Deutsche Bank AG Sells 72,045 Shares of 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 decreased its holdings in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 39.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in DNOW by 122.1% during 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 in the last quarter. New Age Alpha Advisors LLC acquired a new position in DNOW during the first quarter worth about $58,000. Quarry LP raised its stake in DNOW by 69.2% during the fourth quarter. Quarry LP now owns 5,578 shares of the oil and gas company's stock worth $73,000 after acquiring an additional 2,281 shares in the last quarter. CWM LLC raised its stake in DNOW by 111.0% during the first quarter. CWM LLC now owns 6,726 shares of the oil and gas company's stock worth $115,000 after acquiring an additional 3,539 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in DNOW by 15.9% during 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 in the last quarter. Institutional investors and hedge funds own 97.63% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Stifel Nicolaus lowered their price objective on DNOW from $19.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, July 21st. Zacks Research raised DNOW to a "strong-buy" rating in a research note on Friday, August 8th. One research 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's stock. According to data from MarketBeat.com, DNOW currently has an average rating of "Buy" and an average target price of $18.00.

DNOW Trading Up 0.3%

DNOW stock traded up $0.06 during trading on Wednesday, hitting $15.96. The company had a trading volume of 705,891 shares, compared to its average volume of 1,282,161. The business has a 50-day moving average of $14.87 and a 200-day moving average of $15.31. 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 $1.71 billion, a PE ratio of 20.99 and a beta of 1.13.

DNOW (NYSE:DNOW - Get Free Report) last announced its 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 business had revenue of $628.00 million for the quarter, compared to analysts' expectations of $612.60 million. During the same period in the prior year, the business posted $0.25 earnings per share. The firm's revenue was down .8% on a year-over-year basis. Research analysts forecast that DNOW Inc. will post 0.86 EPS 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.