Insider Buying: NOW Inc. (DNOW) Director Acquires 5,000 Shares of Stock

NOW Inc. (NYSE:DNOW) Director James Crandell bought 5,000 shares of the stock in a transaction dated Thursday, May 25th. The shares were acquired at an average price of $17.53 per share, for a total transaction of $87,650.00. Following the completion of the purchase, the director now directly owns 22,562 shares in the company, valued at $395,511.86. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

NOW Inc. (NYSE:DNOW) opened at 17.23 on Friday. NOW Inc. has a 12-month low of $15.47 and a 12-month high of $23.53. The firm has a 50-day moving average price of $17.37 and a 200-day moving average price of $19.13. The company’s market cap is $1.86 billion.

NOW (NYSE:DNOW) last released its earnings results on Wednesday, May 3rd. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.08. The firm had revenue of $631 million during the quarter, compared to analyst estimates of $605.07 million. NOW had a negative return on equity of 10.27% and a negative net margin of 8.86%. NOW’s revenue was up 15.1% compared to the same quarter last year. During the same period last year, the business posted ($0.35) earnings per share. On average, equities research analysts forecast that NOW Inc. will post ($0.23) earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Elkfork Partners LLC bought a new position in NOW during the fourth quarter worth about $108,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in NOW by 13.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,899 shares of the oil and gas company’s stock worth $121,000 after buying an additional 711 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in NOW during the first quarter worth $127,000. ETRADE Capital Management LLC acquired a new stake in NOW during the third quarter worth $201,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in 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 worth $216,000 after buying an additional 1,219 shares in the last quarter. Hedge funds and other institutional investors own 99.06% of the company’s stock.

Several equities research analysts have recently weighed in on DNOW shares. Credit Suisse Group reiterated a “hold” rating and set a $20.00 price target on shares of NOW in a research report on Friday, February 17th. Zacks Investment Research cut NOW from a “buy” rating to a “hold” rating in a research report on Monday, February 20th. Stephens upgraded NOW from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $24.00 to $23.00 in a research report on Thursday, May 4th. Seaport Global Securities raised NOW from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $20.00 to $22.00 in a report on Thursday, May 4th. Finally, KeyCorp reissued an “overweight” rating and set a $22.00 price objective on shares of NOW in a report on Friday, May 26th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $20.50.

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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