Acadian Asset Management LLC cut its position in NOW Inc. (NYSE:DNOW) by 55.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 93,602 shares of the oil and gas company’s stock after selling 117,954 shares during the period. Acadian Asset Management LLC’s holdings in NOW were worth $1,505,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of NOW by 16,819.9% in the first quarter. BlackRock Inc. now owns 11,399,636 shares of the oil and gas company’s stock worth $193,337,000 after buying an additional 11,332,262 shares during the period. Vanguard Group Inc. boosted its stake in shares of NOW by 9.2% in the first quarter. Vanguard Group Inc. now owns 8,787,117 shares of the oil and gas company’s stock worth $149,030,000 after buying an additional 739,256 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of NOW by 0.8% in the first quarter. First Eagle Investment Management LLC now owns 7,744,218 shares of the oil and gas company’s stock worth $131,342,000 after buying an additional 63,267 shares during the period. Clearbridge Investments LLC boosted its stake in shares of NOW by 7.4% in the first quarter. Clearbridge Investments LLC now owns 6,990,717 shares of the oil and gas company’s stock worth $118,563,000 after buying an additional 482,245 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of NOW by 19.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,596,784 shares of the oil and gas company’s stock worth $61,002,000 after buying an additional 578,414 shares during the period. 99.09% of the stock is owned by institutional investors.

Shares of NOW Inc. (DNOW) traded down 2.01% on Wednesday, reaching $12.67. 857,469 shares of the company’s stock traded hands. The stock has a 50-day moving average of $15.74 and a 200 day moving average of $17.72. NOW Inc. has a 12-month low of $12.42 and a 12-month high of $23.53. The firm’s market cap is $1.36 billion.

NOW (NYSE:DNOW) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share for the quarter, hitting the consensus estimate of ($0.10). NOW had a negative return on equity of 7.83% and a negative net margin of 7.14%. The business had revenue of $651 million during the quarter, compared to the consensus estimate of $674.97 million. During the same period last year, the company earned ($0.40) earnings per share. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, equities research analysts expect that NOW Inc. will post ($0.24) earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Acadian Asset Management LLC Cuts Stake in NOW Inc. (NYSE:DNOW)” was originally reported by Daily Political and is owned by of Daily Political. If you are reading this story on another website, it was illegally copied and republished in violation of US and international trademark & copyright legislation. The correct version of this story can be read at https://www.dailypolitical.com/2017/08/09/acadian-asset-management-llc-cuts-stake-in-now-inc-nysednow.html.

A number of equities research analysts have recently issued reports on DNOW shares. Stifel Nicolaus set a $18.00 price objective on shares of NOW and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Seaport Global Securities cut shares of NOW from a “buy” rating to a “neutral” rating and cut their price objective for the company from $22.00 to $17.00 in a research note on Wednesday, June 21st. Zacks Investment Research cut shares of NOW from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. BidaskClub cut shares of NOW from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Credit Suisse Group cut their price objective on shares of NOW from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $19.30.

In other NOW news, Director James Crandell bought 5,000 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was acquired at an average cost of $17.53 per share, for a total transaction of $87,650.00. Following the completion of the transaction, the director now owns 22,562 shares in the company, valued at $395,511.86. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 3.30% of the stock is currently owned by company insiders.

About NOW

NOW Inc (NOW) is a global distributor to the oil and gas and industrial markets. The Company operates under the DistributionNOW and Wilson Export brands. Its segments include the United States, Canada and International. As of December 31, 2016, its segments, the United States, Canada and International, had over 200, 55 and 35 locations, respectively.

Want to see what other hedge funds are holding DNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NOW Inc. (NYSE:DNOW).

Institutional Ownership by Quarter for NOW (NYSE:DNOW)

Receive News & Ratings for NOW Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NOW Inc. and related companies with MarketBeat.com's FREE daily email newsletter.