Ameriprise Financial Inc. decreased its stake in NOW Inc (NYSE:DNOW) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,297 shares of the oil and gas company’s stock after selling 14,729 shares during the period. Ameriprise Financial Inc. owned 0.29% of NOW worth $4,285,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in DNOW. Bank of Montreal Can grew its holdings in shares of NOW by 130.2% in the 2nd quarter. Bank of Montreal Can now owns 6,966 shares of the oil and gas company’s stock valued at $112,000 after acquiring an additional 3,940 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of NOW by 4.3% in the 2nd quarter. Great West Life Assurance Co. Can now owns 68,383 shares of the oil and gas company’s stock valued at $1,098,000 after acquiring an additional 2,793 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in NOW by 79.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 983,499 shares of the oil and gas company’s stock worth $15,815,000 after purchasing an additional 435,538 shares during the period. Arizona State Retirement System grew its holdings in NOW by 1.6% during the second quarter. Arizona State Retirement System now owns 45,400 shares of the oil and gas company’s stock worth $730,000 after purchasing an additional 700 shares during the period. Finally, Rhumbline Advisers grew its holdings in NOW by 0.6% during the second quarter. Rhumbline Advisers now owns 229,381 shares of the oil and gas company’s stock worth $3,688,000 after purchasing an additional 1,265 shares during the period. Institutional investors own 96.71% of the company’s stock.
A number of equities analysts recently commented on DNOW shares. Robert W. Baird reiterated a “neutral” rating and set a $15.00 price target (down previously from $20.00) on shares of NOW in a report on Monday, October 9th. UBS Group cut NOW from a “positive” rating to a “neutral” rating in a report on Thursday, November 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $18.00 price target on shares of NOW in a report on Thursday, September 7th. BidaskClub cut NOW from a “buy” rating to a “hold” rating in a report on Saturday, October 7th. Finally, Citigroup cut NOW from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $19.00 to $11.00 in a report on Thursday, November 2nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.65.
NOW (NYSE:DNOW) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. NOW had a negative return on equity of 5.17% and a negative net margin of 4.77%. The company had revenue of $697.00 million during the quarter, compared to analysts’ expectations of $701.29 million. During the same quarter in the previous year, the company posted ($0.34) earnings per share. The business’s revenue was up 34.0% on a year-over-year basis. equities research analysts expect that NOW Inc will post -0.34 EPS for the current year.
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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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