NOW Inc. (DNOW) Holdings Reduced by Tweedy Browne Co. LLC
Tweedy Browne Co. LLC decreased its position in shares of NOW Inc. (NYSE:DNOW) by 0.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,181 shares of the oil and gas company’s stock after selling 46 shares during the period. Tweedy Browne Co. LLC’s holdings in NOW were worth $807,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DNOW. Oregon Public Employees Retirement Fund raised its stake in NOW by 1.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 37,640 shares of the oil and gas company’s stock worth $638,000 after acquiring an additional 500 shares during the period. State Treasurer State of Michigan raised its stake in NOW by 0.9% during the 1st quarter. State Treasurer State of Michigan now owns 43,627 shares of the oil and gas company’s stock worth $740,000 after acquiring an additional 400 shares during the period. Comerica Bank raised its stake in NOW by 4.6% during the 1st quarter. Comerica Bank now owns 84,669 shares of the oil and gas company’s stock worth $1,445,000 after acquiring an additional 3,704 shares during the period. UBS Asset Management Americas Inc. raised its stake in NOW by 15.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 80,536 shares of the oil and gas company’s stock worth $1,366,000 after acquiring an additional 11,030 shares during the period. Finally, Karp Capital Management Corp bought a new stake in NOW during the 1st quarter worth approximately $593,000. Institutional investors own 99.97% of the company’s stock.
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Shares of NOW Inc. (NYSE:DNOW) traded up 0.08% during midday trading on Friday, reaching $12.99. 1,454,546 shares of the company’s stock were exchanged. NOW Inc. has a one year low of $11.31 and a one year high of $23.53. The company’s 50-day moving average is $12.36 and its 200-day moving average is $15.67. The stock’s market cap is $1.40 billion.
NOW (NYSE:DNOW) last announced its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.10). The business had revenue of $651.00 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 business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.40) EPS. Equities analysts expect that NOW Inc. will post ($0.24) earnings per share for the current fiscal year.
A number of research firms have commented on DNOW. Stifel Nicolaus set a $18.00 target price on shares of NOW and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. BidaskClub cut shares of NOW from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Seaport Global Securities cut shares of NOW from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $17.00 in a research note on Wednesday, June 21st. J P Morgan Chase & Co decreased their target price on shares of NOW from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 12th. Finally, KeyCorp restated an “overweight” rating and set a $22.00 target price on shares of NOW in a research note on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $19.10.
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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