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

NOV Inc. (NYSE: NOV – Get Rating) was the beneficiary of unusually heavy options trading on Wednesday. Equity investors bought 2,616 put options on the company. This represents an increase of approximately 1,353% over the average volume of 180 puts.

Several hedge funds have recently bought and sold shares of NOV. Moors & Cabot Inc. increased its equity stake in NOV by 65.3% during the 3rd quarter. Moors & Cabot Inc. now owns 34,000 shares of the oil and gas exploration company worth $36,000 after acquiring 13,428 additional shares in the last quarter. Rockefeller Capital Management LP increased its stake in NOV 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 during the period. EverSource Wealth Advisors LLC purchased a new stake in NOV in Q4 for $51,000. Rosenberg Matthew Hamilton bought a new stake in NOV in Q1 for $65,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in NOV in the 4th quarter for a value of $68,000. 94.96% of the shares are currently held by institutional investors and hedge funds.

A number of stock analysts have published reports on the company. Bank of America upgraded NOV from a “buy” rating to an “underperform” rating in a Friday, March 11 report. Stifel Nicolaus raised his November price target from $20.00 to $23.00 in a Friday, April 8 report. TheStreet upgraded NOV from a “d” grade to a “c-” grade in a Friday, February 4 report. Wells Fargo & Company raised its price target on NOV from $14.00 to $16.00 and gave the company an “underweight” rating in a Thursday, March 31 report. Finally, Susquehanna Bancshares cut its price target on NOV from $23.00 to $22.00 in a Monday, February 7 report. Four investment analysts gave the stock a sell rating, seven gave the company a hold rating and four gave the company a buy rating. According to data from, NOV currently has an average rating of “Hold” and an average target price of $18.67.

NOV stock opened at $20.13 on Thursday. The company has a current ratio of 2.57, a quick ratio of 1.87 and a debt ratio of 0.34. The company has a market capitalization of $7.91 billion, a PE ratio of -30.97 and a beta of 2.00. NOV has a 1-year low of $11.46 and a 1-year high of $24.06. The company’s 50-day simple moving average is $19.08 and its 200-day simple moving average is $16.04.

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

The company also recently announced a quarterly dividend, which was paid on Friday, March 25. Investors of record on Friday, March 11 received a dividend of $0.05 per share. This represents a dividend of $0.20 on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Thursday, March 10. NOV’s payout ratio is currently -30.77%.

NOV company profile (Get an assessment)

NOV Inc designs, builds, manufactures and sells systems, components and products for the oil and gas drilling and production, industrial and renewable energy sectors worldwide. The Company operates through three segments: Wellbore Technologies, Completion & Production Solutions and Rig Technologies.

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