Legal & General Group Plc Has $2.44 Million Stake in NOW Inc (DNOW)

Legal & General Group Plc lifted its position in NOW Inc (NYSE:DNOW) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 176,686 shares of the oil and gas company’s stock after buying an additional 7,795 shares during the quarter. Legal & General Group Plc owned about 0.16% of NOW worth $2,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Shell Asset Management Co. acquired a new position in NOW during the 3rd quarter valued at $137,000. Bank of Montreal Can raised its stake in NOW by 130.2% during 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 raised its stake in NOW by 70.0% during 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. HighTower Advisors LLC acquired a new position in NOW during the 2nd quarter valued at $170,000. Finally, Global Endowment Management LP raised its stake in NOW by 5.7% during the 2nd quarter. Global Endowment Management LP now owns 11,180 shares of the oil and gas company’s stock valued at $180,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

NOW Inc (NYSE:DNOW) opened at $11.06 on Thursday. NOW Inc has a one year low of $9.75 and a one year high of $22.86. The stock has a market cap of $1,210.00, a price-to-earnings ratio of -9.88 and a beta of 0.77. The company has a quick ratio of 1.39, a current ratio of 2.72 and a debt-to-equity ratio of 0.14.

NOW (NYSE:DNOW) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. NOW had a negative net margin of 4.77% and a negative return on equity of 5.17%. The business had revenue of $697.00 million for the quarter, compared to analyst estimates of $701.29 million. During the same quarter in the prior year, the firm earned ($0.34) EPS. The firm’s quarterly revenue was up 34.0% compared to the same quarter last year. sell-side analysts forecast that NOW Inc will post -0.34 earnings per share for the current year.

A number of equities analysts have recently issued reports on DNOW shares. BidaskClub upgraded shares of NOW from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 6th. Stifel Nicolaus restated a “buy” rating and issued a $18.00 price objective on shares of NOW in a research note on Thursday, September 7th. JPMorgan Chase & Co. dropped their price objective on shares of NOW from $15.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, September 12th. Zacks Investment Research cut shares of NOW from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Finally, Cowen set a $14.00 price objective on shares of NOW and gave the company a “hold” rating in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $15.65.

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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.

Institutional Ownership by Quarter for NOW (NYSE:DNOW)

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