NOW Inc. (NYSE:DNOW) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of NOW Inc. (NYSE:DNOW – Get Rating) by 12.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 703,905 shares of the oil and gas company’s stock after selling 103,580 shares during the period. Victory Capital Management Inc. owned 0.64% of NOW worth $8,997,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. LPL Financial LLC raised its position in shares of NOW by 1.2% during the 4th quarter. LPL Financial LLC now owns 67,371 shares of the oil and gas company’s stock valued at $856,000 after buying an additional 781 shares during the period. Arizona State Retirement System raised its position in shares of NOW by 4.0% during the 4th quarter. Arizona State Retirement System now owns 31,279 shares of the oil and gas company’s stock valued at $397,000 after buying an additional 1,194 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of NOW by 0.8% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 166,993 shares of the oil and gas company’s stock valued at $1,678,000 after buying an additional 1,386 shares during the period. Yousif Capital Management LLC raised its position in shares of NOW by 1.8% during the 1st quarter. Yousif Capital Management LLC now owns 103,398 shares of the oil and gas company’s stock valued at $1,140,000 after buying an additional 1,790 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of NOW by 14.7% during the 4th quarter. ProShare Advisors LLC now owns 17,414 shares of the oil and gas company’s stock valued at $221,000 after buying an additional 2,236 shares during the period. 95.89% of the stock is currently owned by institutional investors and hedge funds.

NOW Trading Up 0.3 %

NOW stock opened at $9.67 on Friday. NOW Inc. has a twelve month low of $8.79 and a twelve month high of $14.86. The stock’s fifty day simple moving average is $10.24 and its 200-day simple moving average is $11.88. The firm has a market capitalization of $1.03 billion, a P/E ratio of 8.48 and a beta of 1.61.

NOW (NYSE:DNOW – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The oil and gas company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. NOW had a return on equity of 14.67% and a net margin of 5.74%. The business had revenue of $584.00 million for the quarter, compared to analyst estimates of $566.63 million. During the same quarter in the prior year, the company earned $0.14 earnings per share. The company’s revenue was up 23.5% on a year-over-year basis. Sell-side analysts predict that NOW Inc. will post 1.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DNOW shares. Susquehanna cut their target price on NOW from $14.00 to $12.50 in a research report on Monday, April 3rd. StockNews.com started coverage on NOW in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. TheStreet raised NOW from a “c+” rating to a “b” rating in a research report on Friday, May 12th. Finally, Stifel Nicolaus cut their target price on NOW from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, April 17th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.83.

About NOW

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NOW Inc is a holding company, which engages in the distribution of energy products for industrial applications. It operates through the following segments: United States, Canada, and International. The United States segment serves the upstream, midstream and downstream energy, and industrial markets.