Meeder Asset Management Inc. boosted its position in NOW Inc. (NYSE:DNOW) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,569 shares of the oil and gas company’s stock after buying an additional 208 shares during the period. Meeder Asset Management Inc.’s holdings in NOW were worth $604,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can raised 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 worth $112,000 after buying an additional 3,940 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of 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. purchased a new position in shares of NOW during the first quarter worth approximately $127,000. Cambridge Investment Research Advisors Inc. raised 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 worth $216,000 after buying an additional 1,219 shares in the last quarter. Finally, Advantus Capital Management Inc raised 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 worth $233,000 after buying an additional 403 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.
Shares of NOW Inc. (NYSE:DNOW) opened at 16.57 on Thursday. The company’s 50 day moving average is $16.39 and its 200-day moving average is $18.13. NOW Inc. has a 12 month low of $14.96 and a 12 month high of $23.53. The company’s market cap is $1.78 billion.
NOW (NYSE:DNOW) last announced its earnings results on Wednesday, May 3rd. The oil and gas company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.08. The business had revenue of $631 million during the quarter, compared to analysts’ expectations of $605.07 million. NOW had a negative return on equity of 10.27% and a negative net margin of 8.86%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.35) earnings per share. Analysts expect that NOW Inc. will post ($0.25) EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of NOW in a research note on Tuesday, June 6th. They issued a “buy” rating and a $21.00 target price on the stock. Cowen and Company cut their target price on shares of NOW from $22.00 to $19.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 11th. Seaport Global Securities lowered shares of NOW from a “buy” rating to a “neutral” rating and cut their target price for the company from $22.00 to $17.00 in a research note on Wednesday, June 21st. KeyCorp restated an “overweight” rating and issued a $22.00 target price on shares of NOW in a research note on Friday, May 26th. Finally, Robert W. Baird upgraded shares of NOW from a “neutral” rating to an “outperform” rating and upped their target price for the company from $20.00 to $22.00 in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. NOW presently has a consensus rating of “Hold” and an average target price of $20.00.
In related news, Director James Crandell purchased 5,000 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was acquired at an average cost of $17.53 per share, for a total transaction of $87,650.00. Following the completion of the transaction, the director now directly owns 22,562 shares of the company’s stock, valued at $395,511.86. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.30% of the stock is owned by corporate insiders.
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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