DNOW Inc. (NYSE:DNOW) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in DNOW Inc. (NYSE:DNOW - Free Report) by 4.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 702,386 shares of the oil and gas company's stock after selling 32,215 shares during the period. Bank of New York Mellon Corp owned about 0.66% of DNOW worth $11,997,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cooper Creek Partners Management LLC increased its position in DNOW by 138.7% during the 4th quarter. Cooper Creek Partners Management LLC now owns 579,074 shares of the oil and gas company's stock worth $7,534,000 after purchasing an additional 336,474 shares in the last quarter. Millennium Management LLC lifted its stake in shares of DNOW by 145.4% in the 4th quarter. Millennium Management LLC now owns 520,695 shares of the oil and gas company's stock valued at $6,774,000 after purchasing an additional 308,543 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of DNOW in the 4th quarter valued at about $3,903,000. Norges Bank acquired a new position in shares of DNOW in the 4th quarter valued at about $3,856,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of DNOW in the 4th quarter valued at about $3,055,000. Institutional investors and hedge funds own 97.63% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on DNOW shares. Susquehanna reduced their price target on DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus dropped their price objective on DNOW from $19.00 to $18.00 and set a "buy" rating on the stock in a report on Monday. Finally, Wall Street Zen upgraded DNOW from a "hold" rating to a "buy" rating in a report on Saturday, April 26th.

DNOW Stock Performance

Shares of NYSE DNOW traded up $0.19 during trading on Thursday, reaching $15.45. The stock had a trading volume of 1,384,468 shares, compared to its average volume of 1,584,609. DNOW Inc. has a one year low of $11.42 and a one year high of $18.45. The stock has a market cap of $1.63 billion, a PE ratio of 20.87 and a beta of 1.08. The firm's 50 day moving average price is $14.72 and its two-hundred day moving average price is $15.13.

DNOW (NYSE:DNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. DNOW had a return on equity of 9.00% and a net margin of 3.40%. The business had revenue of $599.00 million during the quarter, compared to the consensus estimate of $587.17 million. During the same period in the previous year, the business earned $0.21 EPS. The business's quarterly revenue was up 6.4% on a year-over-year basis. On average, research analysts expect that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW Company Profile

DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical 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 artificial lift systems, coatings, and miscellaneous expendable items.