DNOW Inc. $DNOW Stock Position Lifted by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its stake in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 5.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,218,941 shares of the oil and gas company's stock after purchasing an additional 60,836 shares during the period. Allianz Asset Management GmbH owned about 1.15% of DNOW worth $18,077,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in DNOW during the first quarter valued at approximately $220,000. GAMMA Investing LLC grew its position 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 valued at $32,000 after purchasing an additional 1,022 shares in the last quarter. Inspire Investing LLC grew its position in DNOW by 118.9% during the first quarter. Inspire Investing LLC now owns 67,342 shares of the oil and gas company's stock valued at $1,150,000 after purchasing an additional 36,574 shares in the last quarter. Principal Financial Group Inc. grew its position in DNOW by 2.5% in the first quarter. Principal Financial Group Inc. now owns 526,101 shares of the oil and gas company's stock worth $8,986,000 after acquiring an additional 12,797 shares in the last quarter. Finally, Jane Street Group LLC grew its position in DNOW by 210.8% in the first quarter. Jane Street Group LLC now owns 738,843 shares of the oil and gas company's stock worth $12,619,000 after acquiring an additional 501,088 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Trading Up 0.1%

NYSE DNOW opened at $14.11 on Monday. The company has a fifty day simple moving average of $15.24 and a 200 day simple moving average of $15.10. The company has a market cap of $1.51 billion, a P/E ratio of 18.57 and a beta of 1.05. DNOW Inc. has a 1 year low of $11.54 and a 1 year high of $18.45.

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

Analyst Upgrades and Downgrades

Several research firms have commented on DNOW. Stifel Nicolaus decreased their target price on shares of DNOW from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, July 21st. Weiss Ratings reissued a "hold (c+)" rating on shares of DNOW in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of DNOW from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $18.00.

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.

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