Hutchinson Capital Management CA reduced its position in NOW Inc (NYSE:DNOW) by 1.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 757,318 shares of the oil and gas company’s stock after selling 9,412 shares during the quarter. NOW makes up about 3.1% of Hutchinson Capital Management CA’s holdings, making the stock its 15th largest position. Hutchinson Capital Management CA owned about 0.70% of NOW worth $10,095,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in DNOW. Schwab Charles Investment Management Inc. lifted its stake in NOW by 11.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,598,846 shares of the oil and gas company’s stock worth $21,313,000 after purchasing an additional 162,625 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in NOW by 0.4% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 729,581 shares of the oil and gas company’s stock worth $9,725,000 after purchasing an additional 2,911 shares during the last quarter. Rhumbline Advisers lifted its stake in NOW by 2.1% during the second quarter. Rhumbline Advisers now owns 203,245 shares of the oil and gas company’s stock worth $2,709,000 after purchasing an additional 4,183 shares during the last quarter. Boston Partners lifted its stake in NOW by 24.5% during the second quarter. Boston Partners now owns 209,619 shares of the oil and gas company’s stock worth $2,794,000 after purchasing an additional 41,225 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in NOW during the second quarter worth about $389,000.
NYSE DNOW opened at $16.67 on Friday. NOW Inc has a 1-year low of $9.12 and a 1-year high of $18.56. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.89 and a quick ratio of 1.45. The stock has a market capitalization of $1.87 billion, a PE ratio of -61.74 and a beta of 0.97.
NOW (NYSE:DNOW) last released its earnings results on Thursday, August 2nd. The oil and gas company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. NOW had a return on equity of 0.76% and a net margin of 0.14%. The company had revenue of $777.00 million during the quarter, compared to analyst estimates of $761.78 million. During the same quarter in the previous year, the company posted ($0.10) EPS. NOW’s revenue for the quarter was up 19.4% on a year-over-year basis. equities research analysts forecast that NOW Inc will post 0.3 earnings per share for the current year.
Several equities research analysts have issued reports on DNOW shares. Stifel Nicolaus lifted their price target on NOW from $15.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Zacks Investment Research raised NOW from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Tuesday, July 3rd. TheStreet raised NOW from a “d+” rating to a “c” rating in a research note on Wednesday, May 16th. Susquehanna Bancshares set a $16.00 price target on NOW and gave the stock a “hold” rating in a research note on Friday, August 3rd. Finally, Robert W. Baird reissued a “hold” rating and issued a $17.00 target price on shares of NOW in a research note on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.50.
NOW Company 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, measurement and control equipment, process equipment, pumps, OEM parts, coatings, mill supplies, and safety supplies, as well as provides application systems, work processes, parts integration, optimization solutions, and after-sales support services.
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