The Trexquant Investment LP Has 24,895 shares in NOW Inc (NYSE:DNOW)
June 03, 2020
Trexquant Investment LP trimmed its position in NOW Inc (NYSE:DNOW) by 48.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,895 shares of the oil and gas company’s stock after selling 23,341 shares during the period. Trexquant Investment LP’s holdings in NOW were worth $128,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of NOW by 4.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,670,530 shares of the oil and gas company’s stock valued at $74,977,000 after purchasing an additional 299,752 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of NOW by 88.6% in the fourth quarter. Renaissance Technologies LLC now owns 2,322,524 shares of the oil and gas company’s stock valued at $26,105,000 after purchasing an additional 1,091,338 shares in the last quarter. Black Creek Investment Management Inc. lifted its holdings in shares of NOW by 4.2% in the fourth quarter. Black Creek Investment Management Inc. now owns 1,929,000 shares of the oil and gas company’s stock valued at $21,682,000 after purchasing an additional 78,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of NOW by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,571,402 shares of the oil and gas company’s stock valued at $17,663,000 after purchasing an additional 57,053 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of NOW by 0.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,543,130 shares of the oil and gas company’s stock valued at $17,345,000 after purchasing an additional 11,940 shares in the last quarter. Institutional investors own 99.36% of the company’s stock.
NYSE:DNOW opened at $7.44 on Wednesday. The company has a quick ratio of 1.52, a current ratio of 2.65 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average price is $6.24 and its two-hundred day moving average price is $8.76. The firm has a market capitalization of $813.25 million, a price-to-earnings ratio of 148.80 and a beta of 1.90. NOW Inc has a 12-month low of $4.05 and a 12-month high of $15.33.
NOW (NYSE:DNOW) last released its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The business had revenue of $604.00 million during the quarter, compared to the consensus estimate of $622.12 million. NOW had a negative net margin of 16.10% and a positive return on equity of 0.45%. NOW’s quarterly revenue was down 23.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. Equities research analysts expect that NOW Inc will post -0.68 EPS for the current year.
DNOW has been the topic of several analyst reports. ValuEngine upgraded NOW from a “hold” rating to a “buy” rating in a report on Thursday, May 7th. Stephens reiterated an “overweight” rating and set a $9.00 target price (down previously from $12.00) on shares of NOW in a report on Friday, April 3rd. Cowen upgraded NOW from a “market perform” rating to an “outperform” rating and set a $8.00 target price on the stock in a report on Tuesday, April 14th. TheStreet lowered NOW from a “c” rating to a “d+” rating in a report on Wednesday, February 19th. Finally, Zacks Investment Research upgraded NOW from a “sell” rating to a “hold” rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. NOW currently has a consensus rating of “Buy” and a consensus price target of $12.33.
About NOW
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.