DNOW Inc. (NYSE:DNOW) Shares Sold by Global Alpha Capital Management Ltd.

Key Points

• Global Alpha Capital Management Ltd. has reduced its holdings in DNOW Inc. by 13.4%, owning approximately 2.8% of the company, valued at $38.70 million after selling 349,500 shares.
• Analysts have mixed ratings for DNOW, with Wall Street Zen upgrading the stock from "hold" to "buy," while others have lowered their price targets.
• DNOW reported better-than-expected earnings with a quarterly EPS of $0.27, exceeding consensus estimates, despite a slight revenue decline of 0.8% compared to the previous year.

Global Alpha Capital Management Ltd. lessened its holdings in DNOW Inc. (NYSE:DNOW - Free Report) by 13.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,266,026 shares of the oil and gas company's stock after selling 349,500 shares during the quarter. DNOW accounts for approximately 2.8% of Global Alpha Capital Management Ltd.'s investment portfolio, making the stock its 13th biggest holding. Global Alpha Capital Management Ltd. owned 2.14% of DNOW worth $38,704,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd raised its holdings in DNOW by 437.2% in the 1st quarter. Covestor Ltd now owns 4,507 shares of the oil and gas company's stock valued at $76,000 after buying an additional 3,668 shares during the last quarter. Headlands Technologies LLC boosted its holdings in shares of DNOW by 21,663.6% in the 1st quarter. Headlands Technologies LLC now owns 2,394 shares of the oil and gas company's stock worth $41,000 after buying an additional 2,383 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in DNOW during the first quarter valued at about $58,000. Jefferies Financial Group Inc. purchased a new stake in shares of DNOW in the first quarter worth about $617,000. Finally, XTX Topco Ltd bought a new position in shares of DNOW in the first quarter worth approximately $518,000. 97.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DNOW shares. Stifel Nicolaus reduced their price objective on DNOW from $19.00 to $18.00 and set a "buy" rating for the company in a report on Monday, July 21st. Susquehanna dropped their price target on DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Wall Street Zen raised DNOW from a "hold" rating to a "buy" rating in a report on Saturday, April 26th.

DNOW Trading Down 3.9%

Shares of NYSE:DNOW traded down $0.58 on Monday, reaching $14.39. 1,111,806 shares of the company's stock were exchanged, compared to its average volume of 1,605,059. The company has a fifty day moving average of $14.82 and a 200-day moving average of $15.29. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 18.93 and a beta of 1.13.

DNOW (NYSE:DNOW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. DNOW had a net margin of 3.45% and a return on equity of 8.97%. The business had revenue of $628.00 million for the quarter, compared to analysts' expectations of $612.60 million. During the same period in the previous year, the company earned $0.25 earnings per share. The firm's revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities research analysts forecast that DNOW Inc. will post 0.86 EPS for the current fiscal year.

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.