NOW Inc (DNOW) Holdings Decreased by GSA Capital Partners LLP
GSA Capital Partners LLP lessened its stake in NOW Inc (NYSE:DNOW) by 15.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,479 shares of the oil and gas company’s stock after selling 11,634 shares during the quarter. GSA Capital Partners LLP owned approximately 0.06% of NOW worth $863,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in DNOW. Shell Asset Management Co. purchased a new stake in NOW during the third quarter valued at $137,000. Bank of Montreal Can raised its stake in NOW by 130.2% during 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 purchasing an additional 3,940 shares in the last quarter. Riverhead Capital Management LLC raised its stake in NOW by 70.0% during the second quarter. Riverhead Capital Management LLC now owns 7,990 shares of the oil and gas company’s stock valued at $128,000 after purchasing an additional 3,290 shares in the last quarter. HighTower Advisors LLC purchased a new stake in NOW during the second quarter valued at $170,000. Finally, Global Endowment Management LP raised its stake in shares of NOW by 5.7% in the second quarter. Global Endowment Management LP now owns 11,180 shares of the oil and gas company’s stock valued at $180,000 after acquiring an additional 600 shares during the period. 96.71% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on DNOW. Stifel Nicolaus reissued a “buy” rating and issued a $12.50 target price on shares of NOW in a research note on Thursday, December 14th. BidaskClub cut shares of NOW from a “sell” rating to a “strong sell” rating in a report on Friday, November 10th. Robert W. Baird restated a “hold” rating and issued a $13.00 price target on shares of NOW in a report on Friday, November 3rd. Credit Suisse Group cut their price target on shares of NOW from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, November 3rd. Finally, Susquehanna Bancshares restated a “neutral” rating and issued a $24.00 price target on shares of NOW in a report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. NOW currently has a consensus rating of “Hold” and an average target price of $15.65.
NOW (NYSE:DNOW) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. NOW had a negative net margin of 4.77% and a negative return on equity of 5.17%. The firm had revenue of $697.00 million during the quarter, compared to analyst estimates of $701.29 million. During the same period last year, the firm posted ($0.34) EPS. NOW’s revenue was up 34.0% on a year-over-year basis. sell-side analysts predict that NOW Inc will post -0.34 earnings per share for the current fiscal 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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