Price T Rowe Associates Inc. MD cut its position in shares of NOW Inc. (NYSE:DNOW) by 13.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 174,939 shares of the oil and gas company’s stock after selling 26,235 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in NOW were worth $1,256,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in shares of NOW by 18.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 9,445 shares of the oil and gas company’s stock worth $68,000 after buying an additional 1,500 shares during the period. Strs Ohio boosted its stake in NOW by 1.5% during the fourth quarter. Strs Ohio now owns 116,300 shares of the oil and gas company’s stock worth $835,000 after acquiring an additional 1,700 shares in the last quarter. Credit Suisse AG boosted its stake in NOW by 1.5% during the fourth quarter. Credit Suisse AG now owns 121,114 shares of the oil and gas company’s stock worth $870,000 after acquiring an additional 1,836 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of NOW by 1.2% in the third quarter. California State Teachers Retirement System now owns 165,622 shares of the oil and gas company’s stock valued at $752,000 after buying an additional 2,026 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of NOW by 0.6% in the third quarter. Morgan Stanley now owns 343,422 shares of the oil and gas company’s stock valued at $1,559,000 after buying an additional 2,069 shares in the last quarter. Institutional investors own 91.53% of the company’s stock.
DNOW has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of NOW from a “buy” rating to a “hold” rating in a research note on Monday, January 18th. Northland Securities reaffirmed a “buy” rating and issued a $10.00 price objective on shares of NOW in a research note on Tuesday, December 29th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $5.00 price target on shares of NOW in a research report on Thursday, February 25th. Finally, Cowen raised their price target on shares of NOW from $10.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, February 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $8.75.
NOW (NYSE:DNOW) last posted its quarterly earnings data on Wednesday, February 17th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.06). The company had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $302.60 million. NOW had a negative return on equity of 5.78% and a negative net margin of 26.92%. On average, research analysts predict that NOW Inc. will post -0.62 earnings per share for the current fiscal year.
NOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and industrial manufacturing operations in the United States, Canada, and internationally. The company offers its products under the DistributionNOW and DNOW brand names.
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