Deutsche Bank AG Reduces Stock Holdings in DNOW Inc. $DNOW

Key Points

• Deutsche Bank AG has significantly reduced its stake in DNOW Inc. by 39.4%, now holding 110,975 shares valued at approximately $1.9 million as of the latest SEC filing.
• Multiple institutional investors have increased their holdings in DNOW, with Allspring Global Investments purchasing a new position worth $220,000 during the same quarter.
• DNOW reported $0.27 EPS for the most recent quarter, surpassing analyst expectations and indicating a net margin of 3.45% despite a slight revenue decline year-over-year.

Deutsche Bank AG lessened its holdings in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 39.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,975 shares of the oil and gas company's stock after selling 72,045 shares during the quarter. Deutsche Bank AG owned 0.11% of DNOW worth $1,895,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its position 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 valued at $32,000 after buying an additional 1,022 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of DNOW during the first quarter valued at about $58,000. Quarry LP raised its stake in shares of DNOW by 69.2% in the fourth quarter. Quarry LP now owns 5,578 shares of the oil and gas company's stock worth $73,000 after purchasing an additional 2,281 shares during the last quarter. CWM LLC grew its position in DNOW by 111.0% in the 1st quarter. CWM LLC now owns 6,726 shares of the oil and gas company's stock worth $115,000 after purchasing an additional 3,539 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in DNOW by 15.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 7,825 shares of the oil and gas company's stock worth $134,000 after buying an additional 1,073 shares during the period. Institutional investors own 97.63% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Stifel Nicolaus decreased their target price on shares of DNOW from $19.00 to $18.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Zacks Research raised shares of DNOW to a "strong-buy" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $18.00.

DNOW Stock Performance

Shares of DNOW stock traded up $0.26 on Tuesday, hitting $15.92. 218,232 shares of the stock traded hands, compared to its average volume of 1,152,290. The firm's 50-day moving average price is $14.84 and its two-hundred day moving average price is $15.30. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45. The stock has a market capitalization of $1.70 billion, a PE ratio of 20.93 and a beta of 1.13.

DNOW (NYSE:DNOW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.05. DNOW had a net margin of 3.45% and a return on equity of 8.97%. The company had revenue of $628.00 million for the quarter, compared to analyst estimates of $612.60 million. During the same period in the prior year, the firm earned $0.25 earnings per share. The business's revenue for the quarter was down .8% compared to the same quarter last year. On average, equities research analysts anticipate that DNOW Inc. will post 0.86 EPS for the current fiscal year.

About DNOW

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.