Stifel Nicolaus restated their buy rating on shares of NOW Inc. (NYSE:DNOW) in a research note published on Thursday. Stifel Nicolaus currently has a $18.00 price objective on the oil and gas company’s stock.
Several other research firms have also recently issued reports on DNOW. Seaport Global Securities cut shares of NOW from a buy rating to a neutral rating and lowered their price objective for the company from $22.00 to $17.00 in a research report on Wednesday, June 21st. Zacks Investment Research raised shares of NOW from a sell rating to a hold rating in a research report on Monday, July 31st. BidaskClub cut shares of NOW from a buy rating to a hold rating in a research report on Tuesday, July 25th. Credit Suisse Group lowered their price target on shares of NOW from $20.00 to $19.00 and set a neutral rating for the company in a research report on Monday, May 15th. Finally, KeyCorp reaffirmed an overweight rating and issued a $22.00 price target on shares of NOW in a research report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $19.30.
Shares of NOW (NYSE:DNOW) opened at 12.11 on Thursday. NOW has a one year low of $11.31 and a one year high of $23.53. The firm has a 50-day moving average of $13.03 and a 200 day moving average of $16.07. The stock’s market capitalization is $1.30 billion.
NOW (NYSE:DNOW) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The company had revenue of $651 million during the quarter, compared to analysts’ expectations of $674.97 million. NOW had a negative net margin of 7.14% and a negative return on equity of 7.83%. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.40) EPS. On average, equities research analysts predict that NOW will post ($0.24) EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in DNOW. BlackRock Inc. lifted its position in shares of NOW by 16,819.9% in the 1st quarter. BlackRock Inc. now owns 11,399,636 shares of the oil and gas company’s stock worth $193,337,000 after purchasing an additional 11,332,262 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of NOW by 42.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,515,967 shares of the oil and gas company’s stock worth $72,615,000 after purchasing an additional 1,353,934 shares during the period. Black Creek Investment Management Inc. lifted its position in NOW by 50.1% during the second quarter. Black Creek Investment Management Inc. now owns 2,333,200 shares of the oil and gas company’s stock valued at $37,518,000 after acquiring an additional 779,200 shares during the last quarter. Vanguard Group Inc. lifted its position in NOW by 9.2% during the first quarter. Vanguard Group Inc. now owns 8,787,117 shares of the oil and gas company’s stock valued at $149,030,000 after acquiring an additional 739,256 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in NOW by 98.2% during the first quarter. JPMorgan Chase & Co. now owns 1,434,114 shares of the oil and gas company’s stock valued at $24,323,000 after acquiring an additional 710,500 shares during the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.
NOW Company Profile
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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