NOV Sees Unusually High Options Volume (NYSE:NOV)

NOV Inc. (NYSE:NOV) was the target of some unusual options trading on Wednesday. Stock investors bought 2,616 put options on the company. This is an increase of approximately 1,353% compared to the average volume of 180 put options.

NOV Stock Down 0.1 %

NOV opened at $15.99 on Thursday. The company has a market capitalization of $6.22 billion, a P/E ratio of 5.90, a P/E/G ratio of 0.94 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. The firm’s fifty day moving average price is $16.04 and its two-hundred day moving average price is $17.38. NOV has a fifty-two week low of $14.98 and a fifty-two week high of $21.23.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 1.88%. NOV’s dividend payout ratio (DPR) is currently 11.07%.

Wall Street Analyst Weigh In

NOV has been the subject of a number of research analyst reports. Morgan Stanley cut their target price on shares of NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Bank of America cut their price objective on NOV from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Wells Fargo & Company lowered their target price on NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Susquehanna cut their price target on NOV from $22.00 to $21.00 and set a “positive” rating for the company in a report on Monday, October 28th. Finally, Stifel Nicolaus lowered their price objective on shares of NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.64.

Insider Activity

In other news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the sale, the director now directly owns 110,951 shares in the company, valued at approximately $1,786,311.10. The trade was a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NOV. Rothschild Investment LLC bought a new stake in shares of NOV in the 2nd quarter valued at approximately $28,000. Quarry LP bought a new stake in NOV in the third quarter valued at $36,000. American National Bank & Trust bought a new stake in NOV in the third quarter valued at $39,000. International Assets Investment Management LLC lifted its holdings in shares of NOV by 1,590.1% during the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 2,735 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in shares of NOV in the 3rd quarter valued at $48,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.