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

Key Points

• NOV was the target of unusually large options activity — traders bought 2,616 put options, a 1,353% increase versus the daily average of 180, signaling heavy bearish bets.
• Q1 results were mixed: adjusted EPS of $0.05 missed consensus $0.17 while revenue was roughly in line at $2.05B; management flagged margin pressure but approved a $200M Brazil flexibles expansion and set 2026 capex at $340–$370M.
• Insiders executed sizeable sales — the VP sold 70,000 shares and another insider sold 151,086 shares, reducing their positions and leaving insiders with just 1.15% ownership.

NOV Inc. (NYSE:NOV - Get Free Report) was the target 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 average daily volume of 180 put options.

NOV News Summary

Here are the key news stories impacting NOV this week:

• Positive Sentiment: Management approved a $200M expansion for Brazil flexibles and signaled targeted growth investments, which support future revenue capture in higher‑margin product lines. NOV outlines $340M-$370M 2026 capex plan as it approves $200M Brazil flexibles expansion
• Positive Sentiment: Company set a $340M–$370M 2026 capex range — a balanced program that funds growth while remaining conservative on spending, which investors may read as supportive of cash‑flow and return potential. NOV outlines $340M-$370M 2026 capex plan as it approves $200M Brazil flexibles expansion
• Neutral Sentiment: Q1 results were mixed: revenue was roughly in line with expectations while adjusted EPS was essentially flat to slightly below consensus — the quarter shows resilience but limited near‑term upside. NOV Inc. Q1 2026 Earnings Call Summary
• Neutral Sentiment: Management emphasized industry recovery opportunities and a disciplined backlog conversion approach — these comments temper downside while leaving upside dependent on market recovery. NOV Inc. Balances Resilience And Headwinds In Q1
• Negative Sentiment: Management flagged margin pressure from Middle East disruptions and softer near‑term demand in some segments — a headwind for profitability that could weigh on forward guidance and multiple expansion. NOV Q1 deep dive: Middle East disruptions pressure margins, management eyes industry recovery
• Negative Sentiment: Initial market reaction after the print included a price pullback in some coverage (investors digesting the mixed beat/miss and margin commentary), though later headlines about capex/expansion helped shares recover. NOV NYSE: NOV reports Q1 CY2026 in line with expectations but stock drops

Insiders Place Their Bets

In related news, VP Craig L. Weinstock sold 70,000 shares of the firm's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $20.08, for a total value of $1,405,600.00. Following the transaction, the vice president owned 256,319 shares of the company's stock, valued at $5,146,885.52. This trade represents a 21.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph W. Rovig sold 151,086 shares of NOV stock in a transaction dated 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. Additional details regarding this sale are available in the official SEC disclosure. 1.15% of the stock is currently owned by insiders.

Institutional Trading of NOV

Hedge funds have recently modified their holdings of the company. Oregon Public Employees Retirement Fund grew its position in shares of NOV by 1.9% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 73,920 shares of the oil and gas exploration company's stock worth $1,390,000 after buying an additional 1,400 shares during the last quarter. Lee Danner & Bass Inc. lifted its position in NOV by 55.3% during the first quarter. Lee Danner & Bass Inc. now owns 280,800 shares of the oil and gas exploration company's stock valued at $5,282,000 after acquiring an additional 100,000 shares during the last quarter. HB Wealth Management LLC acquired a new stake in NOV in the first quarter valued at approximately $198,000. Y Intercept Hong Kong Ltd purchased a new position in NOV in the first quarter worth $2,331,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in NOV in the first quarter worth $2,251,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Price Performance

NYSE NOV opened at $20.75 on Thursday. The company has a market cap of $7.48 billion, a PE ratio of 86.48 and a beta of 0.94. The firm's 50 day moving average price is $19.41 and its 200-day moving average price is $17.36. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.42. NOV has a 52-week low of $11.44 and a 52-week high of $20.93.

NOV (NYSE:NOV - Get Free Report) last posted its earnings results on Monday, April 27th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.12). NOV had a return on equity of 3.31% and a net margin of 1.05%.The company had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.07 billion. During the same quarter in the prior year, the company earned $0.19 EPS. The firm's quarterly revenue was down 2.4% on a year-over-year basis. Sell-side analysts forecast that NOV will post 0.99 EPS for the current fiscal year.

NOV Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, March 13th. This is an increase from NOV's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.7%. NOV's dividend payout ratio is 150.00%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NOV. TD Cowen downgraded shares of NOV from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 10th. BMO Capital Markets increased their price objective on NOV from $19.00 to $20.00 and gave the stock a "market perform" rating in a research note on Monday, February 9th. Citigroup raised their price objective on NOV from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, February 11th. Barclays upgraded NOV from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $15.00 to $20.00 in a report on Wednesday, February 4th. Finally, Piper Sandler increased their price target on NOV from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, February 9th. Three equities research analysts have rated the stock with a Buy rating, twelve have assigned 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 a consensus price target of $19.29.

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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