NOV Sees Unusually High Options Volume (NYSE:NOV)

NOV Inc. (NYSE:NOV) was the target of unusually large options trading activity on Tuesday. Stock investors bought 8,161 call options on the company. This is an increase of 371% compared to the typical volume of 1,731 call options.

NOV Price Performance

Shares of NOV stock opened at $15.99 on Wednesday. The firm has a market cap of $6.22 billion, a PE ratio of 5.90, a P/E/G ratio of 0.93 and a beta of 1.66. The business has a 50-day moving average price of $16.02 and a 200 day moving average price of $17.47. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. NOV has a twelve month low of $14.98 and a twelve month high of $21.23.

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 paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a yield of 1.88%. NOV’s dividend payout ratio is currently 11.07%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Bank of America decreased their price target on NOV from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Citigroup lowered shares of NOV from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $21.00 to $18.00 in a report on Monday, November 11th. Susquehanna reduced their target price on shares of NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research report on Monday, October 28th. Barclays lowered their price target on NOV from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Tuesday, October 29th. Finally, BMO Capital Markets lowered their target price on NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.64.

Hedge Funds Weigh In On NOV

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC boosted its position in shares of NOV by 22.3% during the 3rd quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock valued at $687,143,000 after acquiring an additional 7,851,220 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of NOV by 23.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock worth $593,336,000 after purchasing an additional 6,963,660 shares during the period. Dimensional Fund Advisors LP increased its position in shares of NOV by 40.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock worth $230,743,000 after purchasing an additional 3,470,860 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in NOV by 67.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock valued at $188,749,000 after buying an additional 3,989,095 shares during the period. Finally, Boston Partners acquired a new stake in shares of NOV during the first quarter valued at about $119,686,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.