Exchange Traded Concepts LLC Trims Stake in DNOW Inc. (NYSE:DNOW)

Exchange Traded Concepts LLC cut its holdings in DNOW Inc. (NYSE:DNOW - Free Report) by 20.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 0.06% of DNOW worth $1,152,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in DNOW by 122.1% in the 1st quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company's stock valued at $32,000 after acquiring an additional 1,022 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in DNOW by 78.7% in 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 acquiring an additional 885 shares in the last quarter. Quarry LP lifted its position in 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 acquiring an additional 2,281 shares in the last quarter. Quantinno Capital Management LP bought a new position in DNOW in the 4th quarter valued at approximately $166,000. Finally, Polymer Capital Management US LLC purchased a new stake in DNOW during the 4th quarter valued at $192,000. 97.63% of the stock is owned by institutional investors.

DNOW Stock Up 1.3%

DNOW traded up $0.20 during mid-day trading on Friday, reaching $15.20. 2,382,046 shares of the company traded hands, compared to its average volume of 914,159. The stock has a market capitalization of $1.60 billion, a P/E ratio of 20.53 and a beta of 1.09. The company's fifty day moving average price is $15.22 and its 200-day moving average price is $14.99. 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 announced 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. The business had revenue of $599.00 million during the quarter, compared to analyst estimates of $587.17 million. DNOW had a net margin of 3.40% and a return on equity of 9.00%. The company's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 EPS. As a group, sell-side analysts forecast that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

DNOW has been the subject of a number of research reports. Wall Street Zen upgraded shares of DNOW from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Stifel Nicolaus decreased their target price on shares of DNOW from $20.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Susquehanna decreased their target price on shares of DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a research note 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.