NOW Inc. (NYSE:DNOW) Shares Bought by Prudential Financial Inc.
Prudential Financial Inc. raised its position in shares of NOW Inc. (NYSE:DNOW) by 6.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 70,547 shares of the oil and gas company’s stock after buying an additional 4,040 shares during the period. Prudential Financial Inc. owned about 0.07% of NOW worth $1,196,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of DNOW. Ladenburg Thalmann Financial Services Inc. raised 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 worth $121,000 after buying an additional 711 shares during the period. Reliance Trust Co. of Delaware bought a new stake in shares of NOW during the first quarter worth about $251,000. SeaBridge Investment Advisors LLC raised its stake in NOW by 94.9% in the first quarter. SeaBridge Investment Advisors LLC now owns 14,952 shares of the oil and gas company’s stock valued at $254,000 after buying an additional 7,280 shares during the last quarter. Credit Agricole S A acquired a new stake in NOW during the fourth quarter valued at $276,000. Finally, Thrivent Financial for Lutherans raised its stake in NOW by 9.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 18,390 shares of the oil and gas company’s stock valued at $376,000 after buying an additional 1,550 shares during the last quarter. 99.09% of the stock is currently owned by institutional investors and hedge funds.
NOW Inc. (DNOW) traded down 1.15% during midday trading on Tuesday, hitting $12.93. The stock had a trading volume of 1,207,391 shares. The firm’s market capitalization is $1.39 billion. NOW Inc. has a 1-year low of $12.80 and a 1-year high of $23.53. The firm has a 50-day moving average price of $15.74 and a 200-day moving average price of $17.72.
NOW (NYSE:DNOW) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.10). The company had revenue of $651 million during the quarter, compared to analysts’ expectations of $674.97 million. NOW had a negative return on equity of 7.83% and a negative net margin of 7.14%. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.40) earnings per share. On average, equities research analysts anticipate that NOW Inc. will post ($0.24) earnings per share for the current year.
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DNOW has been the subject of several recent research reports. 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 report on Wednesday, June 21st. Credit Suisse Group cut their price target on shares of NOW from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Monday, May 15th. Zacks Investment Research raised shares of NOW from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Tuesday, April 18th. Stephens raised shares of NOW from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $24.00 to $23.00 in a research note on Thursday, May 4th. Finally, Robert W. Baird raised shares of NOW from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $20.00 to $22.00 in a research note on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $19.30.
In other NOW news, Director James Crandell acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was bought at an average price of $17.53 per share, with a total value of $87,650.00. Following the completion of the purchase, the director now owns 22,562 shares of the company’s stock, valued at $395,511.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.30% of the stock is currently owned by company 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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