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

NOV Inc. (NYSE:NOV) was the target of unusually large options trading activity on Wednesday. Stock traders acquired 2,616 put options on the stock. This is an increase of approximately 1,353% compared to the typical daily volume of 180 put options.

Analyst Ratings Changes

NOV has been the topic of several research analyst reports. Royal Bank Of Canada dropped their target price on shares of NOV from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, July 30th. Stifel Nicolaus dropped their target price on shares of NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. JPMorgan Chase & Co. downgraded shares of NOV from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $17.00 to $15.00 in a report on Wednesday, July 30th. Piper Sandler dropped their target price on shares of NOV from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, August 14th. Finally, Citigroup raised their target price on shares of NOV from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.79.

Hedge Funds Weigh In On NOV

A number of institutional investors have recently added to or reduced their stakes in NOV. GAMMA Investing LLC increased its holdings in NOV by 4,053.5% during the first quarter. GAMMA Investing LLC now owns 65,750 shares of the oil and gas exploration company’s stock worth $1,001,000 after buying an additional 64,167 shares during the last quarter. CX Institutional acquired a new position in NOV during the first quarter worth $42,000. Wealth Enhancement Advisory Services LLC increased its holdings in NOV by 62.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 56,539 shares of the oil and gas exploration company’s stock worth $861,000 after buying an additional 21,813 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in NOV by 382.9% during the first quarter. Exchange Traded Concepts LLC now owns 18,201 shares of the oil and gas exploration company’s stock worth $277,000 after buying an additional 14,432 shares during the last quarter. Finally, QRG Capital Management Inc. increased its holdings in NOV by 12.1% during the first quarter. QRG Capital Management Inc. now owns 26,928 shares of the oil and gas exploration company’s stock worth $410,000 after buying an additional 2,896 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Price Performance

NYSE NOV opened at $12.82 on Thursday. The company has a quick ratio of 1.72, a current ratio of 2.58 and a debt-to-equity ratio of 0.26. NOV has a 12-month low of $10.84 and a 12-month high of $16.86. The company 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. The firm’s 50 day moving average is $12.92 and its 200-day moving average is $12.81.

NOV (NYSE:NOV) last posted its quarterly earnings data on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $2.19 billion during the quarter, compared to analyst estimates 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 last year, the business earned $0.57 earnings per share. NOV has set its Q3 2025 guidance at EPS. Equities research analysts anticipate that NOV will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

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

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.