American Century Companies Inc. Cuts Stake in NOW Inc. (NYSE:DNOW)

Posted by on Aug 29th, 2023

American Century Companies Inc. reduced its stake in shares of NOW Inc. (NYSE:DNOW – Free Report) by 30.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,048,417 shares of the oil and gas company’s stock after selling 1,331,744 shares during the period. American Century Companies Inc. owned 2.85% of NOW worth $33,960,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. LPL Financial LLC lifted its holdings 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 worth $856,000 after acquiring an additional 781 shares during the period. Arizona State Retirement System increased its position in 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 worth $397,000 after purchasing an additional 1,194 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in 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 worth $1,678,000 after purchasing an additional 1,386 shares in the last quarter. Eagle Asset Management Inc. increased its position in NOW by 0.3% during the 1st quarter. Eagle Asset Management Inc. now owns 481,712 shares of the oil and gas company’s stock worth $5,371,000 after purchasing an additional 1,638 shares in the last quarter. Finally, Yousif Capital Management LLC increased its position in 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 worth $1,140,000 after purchasing an additional 1,790 shares in the last quarter. 95.50% of the stock is currently owned by hedge funds and other institutional investors.

NOW Stock Up 1.2 %

Shares of NYSE:DNOW opened at $11.07 on Tuesday. NOW Inc. has a 52-week low of $8.83 and a 52-week high of $14.86. The company has a 50 day moving average of $10.81 and a two-hundred day moving average of $10.81. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.07 and a beta of 1.62.

NOW (NYSE:DNOW – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). NOW had a net margin of 5.95% and a return on equity of 14.00%. The firm had revenue of $594.00 million during the quarter, compared to analyst estimates of $592.30 million. During the same period last year, the business earned $0.26 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, equities analysts anticipate that NOW Inc. will post 0.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

DNOW has been the subject of a number of research analyst reports. TheStreet raised shares of NOW from a “c+” rating to a “b” rating in a research report on Friday, May 12th. StockNews.com initiated coverage on shares of NOW in a research report on Friday, August 18th. They set a “buy” rating for the company.

Read Our Latest Analysis on NOW

NOW Profile

(Free Report)

NOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and industrial manufacturing operations in the United States, Canada, and internationally. It offers its products under the DistributionNOW and DNOW brand names.

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Institutional Ownership by Quarter for NOW (NYSE:DNOW)

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