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

NOV Inc. (NYSE:NOV) saw unusually large options trading activity on Wednesday. Traders purchased 2,616 put options on the company. This represents an increase of 1,353% compared to the typical daily volume of 180 put options.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Neo Ivy Capital Management acquired a new stake in NOV in the 4th quarter valued at about $3,695,000. CSS LLC IL bought a new stake in shares of NOV in the 4th quarter worth approximately $400,000. Tidal Investments LLC lifted its stake in NOV by 239.6% during the fourth quarter. Tidal Investments LLC now owns 71,995 shares of the oil and gas exploration company’s stock valued at $1,051,000 after purchasing an additional 50,795 shares during the last quarter. Teza Capital Management LLC bought a new stake in NOV during the fourth quarter worth approximately $151,000. Finally, State of Wyoming grew its position in NOV by 79.6% in the fourth quarter. State of Wyoming now owns 12,563 shares of the oil and gas exploration company’s stock worth $183,000 after buying an additional 5,568 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NOV shares. Raymond James boosted their price objective on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. ATB Capital reaffirmed a “sector perform” rating and set a $19.00 target price on shares of NOV in a report on Tuesday, December 10th. Stifel Nicolaus dropped their price target on NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Atb Cap Markets lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, TD Cowen dropped their target price on NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, NOV presently has a consensus rating of “Hold” and a consensus target price of $19.60.

NOV Trading Down 2.2 %

Shares of NYSE:NOV opened at $15.28 on Thursday. The company has a 50 day moving average of $14.94 and a 200-day moving average of $15.90. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. The firm has a market cap of $5.94 billion, a P/E ratio of 9.49, a P/E/G ratio of 1.02 and a beta of 1.64. NOV has a twelve month low of $13.94 and a twelve month high of $21.20.

NOV (NYSE:NOV) last announced its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. As a group, analysts anticipate that NOV will post 1.4 earnings per share for the current fiscal year.

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.