Victory Capital Management Inc. Has $3.45 Million Stake in DNOW Inc. (NYSE:DNOW)

Key Points

• Victory Capital Management Inc. increased its stake in DNOW Inc. by 113.6% during the first quarter, now owning over 202,000 shares valued at approximately $3.45 million.
• Other institutional investors, including Cooper Creek Partners and Millennium Management, also significantly increased their positions in DNOW, indicating strong institutional interest.
• DNOW reported better-than-expected earnings with an EPS of $0.22, surpassing estimates, while revenue increased 6.4% year-over-year to reach $599 million.

Victory Capital Management Inc. increased its holdings in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 113.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 202,092 shares of the oil and gas company's stock after acquiring an additional 107,485 shares during the quarter. Victory Capital Management Inc. owned approximately 0.19% of DNOW worth $3,452,000 at the end of the most recent quarter.

Other institutional investors and hedge funds 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 during the period. Quarry LP increased 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 valued at $73,000 after purchasing an additional 2,281 shares during the period. CWM LLC increased its stake in shares of 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 during the period. 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 valued at $134,000 after purchasing an additional 1,073 shares during the period. Finally, Quantinno Capital Management LP acquired a new stake in shares of DNOW in the fourth quarter valued at approximately $166,000. Institutional investors and hedge funds own 97.63% of the company's stock.

Wall Street Analysts Forecast Growth

DNOW has been the topic of several analyst reports. Stifel Nicolaus dropped 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. Wall Street Zen upgraded shares of DNOW from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Finally, Susquehanna decreased their price objective on shares of DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, April 14th.

DNOW Price Performance

Shares of DNOW stock traded down $0.24 on Thursday, hitting $15.48. The company had a trading volume of 439,603 shares, compared to its average volume of 1,130,310. The business has a 50-day simple moving average of $14.77 and a 200-day simple moving average of $15.21. The company has a market cap of $1.63 billion, a PE ratio of 20.97 and a beta of 1.08. DNOW Inc. has a 52 week low of $11.42 and a 52 week high of $18.45.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. The business had revenue of $599.00 million during the quarter, compared to analysts' expectations of $587.17 million. DNOW had a net margin of 3.40% and a return on equity of 9.00%. The business's revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $0.21 earnings per share. On average, equities research analysts predict that DNOW Inc. will post 0.86 earnings per share for the current fiscal 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.