Russell Investments Group Ltd. Sells 36,739 Shares of NOW Inc (NYSE:DNOW)

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Russell Investments Group Ltd. cut its holdings in NOW Inc (NYSE:DNOW) by 13.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 237,237 shares of the oil and gas company’s stock after selling 36,739 shares during the quarter. Russell Investments Group Ltd.’s holdings in NOW were worth $3,453,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Investors Research Corp boosted its stake in shares of NOW by 61.6% during the second quarter. Investors Research Corp now owns 2,362 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 900 shares in the last quarter. Icon Wealth Partners LLC bought a new stake in NOW in the first quarter worth approximately $91,000. Rockefeller Capital Management L.P. bought a new stake in NOW in the first quarter worth approximately $113,000. NumerixS Investment Technologies Inc increased its holdings in NOW by 9,300.0% in the first quarter. NumerixS Investment Technologies Inc now owns 9,400 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 9,300 shares in the last quarter. Finally, Dupont Capital Management Corp increased its holdings in shares of NOW by 34.5% during the second quarter. Dupont Capital Management Corp now owns 11,700 shares of the oil and gas company’s stock valued at $173,000 after acquiring an additional 3,000 shares in the last quarter.

Shares of NYSE:DNOW traded up $0.51 during midday trading on Monday, reaching $12.78. 269,362 shares of the company traded hands, compared to its average volume of 840,581. The company has a quick ratio of 1.28, a current ratio of 2.55 and a debt-to-equity ratio of 0.08. NOW Inc has a 12 month low of $10.36 and a 12 month high of $17.18. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 35.49 and a beta of 1.41. The firm’s fifty day moving average price is $11.95 and its two-hundred day moving average price is $13.60.

NOW (NYSE:DNOW) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. NOW had a return on equity of 4.13% and a net margin of 2.16%. The company had revenue of $776.00 million for the quarter, compared to analyst estimates of $767.19 million. During the same period in the previous year, the company posted $0.10 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. Analysts forecast that NOW Inc will post 0.38 earnings per share for the current year.

Several brokerages recently issued reports on DNOW. Stifel Nicolaus decreased their price target on NOW from $15.00 to $14.00 and set a “hold” rating for the company in a report on Monday, July 15th. Capital One Financial upgraded 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. Cowen reiterated a “market perform” rating and set a $10.00 price target (down previously from $11.00) on shares of NOW in a report on Monday, August 5th. ValuEngine downgraded NOW from a “hold” rating to a “sell” rating in a report on Tuesday, July 16th. Finally, Zacks Investment Research upgraded NOW from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. NOW currently has an average rating of “Hold” and a consensus price target of $13.80.

NOW 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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