Investors Buy High Volume of NOV Call Options (NYSE:NOV)

NOV Inc. (NYSE:NOV) saw unusually large options trading on Tuesday. Investors acquired 8,161 call options on the stock. This is an increase of 371% compared to the typical daily volume of 1,731 call options.

NOV Stock Up 1.7 %

Shares of NOV stock opened at $16.26 on Thursday. The company has a fifty day moving average price of $16.02 and a 200 day moving average price of $17.46. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 6.00, a price-to-earnings-growth ratio of 0.93 and a beta of 1.66. NOV has a twelve month low of $14.98 and a twelve month high of $21.23. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.85%. The ex-dividend date is Friday, December 6th. NOV’s dividend payout ratio (DPR) is presently 11.07%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Mather Group LLC. raised its position in shares of NOV by 17.2% in the 2nd quarter. Mather Group LLC. now owns 5,706 shares of the oil and gas exploration company’s stock valued at $111,000 after purchasing an additional 839 shares in the last quarter. GAMMA Investing LLC raised its stake in NOV by 18.2% during the second quarter. GAMMA Investing LLC now owns 5,496 shares of the oil and gas exploration company’s stock worth $104,000 after acquiring an additional 848 shares during the period. Quadrature Capital Ltd grew its holdings in shares of NOV by 3.1% during the first quarter. Quadrature Capital Ltd now owns 29,481 shares of the oil and gas exploration company’s stock valued at $576,000 after purchasing an additional 889 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of NOV by 3.4% in the 2nd quarter. Truist Financial Corp now owns 29,729 shares of the oil and gas exploration company’s stock worth $565,000 after purchasing an additional 991 shares during the last quarter. Finally, HM Payson & Co. grew its stake in NOV by 2.1% during the 3rd quarter. HM Payson & Co. now owns 49,000 shares of the oil and gas exploration company’s stock worth $783,000 after buying an additional 1,000 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NOV shares. Evercore ISI raised NOV to a “strong-buy” rating in a research note on Friday, July 26th. Citigroup cut NOV from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $21.00 to $18.00 in a research note on Monday, November 11th. Barclays decreased their target price on NOV from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Wells Fargo & Company reduced their price target on shares of NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Finally, Stifel Nicolaus dropped their price target on shares of NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.64.

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.