Cwm LLC Has $554,000 Position in NOW Inc. (NYSE:DNOW)
Cwm LLC increased its stake in shares of NOW Inc. (NYSE:DNOW) by 8.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,473 shares of the oil and gas company’s stock after buying an additional 2,673 shares during the period. Cwm LLC’s holdings in NOW were worth $554,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of DNOW. 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 valued at $112,000 after buying an additional 3,940 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of NOW by 13.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,899 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 711 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of NOW during the first quarter valued at about $127,000. Cambridge Investment Research Advisors Inc. boosted 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 during the last quarter. Finally, Advantus Capital Management Inc boosted its stake in shares of NOW by 3.0% in the first quarter. Advantus Capital Management Inc now owns 13,760 shares of the oil and gas company’s stock valued at $233,000 after buying an additional 403 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.
NOW Inc. (NYSE:DNOW) traded up 0.37% during trading on Wednesday, reaching $16.13. The company had a trading volume of 24,946 shares. NOW Inc. has a 12 month low of $14.96 and a 12 month high of $23.53. The firm’s 50 day moving average is $16.39 and its 200-day moving average is $18.15. The company’s market capitalization is $1.74 billion.
NOW (NYSE:DNOW) last announced its quarterly earnings data on Wednesday, May 3rd. The oil and gas company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.08. The business had revenue of $631 million during the quarter, compared to the consensus estimate of $605.07 million. NOW had a negative return on equity of 10.27% and a negative net margin of 8.86%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.35) earnings per share. On average, equities analysts expect that NOW Inc. will post ($0.25) earnings per share for the current year.
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DNOW has been the subject of several analyst reports. Stifel Nicolaus restated a “buy” rating on shares of NOW in a report on Friday, July 14th. Seaport Global Securities raised NOW from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $22.00 in a research note on Thursday, May 4th. Zacks Investment Research raised NOW from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, April 18th. Cowen and Company decreased their price target on NOW from $22.00 to $19.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 11th. Finally, Credit Suisse Group decreased their price target on NOW from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, May 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $20.00.
In other NOW news, Director James Crandell acquired 5,000 shares of the stock in a transaction dated Thursday, May 25th. The stock was acquired at an average price of $17.53 per share, with a total value of $87,650.00. Following the completion of the transaction, the director now directly owns 22,562 shares in the company, valued at $395,511.86. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.30% of the stock is owned by insiders.
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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