Investors Buy Large Volume of NOV Put Options (NYSE:NOV)

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NOV shares. The Goldman Sachs Group increased their price target on shares of NOV from $17.00 to $20.00 and gave the stock a “sell” rating in a report on Wednesday, March 4th. Susquehanna boosted their target price on NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. TD Cowen upgraded NOV from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 29th. BMO Capital Markets lifted their target price on shares of NOV from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Monday, February 9th. Finally, Evercore upgraded shares of NOV to a “hold” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.36.

NOV Trading Up 0.7%

NYSE NOV opened at $20.64 on Friday. NOV has a 1-year low of $11.65 and a 1-year high of $20.93. The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $19.40 and a 200-day moving average of $17.83. The firm has a market cap of $7.41 billion, a PE ratio of 85.99 and a beta of 0.92.

NOV (NYSE:NOV) last released its earnings results on Monday, April 27th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. NOV had a net margin of 1.05% and a return on equity of 3.34%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $0.19 EPS. As a group, sell-side analysts forecast that NOV will post 0.93 EPS for the current year.

NOV Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, March 13th. This is an increase from NOV’s previous quarterly dividend of $0.08. NOV’s dividend payout ratio is currently 150.00%.

Trending Headlines about NOV

Here are the key news stories impacting NOV this week:

• Positive Sentiment: Peer company NOVA Measuring Instruments reported stronger-than-expected Q1 2026 results, beating both earnings and revenue estimates, which can help support sentiment across industrial and technology-adjacent names, including NOV. NOVA Measuring Instruments Releases Q1 2026 Earnings
• Neutral Sentiment: NOV was the target of unusually large options activity, with traders buying 2,616 put options versus a typical 180, suggesting elevated concern or hedging ahead of potential volatility rather than a clear fundamental change.
• Neutral Sentiment: Recent institutional and analyst activity in the broader industrial/measurement space was mixed, with some large funds adding shares and others reducing exposure; this does not point to a clear new catalyst for NOV itself.

Insiders Place Their Bets

In related news, VP Craig L. Weinstock sold 70,000 shares of NOV stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $20.08, for a total value of $1,405,600.00. Following the completion of the sale, the vice president owned 256,319 shares of the company’s stock, valued at approximately $5,146,885.52. This trade represents a 21.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph W. Rovig sold 151,086 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $20.17, for a total transaction of $3,047,404.62. Following the sale, the insider directly owned 269,694 shares in the company, valued at $5,439,727.98. The trade was a 35.91% decrease in their position. The SEC filing for this sale provides additional information. 1.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NOV

A number of large investors have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new stake in NOV in the fourth quarter worth about $28,000. Root Financial Partners LLC grew its holdings in NOV by 39.9% in the first quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock worth $36,000 after purchasing an additional 552 shares during the period. Summit Securities Group LLC purchased a new stake in NOV in the first quarter worth about $40,000. CIBC Private Wealth Group LLC increased its holdings in shares of NOV by 659.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock valued at $36,000 after acquiring an additional 1,978 shares in the last quarter. Finally, Rothschild Investment LLC increased its holdings in shares of NOV by 50.1% during the fourth quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock valued at $37,000 after acquiring an additional 780 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

About NOV

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.