Tudor Investment Corp Et Al Acquires 27,399 Shares of NOW Inc. (NYSE:DNOW)

Posted by on Mar 8th, 2023

Tudor Investment Corp Et Al lifted its holdings in NOW Inc. (NYSE:DNOW – Get Rating) by 226.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,514 shares of the oil and gas company’s stock after acquiring an additional 27,399 shares during the period. Tudor Investment Corp Et Al’s holdings in NOW were worth $397,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Point72 Hong Kong Ltd raised its position in NOW by 79.2% in the 3rd quarter. Point72 Hong Kong Ltd now owns 11,437 shares of the oil and gas company’s stock worth $115,000 after purchasing an additional 5,053 shares during the period. Verition Fund Management LLC purchased a new stake in NOW in the 3rd quarter worth about $173,000. Nuveen Asset Management LLC raised its position in NOW by 0.9% in the 3rd quarter. Nuveen Asset Management LLC now owns 2,055,660 shares of the oil and gas company’s stock worth $20,659,000 after purchasing an additional 19,004 shares during the period. AXA S.A. purchased a new stake in NOW in the 3rd quarter worth about $298,000. Finally, MetLife Investment Management LLC raised its position in NOW by 11.3% in the 3rd quarter. MetLife Investment Management LLC now owns 64,420 shares of the oil and gas company’s stock worth $647,000 after purchasing an additional 6,528 shares during the period. Institutional investors own 95.89% of the company’s stock.

NOW Stock Down 1.2 %

Shares of DNOW stock opened at $12.60 on Wednesday. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 11.15 and a beta of 1.61. The company’s 50 day moving average is $13.13 and its 200 day moving average is $12.28. NOW Inc. has a 52-week low of $8.79 and a 52-week high of $14.86.

NOW (NYSE:DNOW – Get Rating) last issued its quarterly earnings data on Thursday, February 16th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.06. The company had revenue of $547.00 million for the quarter, compared to analyst estimates of $530.77 million. NOW had a net margin of 5.99% and a return on equity of 13.49%. NOW’s revenue was up 26.6% compared to the same quarter last year. During the same period last year, the company posted $0.07 earnings per share. Analysts anticipate that NOW Inc. will post 0.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Susquehanna increased their price objective on shares of NOW from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, February 17th. StockNews.com lowered shares of NOW from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 17th. Finally, TheStreet raised shares of NOW from a “c+” rating to a “b-” rating in a research report on Monday, December 12th.

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.

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Institutional Ownership by Quarter for NOW (NYSE:DNOW)

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