Vanguard Group Inc. Has $200.73 Million Stock 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. lowered its stake in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 1.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 approximately 11.12% of DNOW worth $200,731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DNOW. GAMMA Investing LLC boosted its position 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 acquired a new position in DNOW during the 1st quarter valued at approximately $58,000. Quarry LP boosted its position 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 position 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 position 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 and hedge funds own 97.63% of the company's stock.

DNOW Stock Up 5.4%

DNOW stock traded up $0.8050 during trading on Friday, reaching $15.8250. 907,015 shares of the company's stock were exchanged, compared to its average volume of 1,345,881. DNOW Inc. has a 1-year low of $11.42 and a 1-year high of $18.45. The company's fifty day moving average price is $14.84 and its 200-day moving average price is $15.28. The firm has a market cap of $1.69 billion, a PE ratio of 20.82 and a beta of 1.13.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.27 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 company had revenue of $628.00 million for the quarter, compared to the consensus estimate of $612.60 million. During the same quarter in the previous year, the business earned $0.25 EPS. The company's quarterly revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts expect that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Zacks Research upgraded DNOW to a "strong-buy" rating in a research report on Friday, August 8th. Stifel Nicolaus reduced their price target on DNOW from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, July 21st. Finally, Wall Street Zen upgraded DNOW from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $18.00.

DNOW 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.