NOW Inc. (DNOW) Shares Sold by Shufro Rose & Co. LLC
Shufro Rose & Co. LLC lowered its position in NOW Inc. (NYSE:DNOW) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 145,935 shares of the oil and gas company’s stock after selling 310 shares during the period. Shufro Rose & Co. LLC’s holdings in NOW were worth $2,347,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted 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 worth $112,000 after buying an additional 3,940 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of NOW during the first quarter worth about $127,000. LS Investment Advisors LLC boosted 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 worth $143,000 after buying an additional 1,420 shares during the last quarter. Independent Order of Foresters boosted its stake in shares of NOW by 15.8% in the second quarter. Independent Order of Foresters now owns 11,166 shares of the oil and gas company’s stock worth $180,000 after buying an additional 1,520 shares during the last quarter. Finally, ING Groep NV acquired a new stake in shares of NOW during the second quarter worth about $211,000. 99.76% of the stock is owned by hedge funds and other institutional investors.
NOW Inc. (DNOW) opened at 12.23 on Tuesday. The firm’s 50-day moving average price is $15.11 and its 200 day moving average price is $17.26. The firm’s market cap is $1.32 billion. NOW Inc. has a 52 week low of $12.05 and a 52 week high of $23.53.
NOW (NYSE:DNOW) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.10). The firm 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%. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.40) EPS. Equities analysts forecast that NOW Inc. will post ($0.24) earnings per share for the current fiscal year.
DNOW has been the subject of a number of recent research reports. Zacks Investment Research raised shares of NOW from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Tuesday, April 18th. Credit Suisse Group set a $15.00 target price on shares of NOW and gave the company a “hold” rating in a research report on Friday, August 4th. Stifel Nicolaus reissued a “buy” rating on shares of NOW in a research report on Friday, July 14th. Stephens raised shares of NOW from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $24.00 to $23.00 in a research report on Thursday, May 4th. Finally, Seaport Global Securities raised shares of NOW from a “neutral” rating to a “buy” rating and boosted their target price for the company from $20.00 to $22.00 in a research report on Thursday, May 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $19.30.
In other NOW news, Director James Crandell purchased 5,000 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was purchased at an average price of $17.53 per share, for a total transaction of $87,650.00. Following the transaction, the director now owns 22,562 shares in the company, valued at approximately $395,511.86. The transaction was disclosed in a document filed with the SEC, which is accessible through 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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