Panagora Asset Management Inc. decreased its holdings in NOW Inc. (NYSE:DNOW – Free Report) by 12.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 571,338 shares of the oil and gas company’s stock after selling 81,823 shares during the period. Panagora Asset Management Inc. owned approximately 0.53% of NOW worth $6,370,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of DNOW. State of Wyoming acquired a new stake in NOW in the 4th quarter valued at about $31,000. BOKF NA acquired a new stake in shares of NOW during the 1st quarter worth approximately $33,000. Tower Research Capital LLC TRC increased its holdings in shares of NOW by 535.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,726 shares of the oil and gas company’s stock worth $41,000 after buying an additional 3,140 shares during the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in shares of NOW during the 4th quarter worth approximately $42,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of NOW by 87.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,317 shares of the oil and gas company’s stock worth $59,000 after buying an additional 2,483 shares during the last quarter. Institutional investors and hedge funds own 95.50% of the company’s stock.
NOW Stock Performance
NYSE:DNOW opened at $11.85 on Friday. The stock has a market capitalization of $1.26 billion, a P/E ratio of 9.71 and a beta of 1.62. The company has a 50 day moving average price of $10.90 and a 200 day moving average price of $10.78. NOW Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $14.86.
NOW (NYSE:DNOW – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The company had revenue of $594.00 million for the quarter, compared to analysts’ expectations of $592.30 million. NOW had a return on equity of 14.00% and a net margin of 5.95%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 EPS. Research analysts forecast that NOW Inc. will post 0.97 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on DNOW. StockNews.com began coverage on shares of NOW in a report on Friday, August 18th. They set a “buy” rating for the company. TheStreet upgraded shares of NOW from a “c+” rating to a “b” rating in a report on Friday, May 12th.
Check Out Our Latest Stock Analysis on DNOW
NOW Company Profile
NOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and industrial manufacturing operations in the United States, Canada, and internationally. It offers its products under the DistributionNOW and DNOW brand names.
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