Stock traders buy high volume of NOV put options (NYSE: NOV)

NOV Inc. (NYSE:NOV – Get Rating) was the recipient of some unusual options trading activity on Wednesday. Investors bought 2,616 put options on the company. This is an increase of approximately 1,353% from the average daily volume of 180 puts.

NYSE NOV opened at $21.14 on Thursday. The company has a debt ratio of 0.34, a quick ratio of 1.87 and a current ratio of 2.57. The company’s 50-day moving average price is $16.60 and its 200-day moving average price is $14.60. NOV has a 52-week low of $11.46 and a 52-week high of $24.06. The company has a market capitalization of $8.30 billion, a PE ratio of -32.52 and a beta of 1.98.

NOV (NYSE:NOV – Get Rating) last released its quarterly earnings data on Thursday, February 3. The oil and gas exploration company reported ($0.06) earnings per share (EPS) for the quarter, missing Zacks’ consensus estimate of ($0.03) by ($0.03). NOV had a negative net margin of 4.53% and a negative return on equity of 3.65%. The company posted revenue of $1.52 billion for the quarter, versus a consensus estimate of $1.46 billion. In the same quarter a year earlier, the company posted ($0.42) earnings per share. On average, analysts expect NOV to post 0.18 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 25. Shareholders of record on Friday, March 11 will receive a dividend of $0.05 per share. The ex-date of this dividend is Thursday, March 10. This represents a dividend of $0.20 on an annualized basis and a dividend yield of 0.95%. NOV’s dividend payout rate is currently -30.77%.

A number of institutional investors and hedge funds have recently changed their positions on NOV. IFP Advisors Inc increased its stake in NOV by 1,032.4% in the third quarter. IFP Advisors Inc now owns 2,378 shares of the oil and gas exploration company valued at $31,000 after acquiring 2,168 more shares last quarter. NEXT Financial Group Inc strengthened its position in NOV by 387.3% during the third quarter. NEXT Financial Group Inc now owns 2,685 shares of the oil and gas exploration company worth $35,000 after acquiring 2,134 additional shares in the last quarter. Moors & Cabot Inc. increased its holdings of NOV by 65.3% in Q3. Moors & Cabot Inc. now owns 34,000 shares of the oil and gas exploration company valued at $36,000 after buying 13,428 additional shares in the last quarter. Rockefeller Capital Management LP increased its holdings in November by 29.2% in the fourth quarter. Rockefeller Capital Management LP now owns 3,793 shares of the oil and gas exploration company valued at $51,000 after buying 857 additional shares in the last quarter. Finally, EverSource Wealth Advisors LLC acquired a new position in NOV in Q4 worth approximately $51,000. Institutional investors hold 94.96% of the company’s shares.

NOV has been the subject of a number of analyst reports. Susquehanna Bancshares lowered its price target on NOV shares from $23.00 to $22.00 in a Monday, February 7 report. TheStreet upgraded NOV’s shares from a “d” rating to a “c-” rating in a report on Friday, February 4. Susquehanna lowered its price target on NOV shares from $23.00 to $22.00 in a Monday, February 7 report. COKER & PALMER downgraded NOV’s shares from a “sector performer” rating to an “sector underperformer” rating in a Monday, February 7, report. Finally, Goldman Sachs Group downgraded NOV shares from a “neutral” rating to a “sell” rating and set a price target of $16.00 for the stock. in a Wednesday, February 23 research report. Four analysts gave the stock a sell rating, five gave the company a hold rating and five gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.36.

NOV company profile (Get a rating)

NOV, Inc provides equipment and technology to the upstream oil and gas industry. It operates through the following segments: Rig Technologies, Wellbore Technologies and Completion and Production Solutions. The Rig Technologies segment monitors its capital goods backlog to plan its activities. The Wellbore Technologies segment designs, manufactures, leases and sells a variety of equipment and technologies used to perform drilling operations and offers services that optimize their performance.

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