Vanguard Group Inc. Has $200.73 Million Holdings in DNOW Inc. $DNOW

Key Points

• Vanguard Group Inc. reduced its stake in DNOW Inc. by 1.4%, selling 163,381 shares, leaving it with approximately 11.12% ownership valued at $200.73 million as of its last SEC filing.
• Several institutional investors increased their positions in DNOW, with GAMMA Investing LLC growing its stake by 122.1% in the 1st quarter, highlighting active interest in the company's stock.
• DNOW recently received upgrades from analysts, with Zacks Research labeling it a "strong-buy," reflecting positive market sentiment about the stock's potential performance.

Vanguard Group Inc. decreased its holdings in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,752,398 shares of the oil and gas company's stock after selling 163,381 shares during the quarter. Vanguard Group Inc. owned about 11.12% of DNOW worth $200,731,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in DNOW. GAMMA Investing LLC boosted its stake 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 purchasing an additional 1,022 shares during the period. New Age Alpha Advisors LLC bought a new stake in DNOW during the 1st quarter valued at approximately $58,000. Quarry LP boosted its stake in DNOW by 69.2% during 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 during the period. CWM LLC boosted its stake in DNOW by 111.0% during the 1st quarter. CWM LLC now owns 6,726 shares of the oil and gas company's stock valued at $115,000 after purchasing an additional 3,539 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake 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 purchasing an additional 1,073 shares during the period. Institutional investors own 97.63% of the company's stock.

DNOW Stock Down 1.0%

Shares of DNOW stock traded down $0.1650 during mid-day trading on Monday, reaching $15.6550. The stock had a trading volume of 879,766 shares, compared to its average volume of 1,343,315. The firm's 50 day simple moving average is $14.84 and its 200 day simple moving average is $15.30. DNOW Inc. has a one year low of $11.42 and a one year high of $18.45. The firm has a market cap of $1.68 billion, a PE ratio of 20.60 and a beta of 1.13.

DNOW (NYSE:DNOW - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $612.60 million. During the same period in the prior year, the firm posted $0.25 EPS. DNOW's quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts forecast that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on DNOW shares. Zacks Research upgraded DNOW to a "strong-buy" rating in a research note on Friday, August 8th. Stifel Nicolaus reduced their price objective on DNOW from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, July 21st. One equities 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 MarketBeat, DNOW currently has an average rating of "Buy" and a consensus price target of $18.00.

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.