NOW Inc. (DNOW) Given Buy Rating at Stifel Nicolaus

Stifel Nicolaus restated their buy rating on shares of NOW Inc. (NYSE:DNOW) in a research report report published on Friday morning.

DNOW has been the subject of several other research reports. Seaport Global Securities downgraded NOW from a buy rating to a neutral rating and decreased their price target for the stock from $22.00 to $17.00 in a report on Wednesday, June 21st. KeyCorp restated an overweight rating and issued a $22.00 price objective on shares of NOW in a research note on Friday, May 26th. Credit Suisse Group reduced their price objective on NOW from $20.00 to $19.00 and set a neutral rating for the company in a research note on Monday, May 15th. Zacks Investment Research downgraded NOW from a buy rating to a hold rating in a research note on Monday, May 8th. Finally, Stephens upgraded NOW from an equal weight rating to an overweight rating and reduced their price objective for the company from $24.00 to $23.00 in a research note on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $20.00.

Shares of NOW (NYSE DNOW) traded up 0.50% during mid-day trading on Friday, reaching $16.08. 1,391,107 shares of the company’s stock traded hands. The company has a 50 day moving average of $16.98 and a 200 day moving average of $18.71. NOW has a 12 month low of $14.96 and a 12 month high of $23.53. The company’s market cap is $1.73 billion.

NOW (NYSE:DNOW) last issued its earnings results on Wednesday, May 3rd. The oil and gas company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.08. NOW had a negative return on equity of 10.27% and a negative net margin of 8.86%. The company had revenue of $631 million for the quarter, compared to analyst estimates of $605.07 million. During the same period in the prior year, the firm earned ($0.35) earnings per share. NOW’s revenue for the quarter was up 15.1% on a year-over-year basis. Analysts expect that NOW will post ($0.25) earnings per share for the current fiscal year.

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In related news, Director James Crandell purchased 5,000 shares of NOW stock in a transaction that occurred on Thursday, May 25th. The shares were acquired at an average cost of $17.53 per share, for a total transaction of $87,650.00. Following the transaction, the director now directly owns 22,562 shares in the company, valued at $395,511.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of DNOW. Nationwide Fund Advisors raised its stake in shares of NOW by 0.4% in the first quarter. Nationwide Fund Advisors now owns 263,240 shares of the oil and gas company’s stock worth $4,465,000 after buying an additional 1,003 shares in the last quarter. SeaBridge Investment Advisors LLC boosted its position in shares of NOW by 94.9% in the first quarter. SeaBridge Investment Advisors LLC now owns 14,952 shares of the oil and gas company’s stock worth $254,000 after buying an additional 7,280 shares during the last quarter. Reliance Trust Co. of Delaware bought a new position in shares of NOW during the first quarter worth about $251,000. Louisiana State Employees Retirement System boosted its position in shares of NOW by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 27,100 shares of the oil and gas company’s stock worth $460,000 after buying an additional 500 shares during the last quarter. Finally, CWM LLC boosted its position in shares of NOW by 9.9% in the first quarter. CWM LLC now owns 31,800 shares of the oil and gas company’s stock worth $539,000 after buying an additional 2,860 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.

Analyst Recommendations for NOW (NYSE:DNOW)

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