NOW (NYSE:DNOW) Shares Down 6.4%

NOW Inc. (NYSE:DNOWGet Rating)’s share price traded down 6.4% during trading on Thursday . The company traded as low as $8.95 and last traded at $8.96. 25,624 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 591,637 shares. The stock had previously closed at $9.57.

Separately, StockNews.com assumed coverage on NOW in a report on Thursday, March 31st. They issued a “buy” rating for the company.

The stock has a fifty day moving average price of $10.80 and a 200 day moving average price of $9.96. The stock has a market capitalization of $979.78 million, a P/E ratio of 23.34 and a beta of 1.71.

NOW (NYSE:DNOWGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The oil and gas company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. NOW had a return on equity of 4.07% and a net margin of 2.58%. The firm had revenue of $473.00 million during the quarter, compared to analyst estimates of $456.42 million. During the same period last year, the company earned ($0.04) earnings per share. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. As a group, equities analysts anticipate that NOW Inc. will post 0.6 EPS for the current year.

Several hedge funds have recently modified their holdings of DNOW. Voya Investment Management LLC raised its position in shares of NOW by 1.9% in the third quarter. Voya Investment Management LLC now owns 109,240 shares of the oil and gas company’s stock worth $836,000 after buying an additional 2,035 shares in the last quarter. Invesco Ltd. raised its position in shares of NOW by 1.5% in the third quarter. Invesco Ltd. now owns 759,478 shares of the oil and gas company’s stock worth $5,810,000 after buying an additional 11,024 shares in the last quarter. Millennium Management LLC raised its position in NOW by 40.5% during the third quarter. Millennium Management LLC now owns 440,447 shares of the oil and gas company’s stock valued at $3,369,000 after purchasing an additional 127,011 shares in the last quarter. Two Sigma Investments LP raised its position in NOW by 298.5% during the third quarter. Two Sigma Investments LP now owns 237,103 shares of the oil and gas company’s stock valued at $1,814,000 after purchasing an additional 177,603 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in NOW by 46.9% during the third quarter. Thrivent Financial for Lutherans now owns 132,370 shares of the oil and gas company’s stock valued at $1,012,000 after purchasing an additional 42,237 shares in the last quarter. Institutional investors own 91.33% of the company’s stock.

NOW Company Profile (NYSE:DNOW)

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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