According to Zacks, “NOW Inc. is a distributor to the energy and industrial sectors. It stocks and sells a comprehensive offering of products for the upstream, midstream, and downstream & industrial market segments. The Company offers stock keeping units, including pipe, valves and valve automation, fittings, instrumentation, mill and industrial supplies, tools, safety supplies, electrical products, drilling and production equipment, fabricated equipment, and industrial paints and coatings. NOW also provides supply chain management solutions to energy and industrial manufacturing companies around the world. It operates primarily under the DistributionNOW and Wilson Export brands. NOW Inc. is headquartered in Houston, Texas. “
DNOW has been the subject of several other reports. Stifel Nicolaus lowered their price target on NOW from $15.00 to $14.00 and set a hold rating for the company in a report on Monday, July 15th. ValuEngine downgraded NOW from a hold rating to a sell rating in a report on Tuesday, July 16th. Cowen reiterated a market perform rating and issued a $10.00 price target (down from $11.00) on shares of NOW in a report on Monday, August 5th. Finally, Capital One Financial upgraded NOW from an equal weight rating to an overweight rating and set a $16.00 price target for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $13.80.
NOW (NYSE:DNOW) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. NOW had a return on equity of 4.13% and a net margin of 2.16%. The firm had revenue of $776.00 million during the quarter, compared to the consensus estimate of $767.19 million. During the same period in the prior year, the firm earned $0.10 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. As a group, analysts expect that NOW will post 0.38 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in NOW by 12.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,670,835 shares of the oil and gas company’s stock valued at $100,928,000 after buying an additional 931,341 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in NOW by 1,148.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 22,664 shares of the oil and gas company’s stock valued at $316,000 after buying an additional 20,849 shares during the last quarter. First Republic Investment Management Inc. boosted its position in NOW by 13.7% in the 1st quarter. First Republic Investment Management Inc. now owns 14,820 shares of the oil and gas company’s stock valued at $207,000 after buying an additional 1,780 shares during the last quarter. Rhumbline Advisers boosted its position in NOW by 0.8% in the 1st quarter. Rhumbline Advisers now owns 342,830 shares of the oil and gas company’s stock valued at $4,786,000 after buying an additional 2,679 shares during the last quarter. Finally, Texas Permanent School Fund boosted its position in NOW by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 73,628 shares of the oil and gas company’s stock valued at $1,028,000 after buying an additional 2,679 shares during the last quarter.
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, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as applied products and applications, such as artificial lift systems, coatings, and other expendable items.
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