Stifel Financial Corp Acquires 33,664 Shares of NOW Inc (DNOW)
Stifel Financial Corp raised its holdings in NOW Inc (NYSE:DNOW) by 41.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 114,418 shares of the oil and gas company’s stock after acquiring an additional 33,664 shares during the quarter. Stifel Financial Corp owned approximately 0.11% of NOW worth $1,557,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of Montreal Can boosted its stake in shares of 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 during the last quarter. Riverhead Capital Management LLC boosted its stake in shares of 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 during the last quarter. Shell Asset Management Co. bought a new stake in shares of NOW in the 3rd quarter valued at $137,000. ETRADE Capital Management LLC bought a new stake in shares of NOW in the 3rd quarter valued at $165,000. Finally, HighTower Advisors LLC bought a new stake in shares of NOW in the 2nd quarter valued at $170,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.
DNOW has been the topic of a number of analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $18.00 price objective on shares of NOW in a research note on Thursday, September 7th. Robert W. Baird lowered shares of NOW from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $15.00 in a research note on Friday, October 13th. Credit Suisse Group reduced their price objective on shares of NOW from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. BidaskClub lowered shares of NOW from a “buy” rating to a “hold” rating in a research note on Saturday, October 7th. Finally, Zacks Investment Research raised shares of NOW from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $15.65.
NOW Inc (NYSE:DNOW) opened at $11.00 on Monday. The stock has a market cap of $1,190.00, a price-to-earnings ratio of -9.82 and a beta of 0.77. NOW Inc has a 12 month low of $9.75 and a 12 month high of $22.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.39 and a current ratio of 2.72.
NOW (NYSE:DNOW) last issued its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. The business had revenue of $697.00 million for the quarter, compared to analyst estimates of $701.29 million. NOW had a negative net margin of 4.77% and a negative return on equity of 5.17%. NOW’s revenue was up 34.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.34) earnings per share. analysts predict that NOW Inc will post -0.34 EPS for the current 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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