General American Investors Co. Inc. bought a new stake in shares of NOW Inc. (NYSE:DNOW) during the second quarter, Holdings Channel reports. The fund bought 347,929 shares of the oil and gas company’s stock, valued at approximately $5,595,000.

Other hedge funds have also modified their holdings of the company. 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 valued at $193,337,000 after buying an additional 11,332,262 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of NOW by 30.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,162,033 shares of the oil and gas company’s stock valued at $53,626,000 after buying an additional 745,677 shares during the last quarter. 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 valued at $149,030,000 after buying an additional 739,256 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of NOW by 98.2% in the first quarter. JPMorgan Chase & Co. now owns 1,434,114 shares of the oil and gas company’s stock valued at $24,323,000 after buying an additional 710,500 shares during the last quarter. 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 valued at $61,002,000 after buying an additional 578,414 shares during the last quarter. Institutional investors own 99.09% of the company’s stock.

Shares of NOW Inc. (NYSE:DNOW) opened at 12.58 on Thursday. NOW Inc. has a 52-week low of $12.42 and a 52-week high of $23.53. The company’s market cap is $1.36 billion. The company has a 50 day moving average of $15.37 and a 200-day moving average of $17.51.

NOW (NYSE:DNOW) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). The company had revenue of $651 million for the quarter, compared to analyst estimates of $674.97 million. NOW had a negative net margin of 7.14% and a negative return on equity of 7.83%. NOW’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.40) earnings per share. Analysts forecast that NOW Inc. will post ($0.24) EPS for the current fiscal year.

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Several analysts have commented on DNOW shares. Seaport Global Securities cut shares of NOW from a “buy” rating to a “neutral” rating and dropped their target price for the company from $22.00 to $17.00 in a research report on Wednesday, June 21st. Credit Suisse Group dropped their target price on shares of NOW from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, May 15th. Stephens upgraded shares of NOW from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $24.00 to $23.00 in a research report on Thursday, May 4th. Zacks Investment Research upgraded shares of NOW from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Tuesday, April 18th. Finally, Robert W. Baird upgraded shares of NOW from a “neutral” rating to an “outperform” rating and upped their target price for the company from $20.00 to $22.00 in a research report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. NOW has a consensus rating of “Hold” and a consensus target price of $19.30.

In other NOW news, Director James Crandell purchased 5,000 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were bought at an average price of $17.53 per share, for a total transaction of $87,650.00. Following the completion of the acquisition, the director now owns 22,562 shares in the company, valued at $395,511.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is currently owned by 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.

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Institutional Ownership by Quarter for NOW (NYSE:DNOW)

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