NOW Inc. (NYSE:DNOW) Position Raised by Louisiana State Employees Retirement System
Louisiana State Employees Retirement System boosted its stake in shares of NOW Inc. (NYSE:DNOW) by 3.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,100 shares of the oil and gas company’s stock after buying an additional 1,000 shares during the period. Louisiana State Employees Retirement System’s holdings in NOW were worth $452,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can boosted its position in shares of NOW by 130.2% in the second quarter. Bank of Montreal Can now owns 6,966 shares of the oil and gas company’s stock valued at $112,000 after buying an additional 3,940 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of NOW during the first quarter valued at approximately $127,000. LS Investment Advisors LLC boosted its position in shares of NOW by 18.9% in the second quarter. LS Investment Advisors LLC now owns 8,916 shares of the oil and gas company’s stock valued at $143,000 after buying an additional 1,420 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of NOW by 10.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,717 shares of the oil and gas company’s stock valued at $216,000 after buying an additional 1,219 shares in the last quarter. Finally, Advantus Capital Management Inc boosted 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 in the last quarter. 99.09% of the stock is owned by institutional investors.
Shares of NOW Inc. (NYSE:DNOW) traded down 1.62% during midday trading on Friday, reaching $12.17. 1,059,765 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $15.20 and its 200 day moving average price is $17.40. The firm’s market capitalization is $1.31 billion. NOW Inc. has a one year low of $12.05 and a one year high of $23.53.
NOW (NYSE:DNOW) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). NOW had a negative net margin of 7.14% and a negative return on equity of 7.83%. The business had revenue of $651 million during the quarter, compared to analyst estimates of $674.97 million. During the same period last year, the firm posted ($0.40) EPS. The company’s revenue was up 29.9% on a year-over-year basis. On average, equities research analysts expect that NOW Inc. will post ($0.24) earnings per share for the current fiscal year.
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Several equities research analysts have issued reports on DNOW shares. Robert W. Baird upgraded shares of NOW from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $20.00 to $22.00 in a research report on Wednesday, April 26th. Zacks Investment Research lowered shares of NOW from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Credit Suisse Group set a $15.00 target price on shares of NOW and gave the company a “hold” rating in a research report on Friday, August 4th. KeyCorp reiterated an “overweight” rating and set a $22.00 target price on shares of NOW in a research report on Friday, May 26th. Finally, Seaport Global Securities upgraded shares of NOW from a “neutral” rating to a “buy” rating and lifted their target price for the company from $20.00 to $22.00 in a research report on Thursday, May 4th. 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 an average rating of “Hold” and an average target price of $19.30.
In related news, Director James Crandell acquired 5,000 shares of the business’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 acquisition, the director now directly owns 22,562 shares in the company, valued at approximately $395,511.86. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.30% of the company’s stock.
NOW Company Profile
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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