Rhumbline Advisers Sells 17,968 Shares of DNOW Inc. (NYSE:DNOW)

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in DNOW by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company's stock worth $26,000 after buying an additional 885 shares during the period. Quarry LP boosted its holdings in shares of DNOW by 69.2% in the 4th 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. Quantinno Capital Management LP acquired a new stake in DNOW in the fourth quarter valued at about $166,000. Polymer Capital Management US LLC bought a new stake in shares of DNOW during the 4th quarter valued at approximately $192,000. Finally, Man Group plc bought a new stake in shares of DNOW during the fourth quarter worth $203,000. Institutional investors own 97.63% of the company's stock.

Analysts Set New Price Targets

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

DNOW Stock Up 0.1%

Shares of NYSE DNOW traded up $0.01 during trading on Friday, reaching $15.05. The company had a trading volume of 775,694 shares, compared to its average volume of 930,740. The stock has a market cap of $1.59 billion, a P/E ratio of 20.62 and a beta of 1.09. The company's fifty day moving average price is $15.20 and its 200-day moving average price is $14.98. DNOW Inc. has a 12 month low of $11.42 and a 12 month high of $18.45.

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

DNOW Company 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.