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

Key Points

• Stock traders have purchased 2,616 put options on NOV Inc., marking a substantial increase of 1,353% compared to the typical daily volume.
• NOV recently reported earnings of $0.29 EPS, missing consensus estimates, while revenue for the quarter was $2.19 billion, slightly exceeding expectations.
• The company announced a quarterly dividend of $0.075 per share, representing an annualized yield of 2.3% with a payout ratio of 24.59%.

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

NOV Stock Performance

NOV stock opened at $12.82 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.58 and a quick ratio of 1.72. The company has a 50 day moving average price of $12.92 and a 200 day moving average price of $12.81. NOV has a fifty-two week low of $10.84 and a fifty-two week high of $16.86. The stock has a market capitalization of $4.76 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 3.70 and a beta of 1.26.

NOV (NYSE:NOV - Get Free Report) last issued 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). The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. NOV had a net margin of 5.36% and a return on equity of 7.25%. The business's revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS. NOV has set its Q3 2025 guidance at EPS. Analysts forecast that NOV will post 1.4 EPS for the current year.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.075 per share. The ex-dividend date was Friday, September 12th. This represents a $0.30 annualized dividend and a dividend yield of 2.3%. NOV's payout ratio is presently 24.59%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NOV shares. Weiss Ratings reissued a "hold (c-)" rating on shares of NOV in a report on Wednesday, October 8th. Zacks Research raised NOV from a "strong sell" rating to a "hold" rating in a report on Monday, October 6th. Stifel Nicolaus reduced their target price on NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Citigroup boosted their target price on NOV from $13.00 to $14.00 and gave the stock a "neutral" rating in a report on Wednesday, October 8th. Finally, Evercore ISI reduced their target price on NOV from $15.00 to $14.00 and set an "in-line" rating on the stock in a report on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $15.79.

Institutional Trading of NOV

Several institutional investors and hedge funds have recently made changes to their positions in NOV. Banque Cantonale Vaudoise bought a new stake in shares of NOV during the 1st quarter valued at $25,000. CoreFirst Bank & Trust bought a new stake in shares of NOV during the 2nd quarter valued at $35,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of NOV during the 1st quarter valued at $36,000. CX Institutional bought a new stake in shares of NOV in the 1st quarter valued at $42,000. Finally, Hantz Financial Services Inc. increased its position 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 valued at $45,000 after buying 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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