Schwab Charles Investment Management Inc. lifted its position in shares of NOW Inc (NYSE:DNOW) by 13.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,280,038 shares of the oil and gas company’s stock after acquiring an additional 151,540 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in NOW were worth $14,119,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in DNOW. Shell Asset Management Co. acquired a new stake in shares of NOW during the 3rd quarter worth approximately $137,000. ETRADE Capital Management LLC acquired a new stake in shares of NOW during the 3rd quarter worth approximately $165,000. Boothbay Fund Management LLC acquired a new stake in shares of NOW during the 3rd quarter worth approximately $176,000. Cubist Systematic Strategies LLC acquired a new stake in shares of NOW during the 3rd quarter worth approximately $176,000. Finally, 22NW LP acquired a new stake in shares of NOW during the 3rd quarter worth approximately $235,000.
A number of brokerages have recently issued reports on DNOW. KeyCorp cut their price target on shares of NOW from $22.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, February 15th. JPMorgan Chase & Co. dropped their target price on shares of NOW from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, February 15th. BidaskClub downgraded shares of NOW from a “sell” rating to a “strong sell” rating in a report on Friday, November 10th. Cowen dropped their target price on shares of NOW from $10.00 to $9.00 and set a “market perform” rating for the company in a report on Thursday, February 15th. Finally, Robert W. Baird reiterated a “neutral” rating on shares of NOW in a report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $12.70.
NOW (NYSE:DNOW) last posted its earnings results on Wednesday, February 14th. The oil and gas company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. The firm had revenue of $669.00 million during the quarter, compared to the consensus estimate of $690.62 million. NOW had a negative net margin of 1.96% and a negative return on equity of 2.46%. The firm’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.29) EPS. research analysts forecast that NOW Inc will post 0.07 EPS for the current fiscal year.
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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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