LPL Financial LLC Acquires 1,049 Shares of NOW Inc. (NYSE:DNOW)

LPL Financial LLC boosted its holdings in NOW Inc. (NYSE:DNOW) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,504 shares of the oil and gas company’s stock after acquiring an additional 1,049 shares during the quarter. LPL Financial LLC owned 0.07% of NOW worth $782,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DNOW. SeaBridge Investment Advisors LLC increased its position in shares of NOW by 11.6% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 76,628 shares of the oil and gas company’s stock valued at $794,000 after purchasing an additional 7,979 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of NOW by 7.9% during the 2nd quarter. Victory Capital Management Inc. now owns 709,480 shares of the oil and gas company’s stock valued at $7,350,000 after purchasing an additional 52,018 shares during the last quarter. Olympiad Research LP increased its position in shares of NOW by 7.2% during the 2nd quarter. Olympiad Research LP now owns 19,715 shares of the oil and gas company’s stock valued at $204,000 after purchasing an additional 1,330 shares during the last quarter. Meitav Investment House Ltd. bought a new position in shares of NOW during the 2nd quarter valued at about $2,450,000. Finally, River Road Asset Management LLC bought a new position in shares of NOW during the 2nd quarter valued at about $7,790,000. 95.50% of the stock is currently owned by institutional investors.

NOW Price Performance

Shares of DNOW stock opened at $10.40 on Tuesday. The stock has a market capitalization of $1.11 billion, a PE ratio of 8.74 and a beta of 1.51. NOW Inc. has a 1-year low of $8.83 and a 1-year high of $14.86. The business has a 50-day moving average of $11.28 and a 200 day moving average of $10.73.

Analyst Ratings Changes

Several brokerages have recently commented on DNOW. Susquehanna increased their price objective on NOW from $10.50 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, October 4th. StockNews.com initiated coverage on NOW in a report on Thursday, October 5th. They set a “buy” rating for the company. Finally, Stifel Nicolaus increased their target price on NOW from $13.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, September 28th.

About NOW

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.