NOW Inc. (NYSE:DNOW) had its price objective cut by J P Morgan Chase & Co from $15.00 to $12.00 in a research note published on Tuesday morning. They currently have a neutral rating on the oil and gas company’s stock.
A number of other analysts have also recently weighed in on the company. Seaport Global Securities cut NOW from a buy rating to a neutral rating and decreased their price objective for the stock from $22.00 to $17.00 in a research report on Wednesday, June 21st. Credit Suisse Group reduced their price target on NOW from $20.00 to $19.00 and set a neutral rating for the company in a report on Monday, May 15th. Zacks Investment Research cut NOW from a hold rating to a sell rating in a report on Monday, July 17th. KeyCorp reissued an overweight rating and issued a $22.00 price target on shares of NOW in a report on Friday, May 26th. Finally, Stifel Nicolaus reissued a buy rating on shares of NOW in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. NOW currently has a consensus rating of Hold and a consensus price target of $19.10.
Shares of NOW (NYSE DNOW) opened at 12.69 on Tuesday. NOW has a 52-week low of $11.31 and a 52-week high of $23.53. The stock has a 50 day moving average price of $12.93 and a 200-day moving average price of $15.95. The stock’s market capitalization is $1.37 billion.
NOW (NYSE:DNOW) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). NOW had a negative return on equity of 7.83% and a negative net margin of 7.14%. The company had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $674.97 million. During the same period last year, the firm earned ($0.40) EPS. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. On average, equities research analysts anticipate that NOW will post ($0.24) EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Montreal Can increased its stake in NOW by 130.2% in the 2nd quarter. Bank of Montreal Can now owns 6,966 shares of the oil and gas company’s stock valued at $112,000 after purchasing an additional 3,940 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in NOW in the 1st quarter valued at approximately $127,000. Riverhead Capital Management LLC increased its stake in NOW by 70.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,990 shares of the oil and gas company’s stock valued at $128,000 after purchasing an additional 3,290 shares in the last quarter. LS Investment Advisors LLC increased its stake in NOW by 18.9% in the 2nd quarter. LS Investment Advisors LLC now owns 8,916 shares of the oil and gas company’s stock valued at $143,000 after purchasing an additional 1,420 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new position in NOW in the 2nd quarter valued at approximately $170,000. 96.71% of the stock is owned by institutional investors and hedge funds.
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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