Vanguard Group Inc Buys 205,774 Shares of NOW Inc (DNOW)

Vanguard Group Inc boosted its stake in shares of NOW Inc (NYSE:DNOW) by 2.1% in the 3rd quarter, Holdings Channel reports. The firm owned 9,800,705 shares of the oil and gas company’s stock after buying an additional 205,774 shares during the quarter. Vanguard Group Inc owned 0.09% of NOW worth $162,201,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hennessy Advisors Inc. acquired a new position in NOW during the third quarter valued at approximately $27,284,000. BlackRock Inc. boosted its position in NOW by 3.8% during the second quarter. BlackRock Inc. now owns 11,741,100 shares of the oil and gas company’s stock valued at $156,509,000 after purchasing an additional 425,281 shares during the last quarter. Global X Management Co LLC boosted its position in NOW by 19.1% during the second quarter. Global X Management Co LLC now owns 27,531 shares of the oil and gas company’s stock valued at $367,000 after purchasing an additional 4,410 shares during the last quarter. Millennium Management LLC acquired a new position in NOW during the second quarter valued at approximately $15,382,000. Finally, WINTON GROUP Ltd boosted its position in NOW by 218.6% during the third quarter. WINTON GROUP Ltd now owns 669,391 shares of the oil and gas company’s stock valued at $11,078,000 after purchasing an additional 459,286 shares during the last quarter.

NYSE:DNOW opened at $13.27 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.44 and a current ratio of 2.72. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 49.07 and a beta of 1.29. NOW Inc has a 12-month low of $9.12 and a 12-month high of $18.56.

NOW (NYSE:DNOW) last released its quarterly earnings data on Thursday, November 1st. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The firm had revenue of $822.00 million for the quarter, compared to analyst estimates of $805.80 million. NOW had a return on equity of 2.43% and a net margin of 1.09%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.03) earnings per share. Equities research analysts predict that NOW Inc will post 0.33 EPS for the current fiscal year.

Several research analysts recently commented on the company. Zacks Investment Research cut NOW from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. ValuEngine raised NOW from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Cowen assumed coverage on NOW in a research report on Saturday, October 13th. They set a “hold” rating and a $17.00 price target for the company. Robert W. Baird reduced their price target on NOW from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Friday, November 2nd. Finally, Stifel Nicolaus lowered NOW from a “buy” rating to a “hold” rating and dropped their price objective for the company from $17.00 to $13.00 in a research note on Wednesday, December 19th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $14.22.

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NOW Profile

NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, instrumentations, artificial lift, pumping solutions, valve actuation and modular process, measurement and control equipment, process equipment, pumps, OEM parts, coatings, mill supplies, and safety supplies, as well as provides application systems, work processes, parts integration, optimization solutions, and after-sales support services.

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Institutional Ownership by Quarter for NOW (NYSE:DNOW)

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