Asset Management Advisors LLC Reduces Stake in NOW Inc. (DNOW)
Asset Management Advisors LLC cut its stake in NOW Inc. (NYSE:DNOW) by 45.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,390 shares of the oil and gas company’s stock after selling 73,069 shares during the quarter. NOW makes up 1.2% of Asset Management Advisors LLC’s portfolio, making the stock its 20th biggest holding. Asset Management Advisors LLC owned 0.08% of NOW worth $1,389,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. increased its stake in shares of NOW by 1.9% in the second quarter. Baillie Gifford & Co. now owns 13,065,945 shares of the oil and gas company’s stock worth $210,101,000 after acquiring an additional 242,805 shares during the last quarter. BlackRock Inc. increased 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 acquiring an additional 11,332,262 shares during the last quarter. Vanguard Group Inc. increased 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 acquiring an additional 739,256 shares during the last quarter. Clearbridge Investments LLC increased 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 acquiring an additional 482,245 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased 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 acquiring an additional 578,414 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on DNOW shares. Seaport Global Securities downgraded shares of NOW from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $17.00 in a research note on Wednesday, June 21st. Credit Suisse Group dropped their price target on shares of NOW from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, May 15th. Zacks Investment Research downgraded shares of NOW from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. KeyCorp reaffirmed an “overweight” rating and issued a $22.00 price target on shares of NOW in a research note on Friday, May 26th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of NOW in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.30.
NOW Inc. (NYSE DNOW) traded up 3.179% during trading on Monday, reaching $12.495. 288,384 shares of the company’s stock traded hands. NOW Inc. has a 12 month low of $11.31 and a 12 month high of $23.53. The firm’s market cap is $1.35 billion. The firm has a 50 day moving average price of $12.94 and a 200-day moving average price of $16.01.
NOW (NYSE:DNOW) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). NOW had a negative net margin of 7.14% and a negative return on equity of 7.83%. The firm had revenue of $651 million for the quarter, compared to analyst estimates of $674.97 million. During the same period in the previous year, the business earned ($0.40) EPS. The company’s revenue was up 29.9% compared to the same quarter last year. On average, analysts forecast that NOW Inc. will post ($0.24) earnings per share for the current fiscal year.
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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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