Rhumbline Advisers Reduces Holdings in DNOW Inc. (NYSE:DNOW)

Rhumbline Advisers lowered its stake in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 311,592 shares of the oil and gas company's stock after selling 17,968 shares during the period. Rhumbline Advisers owned 0.29% of DNOW worth $5,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of DNOW by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company's stock valued at $27,212,000 after buying an additional 25,402 shares during the last quarter. Amundi raised its position in shares of DNOW by 186.4% during the fourth quarter. Amundi now owns 51,501 shares of the oil and gas company's stock valued at $667,000 after buying an additional 33,520 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of DNOW by 6.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company's stock valued at $23,985,000 after buying an additional 112,135 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of DNOW by 0.6% during the fourth quarter. Nuveen Asset Management LLC now owns 934,375 shares of the oil and gas company's stock valued at $12,156,000 after buying an additional 5,578 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of DNOW during the fourth quarter valued at approximately $2,887,000. Institutional investors own 97.63% of the company's stock.

DNOW Trading Up 2.6%

Shares of DNOW stock traded up $0.40 on Monday, reaching $15.47. The company's stock had a trading volume of 840,856 shares, compared to its average volume of 931,042. The stock's fifty day simple moving average is $15.25 and its 200-day simple moving average is $14.99. DNOW Inc. has a 1 year low of $11.42 and a 1 year high of $18.45. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 21.19 and a beta of 1.09.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of DNOW from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Stifel Nicolaus cut their target price on shares of DNOW from $20.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Susquehanna cut their target price 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.

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.