Exchange Traded Concepts LLC reduced its stake in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 20.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,472 shares of the oil and gas company's stock after selling 17,238 shares during the quarter. Exchange Traded Concepts LLC owned about 0.06% of DNOW worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in DNOW. Principal Financial Group Inc. grew its holdings in DNOW by 2.3% during the 4th quarter. Principal Financial Group Inc. now owns 513,304 shares of the oil and gas company's stock valued at $6,678,000 after buying an additional 11,441 shares in the last quarter. Versor Investments LP grew its holdings in DNOW by 43.0% during the 4th quarter. Versor Investments LP now owns 51,234 shares of the oil and gas company's stock valued at $667,000 after buying an additional 15,400 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings 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 valued at $26,000 after buying an additional 885 shares in the last quarter. Bailard Inc. purchased a new stake in DNOW during the 4th quarter valued at approximately $511,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in DNOW by 1.2% during the 4th 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 in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.
DNOW Stock Performance
DNOW stock opened at $14.95 on Thursday. The firm has a fifty day moving average price of $15.23 and a 200 day moving average price of $14.99. DNOW Inc. has a fifty-two week low of $11.42 and a fifty-two week high of $18.45. The firm has a market cap of $1.58 billion, a PE ratio of 20.21 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 3.40% and a return on equity of 9.00%. 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. On average, equities analysts predict that DNOW Inc. will post 0.86 EPS for the current year.
Analyst Ratings Changes
DNOW has been the subject of a number of research analyst reports. Wall Street Zen raised shares of DNOW from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Stifel Nicolaus cut their price objective 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.
Get Our Latest Report on DNOW
DNOW Company Profile
(
Free Report)
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.
Further Reading
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