LPL Financial LLC Acquires 59,508 Shares of DNOW Inc. $DNOW

Key Points

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LPL Financial LLC increased its position in DNOW Inc. (NYSE:DNOW - Free Report) by 65.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,777 shares of the oil and gas company's stock after acquiring an additional 59,508 shares during the quarter. LPL Financial LLC owned about 0.14% of DNOW worth $2,558,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of DNOW. GAMMA Investing LLC raised its stake in 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 purchasing an additional 1,022 shares in the last quarter. Quarry LP raised its stake in DNOW by 69.2% in the fourth quarter. Quarry LP now owns 5,578 shares of the oil and gas company's stock valued at $73,000 after purchasing an additional 2,281 shares in the last quarter. CWM LLC raised its stake in DNOW by 111.0% in the first quarter. CWM LLC now owns 6,726 shares of the oil and gas company's stock valued at $115,000 after purchasing an additional 3,539 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of 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. Finally, Quantinno Capital Management LP purchased a new position in shares of DNOW during the fourth quarter worth approximately $166,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on DNOW shares. Zacks Research raised shares of DNOW to a "strong-buy" rating in a research note on Friday, August 8th. Stifel Nicolaus decreased their price target on shares of DNOW from $19.00 to $18.00 and set a "buy" rating on the stock in a research note on Monday, July 21st. Finally, Wall Street Zen raised shares of DNOW from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, DNOW currently has an average rating of "Buy" and an average price target of $18.00.

DNOW Stock Performance

Shares of NYSE DNOW traded up $0.91 during mid-day trading on Friday, hitting $15.93. The stock had a trading volume of 351,357 shares, compared to its average volume of 1,156,307. DNOW Inc. has a 1 year low of $11.42 and a 1 year high of $18.45. The business has a 50 day moving average price of $14.82 and a two-hundred day moving average price of $15.27. The firm has a market cap of $1.71 billion, a P/E ratio of 20.98 and a beta of 1.13.

DNOW (NYSE:DNOW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.05. The business had revenue of $628.00 million for the quarter, compared to analysts' expectations of $612.60 million. DNOW had a net margin of 3.45% and a return on equity of 8.97%. The firm's revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 earnings per share. Equities research analysts predict 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.