9%) amid a high payout ratio (~94.7%).

NOV Inc. (NYSE:NOV - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock traders purchased 2,616 put options on the stock. This is an increase of approximately 1,353% compared to the average volume of 180 put options.

NOV Price Performance

Shares of NYSE NOV opened at $19.06 on Thursday. NOV has a twelve month low of $11.44 and a twelve month high of $20.85. The company has a current ratio of 2.42, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 50.15 and a beta of 0.94. The business has a 50 day simple moving average of $19.24 and a 200-day simple moving average of $16.90.

NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The oil and gas exploration company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.23). NOV had a net margin of 1.66% and a return on equity of 3.57%. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the firm posted $0.41 earnings per share. NOV's revenue was down 1.3% compared to the same quarter last year. As a group, equities research analysts expect that NOV will post 1.4 earnings per share for the current year.

NOV Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were issued a $0.09 dividend. This is a positive change from NOV's previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.9%. NOV's dividend payout ratio (DPR) is presently 94.74%.

Analyst Upgrades and Downgrades

NOV has been the topic of several analyst reports. Royal Bank Of Canada downgraded NOV from an "outperform" rating to a "sector perform" rating and set a $21.00 price objective on the stock. in a report on Tuesday. Piper Sandler lifted their price objective on NOV from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, February 9th. Barclays upgraded NOV from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $15.00 to $20.00 in a report on Wednesday, February 4th. Morgan Stanley boosted their target price on shares of NOV from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Finally, Argus raised shares of NOV to a "hold" rating in a research report on Tuesday, February 10th. Three equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $18.93.

Insider Buying and Selling at NOV

In related news, insider Joseph W. Rovig sold 151,086 shares of NOV stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $20.17, for a total transaction of $3,047,404.62. Following the sale, the insider owned 269,694 shares of the company's stock, valued at $5,439,727.98. The trade was a 35.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Craig L. Weinstock sold 70,000 shares of NOV stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $20.08, for a total transaction of $1,405,600.00. Following the sale, the vice president directly owned 256,319 shares in the company, valued at $5,146,885.52. This trade represents a 21.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.08% of the company's stock.

Institutional Investors Weigh In On NOV

A number of institutional investors have recently modified their holdings of NOV. Price T Rowe Associates Inc. MD grew its position in shares of NOV by 1,743.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,059,400 shares of the oil and gas exploration company's stock valued at $79,080,000 after buying an additional 4,785,015 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of NOV by 401.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,165,518 shares of the oil and gas exploration company's stock valued at $39,347,000 after buying an additional 2,534,815 shares during the last quarter. American Century Companies Inc. grew its position in shares of NOV by 43.6% during the 3rd quarter. American Century Companies Inc. now owns 7,596,504 shares of the oil and gas exploration company's stock valued at $100,654,000 after buying an additional 2,304,975 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of NOV by 76.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,721,997 shares of the oil and gas exploration company's stock valued at $42,545,000 after buying an additional 1,178,838 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of NOV during the 3rd quarter valued at about $14,114,000. Institutional investors own 93.27% of the company's stock.

NOV Company Profile

National Oilwell Varco NYSE: NOV is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV's business is organized to serve upstream energy companies around the world.

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