DNOW Inc. (NYSE:DNOW) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its stake in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 11.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 611,943 shares of the oil and gas company's stock after selling 78,529 shares during the period. Ameriprise Financial Inc. owned about 0.58% of DNOW worth $7,961,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DNOW. Algert Global LLC grew its holdings in DNOW by 2.1% in the fourth quarter. Algert Global LLC now owns 111,137 shares of the oil and gas company's stock valued at $1,446,000 after purchasing an additional 2,317 shares during the period. Jane Street Group LLC grew its holdings in DNOW by 428.4% in the fourth quarter. Jane Street Group LLC now owns 237,755 shares of the oil and gas company's stock valued at $3,093,000 after purchasing an additional 192,757 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in DNOW in the fourth quarter valued at approximately $270,000. Northern Trust Corp grew its holdings in DNOW by 8.7% in the fourth quarter. Northern Trust Corp now owns 1,225,767 shares of the oil and gas company's stock valued at $15,947,000 after purchasing an additional 98,437 shares during the period. Finally, Tudor Investment Corp ET AL grew its holdings in DNOW by 285.7% in the fourth quarter. Tudor Investment Corp ET AL now owns 195,482 shares of the oil and gas company's stock valued at $2,543,000 after purchasing an additional 144,796 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Stock Up 1.4%

NYSE:DNOW traded up $0.21 on Tuesday, reaching $14.77. The company's stock had a trading volume of 857,458 shares, compared to its average volume of 936,352. DNOW Inc. has a 12-month low of $11.42 and a 12-month high of $18.45. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 20.23 and a beta of 1.20. The stock has a 50 day moving average price of $15.64 and a 200 day moving average price of $14.99.

DNOW (NYSE:DNOW - Get Free Report) last posted its earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. DNOW had a return on equity of 9.04% and a net margin of 3.41%. The company had revenue of $599.00 million for the quarter, compared to the consensus estimate of $587.17 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. The company's revenue for the quarter was up 6.4% on a year-over-year basis. Equities research analysts expect that DNOW Inc. will post 0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Stifel Nicolaus dropped their price objective on DNOW from $20.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Wall Street Zen upgraded DNOW from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Finally, Susquehanna decreased their target price on DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th.

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.