Los Angeles Capital Management & Equity Research Inc. Takes $965,000 Position in NOW Inc. (DNOW)

Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of NOW Inc. (NYSE:DNOW) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 60,029 shares of the oil and gas company’s stock, valued at approximately $965,000. Los Angeles Capital Management & Equity Research Inc. owned about 0.06% of NOW as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in DNOW. Bank of Montreal Can raised its stake in NOW by 130.2% during the second quarter. Bank of Montreal Can now owns 6,966 shares of the oil and gas company’s stock worth $112,000 after buying an additional 3,940 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in NOW during the first quarter worth $127,000. LS Investment Advisors LLC raised its stake in NOW by 18.9% during the second quarter. LS Investment Advisors LLC now owns 8,916 shares of the oil and gas company’s stock worth $143,000 after buying an additional 1,420 shares during the last quarter. Independent Order of Foresters raised its stake in NOW by 15.8% during the second quarter. Independent Order of Foresters now owns 11,166 shares of the oil and gas company’s stock worth $180,000 after buying an additional 1,520 shares during the last quarter. Finally, ING Groep NV bought a new position in NOW during the second quarter worth $211,000. 99.97% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on the stock. BidaskClub downgraded shares of NOW from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. Stifel Nicolaus set a $18.00 target price on shares of NOW and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. J P Morgan Chase & Co lowered their target price on shares of NOW from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, September 12th. KeyCorp reissued an “overweight” rating and set a $22.00 target price on shares of NOW in a research note on Friday, May 26th. Finally, Zacks Investment Research raised shares of NOW from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $19.10.

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Shares of NOW Inc. (NYSE:DNOW) opened at 12.88 on Thursday. The firm’s market capitalization is $1.39 billion. NOW Inc. has a 12-month low of $11.31 and a 12-month high of $23.53. The firm has a 50-day moving average of $12.36 and a 200-day moving average of $15.67.

NOW (NYSE:DNOW) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.10) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.10). NOW had a negative net margin of 7.14% and a negative return on equity of 7.83%. The business had revenue of $651.00 million during the quarter, compared to analyst estimates of $674.97 million. During the same period in the prior year, the business earned ($0.40) EPS. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. Equities analysts anticipate that NOW Inc. will post ($0.24) earnings per share for the current year.

About NOW

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.

Institutional Ownership by Quarter for NOW (NYSE:DNOW)

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