High Volume of Put Options Traded on NOV Inc. (NYSE:NOV)

On February 20, 2025, NOV Inc. (NYSE:NOV) saw a significant increase in options trading activity as investors purchased a substantial number of put options. Specifically, there were 2,616 put options traded, which marks an increase of 1,353% compared to the usual daily volume of around 180 put options.

Analyst Ratings and Price Targets

Recently, several analysts have provided updates on NOV's stock. ATB Capital Markets downgraded NOV from a "strong-buy" to a "hold" rating as of December 10th. Meanwhile, TD Cowen lowered its price target for NOV from $28.00 to $22.00 while maintaining a "buy" recommendation in a report on October 28th. In another move, Wells Fargo & Company reduced their price target from $16.00 to $15.00 and assigned an "underweight" rating on November 4th. Seaport Research Partners also revised their rating from "strong-buy" to "hold" on January 5th. Conversely, Piper Sandler raised its price target from $17.00 to $18.00, giving the company a "neutral" rating on February 10th. Currently, analyst ratings for NOV include two sell ratings, nine holds, and seven buy ratings, leading to an average rating of "Hold" and a consensus target price of $19.60 according to MarketBeat.com.

Hedge Fund Activity

Various hedge funds and institutional investors have made recent changes regarding their holdings in NOV. Notably, Pacer Advisors Inc. significantly increased its position in NOV by a staggering 12,344.0% during the fourth quarter, now holding 12,309,433 shares valued at approximately $179.7 million after acquiring an additional 12,210,514 shares. Pzena Investment Management LLC increased their holdings by 22.3% in the third quarter, now owning 43,027,106 shares worth about $687.1 million after buying 7,851,220 additional shares. Furthermore, Hotchkis & Wiley Capital Management LLC raised their stake by 23.1% during the same period, bringing their total to 37,153,173 shares valued at around $593.3 million after purchasing 6,963,660 shares. Additionally, First Pacific Advisors LP and Weiss Asset Management LP both entered new positions in NOV during the same quarter, worth $39.5 million and $35.7 million, respectively. Overall, institutional investors now control 93.27% of NOV’s stock.

NOV's Stock Overview

NOV's stock opened at $15.28 on February 21st. The company reports a quick ratio of 1.64, a current ratio of 2.46, and a debt-to-equity ratio of 0.26. The fifty-day simple moving average stands at $14.94, while the 200-day moving average is at $15.90. Over the past twelve months, NOV stock has reached a low of $13.94 and a high of $21.20. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 9.49, a PEG ratio of 1.02, and a beta of 1.64.

NOV's latest earnings report was released on February 4th, revealing earnings of $0.41 per share for the quarter, surpassing analysts' expectations of $0.35 by $0.06. The company has achieved a return on equity of 9.88% and a net margin of 7.16%. Analysts forecast that NOV will earn around $1.40 per share in the current year.

About NOV Inc.

NOV Inc. designs, produces, and sells a variety of systems and components for the oil and gas drilling and production sectors, as well as for industrial and renewable energy sectors both domestically and internationally. The company operates through two main segments: Energy Equipment, and Energy Products and Services. Its offerings include solids control and waste management equipment, managed pressure drilling systems, drilling fluids, premium drill pipe, and various drilling-related services and tools.

Trading, Options, Investors