Northern Trust Corp Decreases Stock Position in DNOW Inc. $DNOW

Northern Trust Corp lowered its holdings in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,208,609 shares of the oil and gas company's stock after selling 17,158 shares during the quarter. Northern Trust Corp owned 1.14% of DNOW worth $20,643,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. SummerHaven Investment Management LLC boosted its holdings in DNOW by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 60,319 shares of the oil and gas company's stock valued at $1,030,000 after acquiring an additional 966 shares during the period. GAMMA Investing LLC boosted its holdings in DNOW by 122.1% during 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 during the period. Nisa Investment Advisors LLC boosted its holdings in DNOW by 15.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 7,825 shares of the oil and gas company's stock valued at $134,000 after acquiring an additional 1,073 shares during the period. CoreCommodity Management LLC boosted its holdings in DNOW by 1.4% during the 4th quarter. CoreCommodity Management LLC now owns 95,471 shares of the oil and gas company's stock valued at $1,242,000 after acquiring an additional 1,364 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in DNOW by 1.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 81,390 shares of the oil and gas company's stock valued at $1,390,000 after acquiring an additional 1,467 shares during the period. Hedge funds and other institutional investors own 97.63% of the company's stock.

DNOW Trading Down 0.3%

Shares of DNOW traded down $0.05 during midday trading on Friday, reaching $15.96. 875,565 shares of the stock were exchanged, compared to its average volume of 894,387. DNOW Inc. has a 52 week low of $11.42 and a 52 week high of $18.45. The company's 50 day moving average is $14.98 and its two-hundred day moving average is $15.30. The company has a market capitalization of $1.71 billion, a P/E ratio of 21.00 and a beta of 1.21.

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

Analyst Ratings Changes

A number of research firms recently issued reports on DNOW. Zacks Research upgraded DNOW to a "strong-buy" rating in a report on Friday, August 8th. Stifel Nicolaus dropped 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. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, DNOW presently has a consensus rating of "Buy" and an average price target of $18.00.

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.