Stock traders bet against NOV Inc. with high volume put options on NYE

Stock traders bet against NOV Inc. with high volume put options on NYE

The stock of NOV Inc. (NYE:NOV) saw an unusual increase in put options trading on Wednesday, with a surge of 1,353% compared to the typical volume. Despite this, several analysts have recently given the company positive ratings, with nine analysts rating it as a buy and six as a hold. NOV has a market cap of $7.16 billion and has shown growth potential, with a debt-to-equity ratio of 0.33, a financial ratio of 2.25, and a ratio of 1.51. The company beat earnings estimates in its last quarterly earnings report and announced a dividend on March 31st. Several hedge funds have recently increased their stakes in NOV, further highlighting its investment potential.

NOV’s Stock performance

In terms of NOV’s stock performance, it has a one-year low of $13.98 and a one-year high of $24.83. As of Thursday, April 6th, shares opened at $18.22. The company’s PE ratio is 46.72. NOV’s recent quarterly earnings report showed $0.26 earnings per share, beating the consensus estimate of $0.23 by $0.03. The company revenue of $2.07 billion for the Y2023, up 36.7% compared to the same quarter last year. StockTargetAdvisor’s research analysts predict that NOV will have an average EPS estimate of 1.18 in the future. The company recently announced a dividend price of $0.05 per share, which was paid on March 31st. NOV has a payout ratio of 51.28% and an annualized yield of 1.10%.

NOV Ratings by Stock Target Advisor

NOV Inc. Stock Forecast

NOV Inc. has an average analyst target price of $25.30 over the next 12 months based on the forecasts of 16 analysts, who also rate the stock as “Buy” on average. However, according to Stock Target Advisor’s own analysis, the outlook is bearish, based on 11 negative signals and only 4 positive signals. The stock closed at $18.22, having fallen by 1.14% over the past week, 21.40% over the past month, and 5.94% over the last year.

NOV Ratings by Stock Target Advisor

Company Overview

NOV Inc. is a global company that designs, manufactures, and sells products and systems for various sectors including oil and gas drilling, renewable energy, and industrial. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. NOV Inc. also manufactures industrial pumps and mixers, and offers spare parts, repair, rentals, and technical support. The company was founded in 1862 and is headquartered in Houston, Texas.

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