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Charles Schwab Investment Management Inc. Sells 43,501 Shares of NOW Inc (NYSE:DNOW)

By September 17, 2019 No Comments

Charles Schwab Investment Management Inc. decreased its holdings in NOW Inc (NYSE:DNOW) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,439,107 shares of the oil and gas company’s stock after selling 43,501 shares during the period. Charles Schwab Investment Management Inc. owned about 1.32% of NOW worth $21,242,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Baillie Gifford & Co. increased its holdings in shares of NOW by 6.9% in the 2nd quarter. Baillie Gifford & Co. now owns 16,516,800 shares of the oil and gas company’s stock worth $243,788,000 after purchasing an additional 1,064,031 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of NOW by 4.1% in the first quarter. Clearbridge Investments LLC now owns 9,467,335 shares of the oil and gas company’s stock worth $132,164,000 after acquiring an additional 375,350 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of NOW by 15.7% in the second quarter. JPMorgan Chase & Co. now owns 2,112,701 shares of the oil and gas company’s stock worth $30,317,000 after acquiring an additional 287,223 shares during the period. Marathon Asset Management LLP grew its holdings in shares of NOW by 34.2% in the second quarter. Marathon Asset Management LLP now owns 1,133,661 shares of the oil and gas company’s stock worth $16,732,000 after acquiring an additional 289,033 shares during the period. Finally, Raymond James & Associates grew its holdings in shares of NOW by 3.0% in the first quarter. Raymond James & Associates now owns 402,335 shares of the oil and gas company’s stock worth $5,617,000 after acquiring an additional 11,600 shares during the period.

NYSE:DNOW opened at $12.27 on Monday. The stock has a 50-day simple moving average of $11.95 and a two-hundred day simple moving average of $13.60. NOW Inc has a 52-week low of $10.36 and a 52-week high of $17.18. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.28 and a current ratio of 2.55. The firm has a market capitalization of $1.34 billion, a PE ratio of 26.21 and a beta of 1.41.

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

Several brokerages recently commented on DNOW. Stifel Nicolaus cut their price objective on NOW from $15.00 to $14.00 and set a “hold” rating for the company in a report on Monday, July 15th. Zacks Investment Research raised NOW from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. ValuEngine lowered NOW from a “hold” rating to a “sell” rating in a report on Tuesday, July 16th. Cowen reissued 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. Finally, Capital One Financial raised 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. NOW presently has an average rating of “Hold” and a consensus target price of $13.80.

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, 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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