United Services Automobile Association Lowers Stake in NOW Inc (DNOW)

United Services Automobile Association cut its holdings in shares of NOW Inc (NYSE:DNOW) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,254 shares of the oil and gas company’s stock after selling 1,253 shares during the period. United Services Automobile Association owned about 0.07% of NOW worth $864,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. First Trust Advisors LP bought a new stake in NOW in the 3rd quarter worth about $590,000. JPMorgan Chase & Co. grew its position in shares of NOW by 91.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 670,933 shares of the oil and gas company’s stock valued at $11,103,000 after acquiring an additional 320,212 shares during the period. PNC Financial Services Group Inc. grew its position in shares of NOW by 267.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 21,465 shares of the oil and gas company’s stock valued at $355,000 after acquiring an additional 15,624 shares during the period. BlackRock Inc. grew its position in shares of NOW by 1.2% during the 3rd quarter. BlackRock Inc. now owns 11,882,925 shares of the oil and gas company’s stock valued at $196,662,000 after acquiring an additional 141,825 shares during the period. Finally, American International Group Inc. grew its position in shares of NOW by 1.4% during the 3rd quarter. American International Group Inc. now owns 289,958 shares of the oil and gas company’s stock valued at $4,799,000 after acquiring an additional 4,027 shares during the period.

A number of research firms have recently weighed in on DNOW. Zacks Investment Research downgraded shares of NOW from a “buy” rating to a “hold” rating in a research report on Friday, January 18th. ValuEngine raised shares of NOW from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Seven analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of $15.40.

Shares of NOW stock traded up $0.05 on Friday, reaching $15.45. 550,784 shares of the company traded hands, compared to its average volume of 581,204. NOW Inc has a 52 week low of $10.36 and a 52 week high of $18.56. The company has a market capitalization of $1.70 billion, a P/E ratio of 42.92 and a beta of 1.40. The company has a quick ratio of 1.40, a current ratio of 2.76 and a debt-to-equity ratio of 0.11.

NOW (NYSE:DNOW) last released its quarterly earnings data on Thursday, February 14th. The oil and gas company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.04. The company had revenue of $764.00 million during the quarter, compared to the consensus estimate of $772.87 million. NOW had a net margin of 1.66% and a return on equity of 3.24%. NOW’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period last year, the firm earned $0.01 EPS. Equities analysts expect that NOW Inc will post 0.4 EPS for the current fiscal year.

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About NOW

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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