NOW Inc. (DNOW) Position Lifted by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC boosted its holdings in shares of NOW Inc. (NYSE:DNOW) by 37.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 419,310 shares of the oil and gas company’s stock after buying an additional 114,858 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.39% of NOW worth $6,743,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Teachers Advisors LLC increased its position in NOW by 284.8% in the 2nd quarter. Teachers Advisors LLC now owns 736,670 shares of the oil and gas company’s stock worth $11,846,000 after purchasing an additional 545,232 shares during the last quarter. Riverhead Capital Management LLC increased its position in NOW by 70.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,990 shares of the oil and gas company’s stock worth $128,000 after purchasing an additional 3,290 shares during the last quarter. Baillie Gifford & Co. increased its position in NOW by 1.9% in the 2nd quarter. Baillie Gifford & Co. now owns 13,065,945 shares of the oil and gas company’s stock worth $210,101,000 after purchasing an additional 242,805 shares during the last quarter. South Dakota Investment Council increased its position in NOW by 20.1% in the 2nd quarter. South Dakota Investment Council now owns 183,262 shares of the oil and gas company’s stock worth $2,947,000 after purchasing an additional 30,662 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in NOW by 5.1% in the 2nd quarter. Wells Fargo & Company MN now owns 829,163 shares of the oil and gas company’s stock worth $13,333,000 after purchasing an additional 40,254 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NOW Inc. (NYSE DNOW) opened at 13.19 on Friday. NOW Inc. has a 1-year low of $11.31 and a 1-year high of $23.53. The company’s market cap is $1.42 billion. The stock’s 50 day moving average price is $12.77 and its 200 day moving average price is $15.26.

NOW (NYSE:DNOW) last released 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 Thomson Reuters’ consensus estimate of ($0.10). NOW had a negative return on equity of 7.83% and a negative net margin of 7.14%. The firm had revenue of $651.00 million for the quarter, compared to the consensus estimate of $674.97 million. During the same quarter last year, the business posted ($0.40) EPS. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. Equities research analysts forecast that NOW Inc. will post ($0.26) earnings per share for the current year.

Several brokerages have weighed in on DNOW. Zacks Investment Research raised NOW from a “sell” rating to a “hold” rating in a research report on Wednesday. Robert W. Baird reaffirmed a “buy” rating and issued a $20.00 target price on shares of NOW in a research report on Monday. BidaskClub lowered NOW from a “buy” rating to a “hold” rating in a research report on Saturday, October 7th. Cowen and Company set a $14.00 target price on NOW and gave the stock a “hold” rating in a research report on Friday, October 6th. Finally, J P Morgan Chase & Co dropped their target price on NOW from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 12th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $18.33.

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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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