American International Group Inc. Acquires 7,803 Shares of NOW Inc. (DNOW)

American International Group Inc. lifted its holdings in NOW Inc. (NYSE:DNOW) by 2.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 292,032 shares of the oil and gas company’s stock after purchasing an additional 7,803 shares during the quarter. American International Group Inc. owned 0.27% of NOW worth $4,033,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of DNOW. Dimensional Fund Advisors LP lifted its position in shares of NOW by 42.8% during the second 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 last quarter. Black Creek Investment Management Inc. increased its stake in shares of 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 buying an additional 779,200 shares during the period. QV Investors Inc. increased its stake in shares of NOW by 44.8% during the third quarter. QV Investors Inc. now owns 2,178,087 shares of the oil and gas company’s stock valued at $30,079,000 after buying an additional 674,348 shares during the period. Teachers Advisors LLC grew its stake in NOW by 284.8% in the second quarter. Teachers Advisors LLC now owns 736,670 shares of the oil and gas company’s stock valued at $11,846,000 after purchasing an additional 545,232 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in NOW by 79.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 983,499 shares of the oil and gas company’s stock valued at $15,815,000 after purchasing an additional 435,538 shares during the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

Shares of NOW Inc. (NYSE DNOW) traded down $0.62 during trading hours on Thursday, reaching $10.10. The company’s stock had a trading volume of 1,276,700 shares, compared to its average volume of 1,338,730. NOW Inc. has a one year low of $9.75 and a one year high of $23.53. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.72 and a quick ratio of 1.39.

NOW (NYSE:DNOW) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.01. NOW had a negative return on equity of 5.17% and a negative net margin of 4.77%. The company had revenue of $697.00 million during the quarter, compared to the consensus estimate of $701.29 million. During the same period in the previous year, the company posted ($0.34) earnings per share. NOW’s revenue for the quarter was up 34.0% on a year-over-year basis. sell-side analysts anticipate that NOW Inc. will post -0.34 EPS for the current year.

A number of equities research analysts recently commented on DNOW shares. BidaskClub downgraded NOW from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Zacks Investment Research downgraded NOW from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Susquehanna Bancshares reaffirmed a “neutral” rating and set a $24.00 target price on shares of NOW in a report on Thursday, November 2nd. Cowen set a $14.00 target price on NOW and gave the stock a “hold” rating in a report on Friday, October 6th. Finally, UBS downgraded NOW from a “positive” rating to a “neutral” rating in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $16.20.

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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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