State Treasurer State of Michigan boosted its position in shares of NOW Inc. (NYSE:DNOW) by 1.8% during the second quarter, Holdings Channel reports. The firm owned 44,427 shares of the oil and gas company’s stock after buying an additional 800 shares during the period. State Treasurer State of Michigan’s holdings in NOW were worth $714,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DNOW. Meeder Asset Management Inc. raised its position in shares of NOW by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 37,569 shares of the oil and gas company’s stock valued at $604,000 after buying an additional 208 shares during the period. Advantus Capital Management Inc raised its position in shares of NOW by 3.0% in the first quarter. Advantus Capital Management Inc now owns 13,760 shares of the oil and gas company’s stock valued at $233,000 after buying an additional 403 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of NOW by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 37,640 shares of the oil and gas company’s stock valued at $638,000 after buying an additional 500 shares during the period. Louisiana State Employees Retirement System raised its position in shares of NOW by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 27,100 shares of the oil and gas company’s stock valued at $460,000 after buying an additional 500 shares during the period. Finally, Mason Street Advisors LLC raised its position in shares of NOW by 1.2% in the first quarter. Mason Street Advisors LLC now owns 50,773 shares of the oil and gas company’s stock valued at $861,000 after buying an additional 613 shares during the period. Hedge funds and other institutional investors own 99.09% of the company’s stock.

NOW Inc. (NYSE:DNOW) traded down 0.56% during mid-day trading on Thursday, reaching $12.51. 548,755 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $15.37 and a 200-day moving average price of $17.51. NOW Inc. has a 12-month low of $12.31 and a 12-month high of $23.53. The stock’s market capitalization is $1.35 billion.

NOW (NYSE:DNOW) last posted its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.10). NOW had a negative net margin of 7.14% and a negative return on equity of 7.83%. The company had revenue of $651 million during the quarter, compared to analysts’ expectations of $674.97 million. During the same period last year, the company posted ($0.40) earnings per share. NOW’s quarterly revenue was up 29.9% on a year-over-year basis. Equities research analysts expect that NOW Inc. will post ($0.24) EPS for the current year.

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DNOW has been the subject of several research reports. Stifel Nicolaus reiterated a “buy” rating on shares of NOW in a research report on Friday, July 14th. 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. Seaport Global Securities upgraded shares of NOW from a “neutral” rating to a “buy” rating and upped their target price for the stock from $20.00 to $22.00 in a research report on Thursday, May 4th. BidaskClub lowered shares of NOW from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Credit Suisse Group set a $15.00 target price on shares of NOW and gave the stock a “hold” rating in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. NOW currently has an average rating of “Hold” and an average price target of $19.30.

In other NOW news, Director James Crandell acquired 5,000 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was acquired at an average cost of $17.53 per share, with a total value of $87,650.00. Following the purchase, the director now directly owns 22,562 shares of the company’s stock, valued at approximately $395,511.86. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.30% of the company’s stock.

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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