NOW Inc. (DNOW) Shares Bought by NGAM Advisors L.P.
NGAM Advisors L.P. raised its stake in shares of NOW Inc. (NYSE:DNOW) by 22.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 145,032 shares of the oil and gas company’s stock after buying an additional 26,681 shares during the period. NGAM Advisors L.P.’s holdings in NOW were worth $2,332,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the stock. Bank of Montreal Can raised its stake 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 valued at $112,000 after buying an additional 3,940 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of NOW during the first quarter valued at about $127,000. LS Investment Advisors LLC raised its stake in shares of NOW by 18.9% in the second quarter. LS Investment Advisors LLC now owns 8,916 shares of the oil and gas company’s stock valued at $143,000 after buying an additional 1,420 shares in the last quarter. ING Groep NV purchased a new stake in shares of NOW during the second quarter valued at about $211,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake 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 valued at $216,000 after buying an additional 1,219 shares in the last quarter. 99.09% of the stock is currently owned by institutional investors.
Shares of NOW Inc. (NYSE DNOW) opened at 12.17 on Friday. The firm’s market capitalization is $1.31 billion. NOW Inc. has a 12-month low of $12.05 and a 12-month high of $23.53. The company has a 50-day moving average price of $15.20 and a 200 day moving average price of $17.40.
NOW (NYSE:DNOW) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.10). The business had revenue of $651 million during the quarter, compared to the consensus estimate of $674.97 million. NOW had a negative return on equity of 7.83% and a negative net margin of 7.14%. NOW’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period last year, the company earned ($0.40) earnings per share. Equities research analysts expect that NOW Inc. will post ($0.24) earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on the company. Stifel Nicolaus set a $18.00 price target on NOW and gave the company a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded NOW from a “sell” rating to a “hold” rating in a report on Monday, July 31st. BidaskClub lowered NOW from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Credit Suisse Group set a $15.00 price target on NOW and gave the company a “hold” rating in a report on Friday, August 4th. Finally, KeyCorp reiterated an “overweight” rating and set a $22.00 price target on shares of NOW in a report on Friday, May 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. NOW has an average rating of “Hold” and a consensus price target of $19.30.
In related news, Director James Crandell purchased 5,000 shares of NOW stock in a transaction that occurred on Thursday, May 25th. The stock was purchased at an average cost of $17.53 per share, with a total value of $87,650.00. Following the completion of the transaction, the director now owns 22,562 shares of the company’s stock, valued at approximately $395,511.86. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.30% of the company’s stock.
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.
Want to see what other hedge funds are holding DNOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NOW Inc. (NYSE:DNOW).
Receive News & Ratings for NOW Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NOW Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.