Fmr LLC continued to hold its stake in NOW Inc. (NYSE:DNOW) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,039 shares of the oil and gas company’s stock at the end of the second quarter. Fmr LLC’s holdings in NOW were worth $306,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of DNOW. Teachers Advisors LLC lifted its position in shares of NOW by 2.6% during the 1st quarter. Teachers Advisors LLC now owns 191,438 shares of the oil and gas company’s stock valued at $3,247,000 after buying an additional 4,784 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in shares of NOW by 9.7% during the 1st quarter. Thrivent Financial For Lutherans now owns 20,180 shares of the oil and gas company’s stock valued at $342,000 after buying an additional 1,790 shares during the last quarter. Vanguard Group Inc. lifted its position 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 valued at $149,030,000 after buying an additional 739,256 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of NOW by 6.1% during the 1st quarter. Geode Capital Management LLC now owns 823,822 shares of the oil and gas company’s stock valued at $13,971,000 after buying an additional 47,171 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of NOW by 16,819.9% during the 1st 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. 96.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NOW Inc. (NYSE DNOW) opened at $10.70 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.72 and a quick ratio of 1.39. NOW Inc. has a 1-year low of $10.54 and a 1-year high of $23.53.
NOW (NYSE:DNOW) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $697.00 million for the quarter, compared to analysts’ expectations of $701.29 million. NOW had a negative return on equity of 5.17% and a negative net margin of 4.77%. The firm’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.34) EPS. equities analysts predict that NOW Inc. will post -0.32 earnings per share for the current year.
DNOW has been the topic of a number of recent research reports. Zacks Investment Research cut NOW from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. BidaskClub cut NOW from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $18.00 price target on shares of NOW in a research report on Thursday, September 7th. Credit Suisse Group set a $15.00 price target on NOW and gave the company a “hold” rating in a research report on Friday, August 4th. Finally, Cowen and Company set a $14.00 price objective on NOW and gave the stock a “hold” rating in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $16.20.
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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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