NOW Inc. (DNOW) Shares Sold by Credit Suisse AG
Credit Suisse AG decreased its stake in shares of NOW Inc. (NYSE:DNOW) by 42.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,632 shares of the oil and gas company’s stock after selling 78,041 shares during the period. Credit Suisse AG’s holdings in NOW were worth $1,791,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of DNOW. FMR LLC increased its position in shares of NOW by 274.0% in the fourth quarter. FMR LLC now owns 66,339 shares of the oil and gas company’s stock worth $1,358,000 after buying an additional 48,600 shares during the period. Highbridge Capital Management LLC acquired a new position in shares of NOW during the fourth quarter worth approximately $464,000. Fox Run Management L.L.C. acquired a new position in shares of NOW during the first quarter worth approximately $685,000. CWM LLC increased its position in shares of NOW by 9.9% in the first quarter. CWM LLC now owns 31,800 shares of the oil and gas company’s stock worth $539,000 after buying an additional 2,860 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in shares of NOW by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 27,100 shares of the oil and gas company’s stock worth $460,000 after buying an additional 500 shares during the period. 99.09% of the stock is owned by hedge funds and other institutional investors.
NOW Inc. (NYSE DNOW) traded down 0.97% during trading on Friday, reaching $12.25. 239,904 shares of the company’s stock traded hands. NOW Inc. has a 12-month low of $12.22 and a 12-month high of $23.53. The company’s market cap is $1.32 billion. The company has a 50 day moving average price of $15.29 and a 200-day moving average price of $17.47.
NOW (NYSE:DNOW) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.10). NOW had a negative net margin of 7.14% and a negative return on equity of 7.83%. The business had revenue of $651 million for the quarter, compared to analyst estimates of $674.97 million. During the same period last year, the business earned ($0.40) EPS. The company’s revenue was up 29.9% on a year-over-year basis. On average, equities research analysts forecast that NOW Inc. will post ($0.24) EPS for the current fiscal year.
A number of equities analysts recently commented on DNOW shares. Stifel Nicolaus set a $18.00 price objective on shares of NOW and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Seaport Global Securities downgraded shares of NOW from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $17.00 in a research note on Wednesday, June 21st. Zacks Investment Research downgraded shares of NOW from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. BidaskClub downgraded shares of NOW from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Credit Suisse Group reduced their price objective on shares of NOW from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, May 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. NOW presently has an average rating of “Hold” and an average target price of $19.30.
In related news, Director James Crandell bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were purchased at an average cost of $17.53 per share, with a total value of $87,650.00. Following the transaction, the director now directly owns 22,562 shares of the company’s stock, valued at approximately $395,511.86. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.30% of the company’s stock.
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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