Stock Traders Purchase High Volume of Put Options on NOV (NYSE:NOV)

Key Points

• Investors have significantly increased their activity in NOV options, acquiring 2,616 put options, which is a 1,353% surge compared to the usual trading volume.
• Wells Fargo and Barclays both downgraded their target prices for NOV, reflecting a general trend of analysts setting underweight ratings on the stock, with average analyst targets now around $16.56.
• NOV announced a quarterly dividend of $0.075 per share, scheduled for distribution on September 26, demonstrating ongoing commitment to returning value to shareholders despite recent challenges.

NOV Inc. (NYSE:NOV - Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock investors acquired 2,616 put options on the company. Thisrepresentsanincreaseof1,353% compared to the typical daily volume of 180 put options.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company decreased their target price on NOV from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Thursday, June 5th. Barclays dropped their target price on shares of NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Stifel Nicolaus cut their target price on shares of NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. Morgan Stanley decreased their price target on shares of NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, Piper Sandler lowered their price objective on shares of NOV from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $16.56.

NOV Price Performance

Shares of NOV opened at $12.1950 on Thursday. NOV has a fifty-two week low of $10.84 and a fifty-two week high of $18.40. The firm's 50-day simple moving average is $12.96 and its two-hundred day simple moving average is $13.35. The stock has a market cap of $4.53 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 3.49 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 2.58.

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

NOV Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.075 per share. The ex-dividend date is Friday, September 12th. This represents a $0.30 annualized dividend and a dividend yield of 2.5%. NOV's dividend payout ratio (DPR) is presently 24.59%.

Hedge Funds Weigh In On NOV

A number of hedge funds have recently bought and sold shares of NOV. Banque Cantonale Vaudoise bought a new stake in NOV during the 1st quarter valued at about $25,000. CoreFirst Bank & Trust purchased a new position in NOV in the 2nd quarter worth approximately $35,000. Mirae Asset Global Investments Co. Ltd. bought a new position in NOV in the 1st quarter valued at approximately $36,000. CX Institutional purchased a new stake in NOV during the 1st quarter valued at $42,000. Finally, Hantz Financial Services Inc. increased its holdings in shares of NOV by 395.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company's stock worth $45,000 after purchasing an additional 2,921 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

About NOV

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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