Baillie Gifford & Co. Increases Position in NOW Inc. (DNOW)

Baillie Gifford & Co. boosted its stake in shares of NOW Inc. (NYSE:DNOW) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,065,945 shares of the oil and gas company’s stock after purchasing an additional 242,805 shares during the quarter. Baillie Gifford & Co. owned about 12.13% of NOW worth $210,101,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bank of Montreal Can boosted its position in shares of NOW by 130.2% in the second quarter. Bank of Montreal Can now owns 6,966 shares of the oil and gas company’s stock valued at $112,000 after acquiring an additional 3,940 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of NOW in the first quarter valued at about $127,000. LS Investment Advisors LLC boosted its position in shares of NOW by 18.9% in the second quarter. LS Investment Advisors LLC now owns 8,916 shares of the oil and gas company’s stock valued at $143,000 after acquiring an additional 1,420 shares during the period. Independent Order of Foresters boosted its position in shares of NOW by 15.8% in the second quarter. Independent Order of Foresters now owns 11,166 shares of the oil and gas company’s stock valued at $180,000 after acquiring an additional 1,520 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of NOW by 10.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,717 shares of the oil and gas company’s stock valued at $216,000 after acquiring an additional 1,219 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

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Shares of NOW Inc. (NYSE:DNOW) traded down 3.15% on Friday, reaching $12.62. The company’s stock had a trading volume of 1,510,392 shares. The firm’s 50-day moving average price is $12.55 and its 200-day moving average price is $15.81. The stock’s market cap is $1.36 billion. NOW Inc. has a 12 month low of $11.31 and a 12 month high of $23.53.

NOW (NYSE:DNOW) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.10). The firm had revenue of $651.00 million during the quarter, compared to the consensus estimate of $674.97 million. NOW had a negative return on equity of 7.83% and a negative net margin of 7.14%. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.40) EPS. On average, analysts forecast that NOW Inc. will post ($0.24) earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on DNOW. J P Morgan Chase & Co reduced their target price on shares of NOW from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $18.00 price target on shares of NOW in a research note on Thursday, September 7th. BidaskClub raised NOW from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 6th. Credit Suisse Group set a $15.00 price target on NOW and gave the company a “hold” rating in a research note on Friday, August 4th. Finally, Zacks Investment Research raised NOW from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. NOW currently has a consensus rating of “Hold” and a consensus target price of $19.10.

NOW 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.

Institutional Ownership by Quarter for NOW (NYSE:DNOW)

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