California Public Employees Retirement System Decreases Holdings in NOW Inc. (DNOW)

California Public Employees Retirement System decreased its position in NOW Inc. (NYSE:DNOW) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 446,620 shares of the oil and gas company’s stock after selling 3,100 shares during the quarter. California Public Employees Retirement System owned approximately 0.41% of NOW worth $7,182,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Amalgamated Bank raised its holdings in NOW by 0.7% in the second quarter. Amalgamated Bank now owns 15,153 shares of the oil and gas company’s stock worth $244,000 after purchasing an additional 105 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in NOW by 0.7% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,765 shares of the oil and gas company’s stock worth $270,000 after purchasing an additional 115 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in NOW by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 37,569 shares of the oil and gas company’s stock worth $604,000 after purchasing an additional 208 shares in the last quarter. Advantus Capital Management Inc raised its holdings in NOW by 3.0% in the first quarter. Advantus Capital Management Inc now owns 13,760 shares of the oil and gas company’s stock worth $233,000 after purchasing an additional 403 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its holdings in NOW by 1.4% in the second quarter. Neuberger Berman Group LLC now owns 29,396 shares of the oil and gas company’s stock worth $473,000 after purchasing an additional 413 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

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A number of equities analysts have issued reports on the company. BidaskClub upgraded NOW from a “sell” rating to a “hold” rating in a report on Saturday, September 23rd. Zacks Investment Research downgraded NOW from a “hold” rating to a “sell” rating in a report on Monday, July 17th. J P Morgan Chase & Co reduced their price target on NOW from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, September 12th. Credit Suisse Group set a $15.00 price target on NOW and gave the company a “hold” rating in a report on Friday, August 4th. Finally, Robert W. Baird downgraded NOW from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $15.00 in a report on Friday. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $17.78.

NOW Inc. (DNOW) opened at 13.19 on Friday. The company’s market capitalization is $1.42 billion. NOW Inc. has a one year low of $11.31 and a one year high of $23.53. The stock’s 50 day moving average price is $12.77 and its 200 day moving average price is $15.26.

NOW (NYSE:DNOW) last released its quarterly earnings results 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). The firm had revenue of $651.00 million during the quarter, compared to analyst estimates of $674.97 million. NOW had a negative return on equity of 7.83% and a negative net margin of 7.14%. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.40) EPS. Equities analysts anticipate that NOW Inc. will post ($0.26) EPS for the current fiscal 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.

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Institutional Ownership by Quarter for NOW (NYSE:DNOW)

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