NOV Inc. (NYSE:NOV – Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Investors purchased 2,616 put options on the company. This is an increase of 1,353% compared to the average volume of 180 put options.
Analyst Ratings Changes
A number of brokerages recently issued reports on NOV. Capital One Financial began coverage on NOV in a research report on Friday, July 14th. They issued an “equal weight” rating and a $20.00 price objective on the stock. The Goldman Sachs Group raised their target price on shares of NOV from $16.00 to $18.00 and gave the company a “sell” rating in a research note on Wednesday, August 9th. Barclays downgraded shares of NOV from an “equal weight” rating to an “underweight” rating and set a $20.00 target price on the stock. in a research note on Tuesday. Raymond James raised their target price on shares of NOV from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. Finally, StockNews.com began coverage on shares of NOV in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.27.
Get Our Latest Analysis on NOV
NOV Stock Down 1.1 %
NOV (NYSE:NOV – Get Free Report) last issued its earnings results on Wednesday, July 26th. The oil and gas exploration company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. NOV had a net margin of 5.20% and a return on equity of 7.99%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the firm earned $0.18 earnings per share. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, equities analysts expect that NOV will post 1.48 EPS for the current year.
NOV Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Thursday, September 14th. NOV’s payout ratio is 19.05%.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of NOV. JPMorgan Chase & Co. increased its position in NOV by 16.6% during the 1st quarter. JPMorgan Chase & Co. now owns 762,999 shares of the oil and gas exploration company’s stock valued at $14,961,000 after purchasing an additional 108,845 shares during the period. Raymond James & Associates increased its position in NOV by 15.4% during the 1st quarter. Raymond James & Associates now owns 175,860 shares of the oil and gas exploration company’s stock valued at $3,449,000 after purchasing an additional 23,430 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in NOV by 8.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 13,935 shares of the oil and gas exploration company’s stock valued at $273,000 after purchasing an additional 1,079 shares during the period. US Bancorp DE grew its holdings in shares of NOV by 2.0% during the 1st quarter. US Bancorp DE now owns 39,557 shares of the oil and gas exploration company’s stock worth $777,000 after acquiring an additional 788 shares during the period. Finally, HighTower Advisors LLC grew its holdings in shares of NOV by 7.8% during the 1st quarter. HighTower Advisors LLC now owns 40,976 shares of the oil and gas exploration company’s stock worth $801,000 after acquiring an additional 2,962 shares during the period. Hedge funds and other institutional investors own 93.19% of the company’s stock.
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 worldwide. The company operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.
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