NOW Inc. (DNOW) Stake Lessened by Comerica Bank
Comerica Bank reduced its position in shares of NOW Inc. (NYSE:DNOW) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,887 shares of the oil and gas company’s stock after selling 782 shares during the quarter. Comerica Bank owned 0.08% of NOW worth $1,332,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP boosted its stake in shares of NOW by 591.2% during the 1st quarter. Quantbot Technologies LP now owns 34,125 shares of the oil and gas company’s stock worth $578,000 after acquiring an additional 29,188 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of NOW by 35.3% during the 1st quarter. Russell Investments Group Ltd. now owns 496,547 shares of the oil and gas company’s stock worth $8,422,000 after acquiring an additional 129,621 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of NOW by 9.2% during the 1st 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of NOW by 30.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,162,033 shares of the oil and gas company’s stock worth $53,626,000 after acquiring an additional 745,677 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of NOW by 1.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 37,640 shares of the oil and gas company’s stock worth $638,000 after acquiring an additional 500 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.
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Several equities research analysts have recently issued reports on DNOW shares. KeyCorp reissued an “overweight” rating and set a $22.00 target price on shares of NOW in a research note on Friday, May 26th. Stifel Nicolaus started coverage on shares of NOW in a research note on Tuesday, June 6th. They set a “buy” rating and a $21.00 target price on the stock. Seaport Global Securities lowered shares of NOW from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $22.00 to $17.00 in a research note on Wednesday, June 21st. Zacks Investment Research lowered shares of NOW from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Finally, BidaskClub lowered shares of NOW from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $19.10.
NOW Inc. (DNOW) opened at 12.62 on Friday. The company’s 50 day moving average is $12.55 and its 200 day moving average is $15.81. The firm’s market cap is $1.36 billion. NOW Inc. has a 52-week low of $11.31 and a 52-week high of $23.53.
NOW (NYSE:DNOW) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). The firm had revenue of $651.00 million for the quarter, compared to the consensus estimate of $674.97 million. NOW had a negative net margin of 7.14% and a negative return on equity of 7.83%. The firm’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.40) earnings per share. Equities research analysts forecast that NOW Inc. will post ($0.24) EPS for the current fiscal year.
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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