NOW Inc. (NYSE:DNOW) Shares Sold by Putnam Investments LLC

Putnam Investments LLC reduced its position in NOW Inc. (NYSE:DNOW – Get Rating) by 27.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 138,537 shares of the oil and gas company’s stock after selling 53,622 shares during the quarter. Putnam Investments LLC’s holdings in NOW were worth $1,392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. acquired a new stake in shares of NOW during the third quarter worth $36,000. Captrust Financial Advisors lifted its holdings in shares of NOW by 173.7% during the first quarter. Captrust Financial Advisors now owns 5,973 shares of the oil and gas company’s stock worth $66,000 after purchasing an additional 3,791 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of NOW during the second quarter worth $62,000. PNC Financial Services Group Inc. lifted its holdings in shares of NOW by 60.9% during the first quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the oil and gas company’s stock worth $75,000 after purchasing an additional 2,546 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in shares of NOW during the third quarter worth $108,000. 95.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DNOW has been the subject of several recent research reports. Susquehanna increased their price target on NOW from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Friday, February 17th. TheStreet upgraded NOW from a “c+” rating to a “b-” rating in a research report on Monday, December 12th. Finally, StockNews.com cut NOW from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 17th.

NOW Stock Performance

NYSE:DNOW opened at $11.10 on Tuesday. The stock has a fifty day moving average price of $13.06 and a two-hundred day moving average price of $12.28. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 9.82 and a beta of 1.61. NOW Inc. has a 1 year low of $8.79 and a 1 year high of $14.86.

NOW (NYSE:DNOW – Get Rating) last announced its quarterly earnings results on Thursday, February 16th. The oil and gas company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. NOW had a return on equity of 13.49% and a net margin of 5.99%. The business had revenue of $547.00 million during the quarter, compared to analysts’ expectations of $530.77 million. During the same quarter last year, the business posted $0.07 earnings per share. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, analysts predict that NOW Inc. will post 1.01 EPS for the current year.

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.