Massachusetts Financial Services Co. MA Has $98.38 Million Position in NOW Inc (DNOW)

Massachusetts Financial Services Co. MA increased its holdings in NOW Inc (NYSE:DNOW) by 4.1% during the third quarter, HoldingsChannel.com reports. The firm owned 5,944,188 shares of the oil and gas company’s stock after acquiring an additional 236,030 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.05% of NOW worth $98,376,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Cornerstone Wealth Management LLC purchased a new position in shares of NOW in the second quarter valued at about $514,000. Icon Wealth Partners LLC purchased a new position in shares of NOW in the second quarter valued at about $105,000. NumerixS Investment Technologies Inc purchased a new position in shares of NOW in the second quarter valued at about $120,000. Neuburgh Advisers LLC increased its position in shares of NOW by 51.7% in the second quarter. Neuburgh Advisers LLC now owns 10,560 shares of the oil and gas company’s stock valued at $141,000 after acquiring an additional 3,600 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of NOW in the second quarter valued at about $146,000.

Shares of DNOW opened at $12.68 on Wednesday. The stock has a market cap of $1.40 billion, a PE ratio of -46.96 and a beta of 1.06. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.89. NOW Inc has a 1-year low of $9.12 and a 1-year high of $18.56.



NOW (NYSE:DNOW) last posted its quarterly earnings data on Thursday, August 2nd. The oil and gas company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.03 by $0.07. NOW had a net margin of 0.14% and a return on equity of 0.76%. The business had revenue of $777.00 million for the quarter, compared to analyst estimates of $761.78 million. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. NOW’s quarterly revenue was up 19.4% on a year-over-year basis. Research analysts expect that NOW Inc will post 0.3 EPS for the current year.

DNOW has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of NOW from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Tuesday, July 3rd. Cowen initiated coverage on shares of NOW in a research report on Saturday, October 13th. They issued a “hold” rating and a $17.00 price objective on the stock. ValuEngine upgraded shares of NOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. Susquehanna Bancshares set a $16.00 target price on shares of NOW and gave the company a “hold” rating in a research note on Friday, August 3rd. Finally, Stifel Nicolaus lifted their target price on shares of NOW from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.10.

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.

See Also: Understanding Market Liquidity

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Institutional Ownership by Quarter for NOW (NYSE:DNOW)

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