Wolverine Asset Management LLC purchased a new position in NOW Inc (NYSE:DNOW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 100,575 shares of the oil and gas company’s stock, valued at approximately $1,109,000. Wolverine Asset Management LLC owned about 0.09% of NOW as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of NOW by 6.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,788,397 shares of the oil and gas company’s stock worth $66,127,000 after buying an additional 272,430 shares during the last quarter. GMT Capital Corp bought a new stake in NOW in the 3rd quarter valued at about $3,610,000. Schwab Charles Investment Management Inc. lifted its position in NOW by 13.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,280,038 shares of the oil and gas company’s stock valued at $14,119,000 after purchasing an additional 151,540 shares during the last quarter. Wells Fargo & Company MN lifted its position in NOW by 2.9% in the 3rd quarter. Wells Fargo & Company MN now owns 853,511 shares of the oil and gas company’s stock valued at $11,787,000 after purchasing an additional 24,348 shares during the last quarter. Finally, CLS Investments LLC lifted its position in NOW by 86.9% in the 4th quarter. CLS Investments LLC now owns 1,095,400 shares of the oil and gas company’s stock valued at $12,082,000 after purchasing an additional 509,400 shares during the last quarter.
DNOW has been the topic of several recent research reports. Zacks Investment Research downgraded shares of NOW from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Stephens set a $13.00 price objective on shares of NOW and gave the company a “buy” rating in a research report on Wednesday, February 14th. JPMorgan Chase & Co. cut their price objective on shares of NOW from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, February 15th. Cowen cut their price objective on shares of NOW from $10.00 to $9.00 and set a “market perform” rating on the stock in a research report on Thursday, February 15th. Finally, Robert W. Baird reiterated a “neutral” rating on shares of NOW in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. NOW currently has an average rating of “Hold” and an average target price of $12.50.
NOW (NYSE:DNOW) last released its earnings results on Wednesday, February 14th. The oil and gas company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. The firm had revenue of $669.00 million for the quarter, compared to analysts’ expectations of $690.62 million. NOW had a negative net margin of 1.96% and a negative return on equity of 2.46%. NOW’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.29) EPS. equities research analysts forecast that NOW Inc will post 0.07 earnings per share for the current year.
In related news, CEO Robert R. Workman bought 28,550 shares of the stock in a transaction on Tuesday, March 6th. The shares were purchased at an average price of $10.51 per share, with a total value of $300,060.50. Following the purchase, the chief executive officer now owns 583,616 shares in the company, valued at $6,133,804.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.50% of the stock is currently owned by company insiders.
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NOW Company Profile
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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