Charles Schwab Investment Management Inc. Has $34.53 Million Stock Position in DNOW Inc. $DNOW

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in DNOW Inc. by 3.4% during the first quarter, now owning 2,021,460 shares worth $34.5 million.
• Other institutional investors also adjusted their positions, with SummerHaven Investment Management increasing its holdings by 1.6% and GAMMA Investing boosting theirs by 122.1%.
• DNOW Inc. reported earnings of $0.27 per share, beating expectations, while its revenue was down 0.8% year-over-year.

Charles Schwab Investment Management Inc. decreased its holdings in DNOW Inc. (NYSE:DNOW - Free Report) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,021,460 shares of the oil and gas company's stock after selling 70,200 shares during the period. Charles Schwab Investment Management Inc. owned about 1.91% of DNOW worth $34,527,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC increased its stake in DNOW by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 60,319 shares of the oil and gas company's stock valued at $1,030,000 after buying an additional 966 shares during the period. GAMMA Investing LLC increased its stake in shares of DNOW by 122.1% in the first quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company's stock worth $32,000 after acquiring an additional 1,022 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of DNOW by 15.9% in the first quarter. Nisa Investment Advisors LLC now owns 7,825 shares of the oil and gas company's stock worth $134,000 after acquiring an additional 1,073 shares during the last quarter. CoreCommodity Management LLC increased its stake in shares of DNOW by 1.4% in the fourth quarter. CoreCommodity Management LLC now owns 95,471 shares of the oil and gas company's stock worth $1,242,000 after acquiring an additional 1,364 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in DNOW by 1.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 81,390 shares of the oil and gas company's stock worth $1,390,000 after purchasing an additional 1,467 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Zacks Research raised DNOW to a "strong-buy" rating in a research report on Friday, August 8th. Wall Street Zen upgraded DNOW from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Finally, 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, July 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $18.00.

DNOW Stock Performance

Shares of NYSE DNOW traded up $0.8050 during mid-day trading on Friday, reaching $15.8250. 907,015 shares of the company traded hands, compared to its average volume of 1,345,881. DNOW Inc. has a fifty-two week low of $11.42 and a fifty-two week high of $18.45. The company's fifty day moving average is $14.84 and its two-hundred day moving average is $15.28. The stock has a market cap of $1.69 billion, a PE ratio of 20.82 and a beta of 1.13.

DNOW (NYSE:DNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. DNOW had a return on equity of 8.97% and a net margin of 3.45%.The company had revenue of $628.00 million for the quarter, compared to the consensus estimate of $612.60 million. During the same quarter last year, the company posted $0.25 earnings per share. The company's revenue for the quarter was down .8% compared to the same quarter last year. Research analysts forecast that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW 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.