Montgomery Investment Management Inc. Has $285,000 Position in NOW Inc. (NYSE:DNOW)
Montgomery Investment Management Inc. decreased its position in shares of NOW Inc. (NYSE:DNOW) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,770 shares of the oil and gas company’s stock after selling 908 shares during the period. Montgomery Investment Management Inc.’s holdings in NOW were worth $285,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in NOW by 16,819.9% in the first quarter. BlackRock Inc. now owns 11,399,636 shares of the oil and gas company’s stock worth $193,337,000 after buying an additional 11,332,262 shares during the last quarter. Vanguard Group Inc. raised its stake in NOW by 9.2% in the first quarter. Vanguard Group Inc. now owns 8,787,117 shares of the oil and gas company’s stock worth $149,030,000 after buying an additional 739,256 shares during the last quarter. First Eagle Investment Management LLC raised its stake in NOW by 0.8% in the first quarter. First Eagle Investment Management LLC now owns 7,744,218 shares of the oil and gas company’s stock worth $131,342,000 after buying an additional 63,267 shares during the last quarter. Clearbridge Investments LLC raised its stake in NOW by 7.4% in the first quarter. Clearbridge Investments LLC now owns 6,990,717 shares of the oil and gas company’s stock worth $118,563,000 after buying an additional 482,245 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in NOW by 19.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,596,784 shares of the oil and gas company’s stock worth $61,002,000 after buying an additional 578,414 shares during the last quarter. Institutional investors own 99.09% of the company’s stock.
NOW Inc. (NYSE DNOW) opened at 12.58 on Thursday. NOW Inc. has a 52 week low of $12.42 and a 52 week high of $23.53. The firm has a 50-day moving average price of $15.37 and a 200-day moving average price of $17.51. The company’s market capitalization is $1.36 billion.
NOW (NYSE:DNOW) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.10). The business had revenue of $651 million for the quarter, compared to analysts’ expectations of $674.97 million. NOW had a negative return on equity of 7.83% and a negative net margin of 7.14%. The business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period last year, the firm earned ($0.40) earnings per share. Analysts anticipate that NOW Inc. will post ($0.24) EPS for the current fiscal year.
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A number of analysts recently issued reports on DNOW shares. Stifel Nicolaus set a $18.00 price objective on NOW and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Seaport Global Securities lowered NOW from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $22.00 to $17.00 in a research note on Wednesday, June 21st. Zacks Investment Research lowered NOW from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. BidaskClub lowered NOW from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Credit Suisse Group decreased their target price on NOW from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, May 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. NOW presently has an average rating of “Hold” and an average price target of $19.30.
In other NOW news, Director James Crandell purchased 5,000 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were acquired at an average cost of $17.53 per share, with a total value of $87,650.00. Following the completion of the acquisition, the director now directly owns 22,562 shares in the company, valued at $395,511.86. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.30% of the stock is owned by company insiders.
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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