NOV Target of Unusually Large Options Trading (NYSE:NOV)

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

In other news, Director Eric L. Mattson sold 8,157 shares of the stock in a transaction on Thursday, October 28th. The shares were sold at an average price of $14.53, for a total value of $118,521.21. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.39% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its holdings in shares of NOV by 0.8% in the 3rd quarter. Arizona State Retirement System now owns 106,408 shares of the oil and gas exploration company’s stock valued at $1,395,000 after buying an additional 882 shares in the last quarter. Shell Asset Management Co. boosted its holdings in shares of NOV by 5.7% in the 2nd quarter. Shell Asset Management Co. now owns 18,741 shares of the oil and gas exploration company’s stock valued at $287,000 after buying an additional 1,010 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of NOV by 3.8% in the 3rd quarter. LPL Financial LLC now owns 27,690 shares of the oil and gas exploration company’s stock valued at $363,000 after buying an additional 1,023 shares in the last quarter. qPULA Trading Management LP boosted its holdings in shares of NOV by 10.5% in the 3rd quarter. qPULA Trading Management LP now owns 12,456 shares of the oil and gas exploration company’s stock valued at $163,000 after buying an additional 1,182 shares in the last quarter. Finally, M&T Bank Corp raised its position in shares of NOV by 4.9% in the 3rd quarter. M&T Bank Corp now owns 27,108 shares of the oil and gas exploration company’s stock valued at $355,000 after purchasing an additional 1,265 shares during the last quarter. Institutional investors and hedge funds own 93.32% of the company’s stock.

Shares of NOV stock opened at $16.21 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.67 and a quick ratio of 1.95. NOV has a 1 year low of $11.46 and a 1 year high of $18.02. The firm’s 50-day moving average is $13.56 and its two-hundred day moving average is $13.72. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of -11.18 and a beta of 2.23.

NOV (NYSE:NOV) last issued its earnings results on Tuesday, October 26th. The oil and gas exploration company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.03). NOV had a negative return on equity of 6.25% and a negative net margin of 10.44%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.42 billion. On average, equities analysts expect that NOV will post -0.54 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 17th. Stockholders of record on Friday, December 3rd were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, December 2nd. NOV’s dividend payout ratio is currently -13.79%.

A number of research analysts have recently commented on the stock. Morgan Stanley cut their price target on shares of NOV from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Monday, October 11th. Griffin Securities restated a “hold” rating on shares of NOV in a report on Sunday, October 31st. Wells Fargo & Company assumed coverage on shares of NOV in a report on Sunday, September 26th. They issued a “sell” rating and a $12.00 price target on the stock. Finally, JPMorgan Chase & Co. upgraded shares of NOV from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $15.00 to $17.00 in a report on Tuesday, December 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $16.56.

About NOV

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 equipment backlog to plan its business. The Wellbore Technologies segment designs, manufactures, rents, and sells a variety of equipment and technologies used to perform drilling operations and offers services that optimize their performance.

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