South Dakota Investment Council cut its holdings in NOW Inc (NYSE:DNOW) by 44.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 144,300 shares of the oil and gas company’s stock after selling 116,900 shares during the quarter. South Dakota Investment Council owned approximately 0.13% of NOW worth $2,130,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DNOW. Northern Trust Corp grew its holdings in NOW by 2.6% during the 2nd quarter. Northern Trust Corp now owns 1,708,501 shares of the oil and gas company’s stock worth $25,217,000 after acquiring an additional 42,698 shares during the last quarter. Natixis Advisors L.P. raised its stake in shares of NOW by 3.0% in the second quarter. Natixis Advisors L.P. now owns 185,494 shares of the oil and gas company’s stock worth $2,738,000 after acquiring an additional 5,371 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of NOW during the second quarter worth approximately $637,000. Bank of New York Mellon Corp lifted its position in shares of NOW by 8.2% during the second quarter. Bank of New York Mellon Corp now owns 1,287,400 shares of the oil and gas company’s stock worth $19,000,000 after purchasing an additional 97,256 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new stake in shares of NOW during the second quarter valued at approximately $297,000.

DNOW has been the subject of a number of research reports. Capital One Financial raised shares of NOW from an “equal weight” rating to an “overweight” rating and set a $16.00 price target for the company in a report on Friday, August 2nd. Stifel Nicolaus decreased their price objective on NOW from $15.00 to $14.00 and set a “hold” rating on the stock in a research report on Monday, July 15th. Cowen reissued a “market perform” rating and issued a $10.00 target price (down from $11.00) on shares of NOW in a research note on Monday, August 5th. Zacks Investment Research raised NOW from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, ValuEngine downgraded NOW from a “hold” rating to a “sell” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $13.80.

NOW stock traded up $0.01 during trading hours on Wednesday, reaching $12.32. 77,495 shares of the company’s stock traded hands, compared to its average volume of 793,022. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.28 and a current ratio of 2.55. NOW Inc has a fifty-two week low of $10.36 and a fifty-two week high of $17.18. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 34.28 and a beta of 1.41. The firm’s 50 day moving average is $11.96 and its 200-day moving average is $13.63.

NOW (NYSE:DNOW) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $776.00 million during the quarter, compared to analysts’ expectations of $767.19 million. NOW had a net margin of 2.16% and a return on equity of 4.13%. NOW’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 EPS. Analysts predict that NOW Inc will post 0.38 EPS for the current year.

NOW Company Profile

NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as applied products and applications, such as artificial lift systems, coatings, and other expendable items.

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Institutional Ownership by Quarter for NOW (NYSE:DNOW)

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