Baillie Gifford & Co. Buys 1,021,596 Shares of NOW Inc (DNOW)
Baillie Gifford & Co. raised its stake in shares of NOW Inc (NYSE:DNOW) by 7.0% during the fourth quarter, HoldingsChannel reports. The firm owned 15,691,496 shares of the oil and gas company’s stock after buying an additional 1,021,596 shares during the period. Baillie Gifford & Co. owned about 0.14% of NOW worth $182,649,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of NOW by 16.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 7,739,494 shares of the oil and gas company’s stock valued at $128,089,000 after acquiring an additional 1,103,324 shares during the last quarter. Deutsche Bank AG raised its position in shares of NOW by 87.0% during the 3rd quarter. Deutsche Bank AG now owns 1,667,595 shares of the oil and gas company’s stock valued at $27,596,000 after acquiring an additional 775,836 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of NOW by 1,090.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 501,882 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 459,739 shares during the period. BlackRock Inc. grew its holdings in shares of NOW by 3.0% in the 4th quarter. BlackRock Inc. now owns 12,240,848 shares of the oil and gas company’s stock valued at $142,486,000 after buying an additional 357,923 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of NOW by 91.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 670,933 shares of the oil and gas company’s stock valued at $11,103,000 after buying an additional 320,212 shares during the period.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of NOW from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Tuesday, January 15th. Stifel Nicolaus lowered shares of NOW from a “buy” rating to a “hold” rating and decreased their price target for the company from $17.00 to $13.00 in a report on Wednesday, December 19th. Finally, ValuEngine raised shares of NOW from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Seven investment analysts have rated the stock with a hold rating, NOW currently has a consensus rating of “Hold” and a consensus price target of $15.40.
NOW (NYSE:DNOW) last announced its earnings results on Thursday, February 14th. The oil and gas company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.04. The firm had revenue of $764.00 million during the quarter, compared to analyst estimates of $772.87 million. NOW had a net margin of 1.66% and a return on equity of 3.24%. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 EPS. Equities research analysts forecast that NOW Inc will post 0.43 EPS for the current year.
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NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, instrumentations, artificial lift, pumping solutions, valve actuation and modular process, measurement and control equipment, process equipment, pumps, OEM parts, coatings, mill supplies, and safety supplies, as well as provides application systems, work processes, parts integration, optimization solutions, and after-sales support services.
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