Wellington Management Group LLP Lowers Stock Holdings in DNOW Inc. (NYSE:DNOW)

Wellington Management Group LLP cut its holdings in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,028,887 shares of the oil and gas company's stock after selling 109,400 shares during the quarter. Wellington Management Group LLP owned about 0.97% of DNOW worth $13,386,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. PharVision Advisers LLC purchased a new stake in shares of DNOW during the 4th quarter valued at approximately $279,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of DNOW by 3.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 233,911 shares of the oil and gas company's stock valued at $3,043,000 after purchasing an additional 8,610 shares during the last quarter. Voloridge Investment Management LLC grew its holdings in shares of DNOW by 360.7% during the 4th quarter. Voloridge Investment Management LLC now owns 208,250 shares of the oil and gas company's stock worth $2,709,000 after purchasing an additional 163,044 shares during the period. Two Sigma Investments LP increased its position in shares of DNOW by 117.4% during the 4th quarter. Two Sigma Investments LP now owns 307,712 shares of the oil and gas company's stock worth $4,003,000 after purchasing an additional 166,166 shares during the last quarter. Finally, State of Wyoming increased its position in shares of DNOW by 117.8% during the 4th quarter. State of Wyoming now owns 24,507 shares of the oil and gas company's stock worth $319,000 after purchasing an additional 13,257 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Stifel Nicolaus cut their price target on DNOW from $20.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Susquehanna cut their target price on shares of DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Wall Street Zen raised shares of DNOW from a "hold" rating to a "buy" rating in a report on Saturday, April 26th.

DNOW Trading Down 0.1%

Shares of NYSE DNOW traded down $0.02 during midday trading on Thursday, reaching $14.45. 562,991 shares of the company were exchanged, compared to its average volume of 932,035. The stock has a market cap of $1.53 billion, a P/E ratio of 19.79 and a beta of 1.09. DNOW Inc. has a 1 year low of $11.42 and a 1 year high of $18.45. The stock has a fifty day simple moving average of $15.36 and a 200 day simple moving average of $14.98.

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 the consensus estimate of $0.19 by $0.03. DNOW had a return on equity of 9.04% and a net margin of 3.41%. The company had revenue of $599.00 million for the quarter, compared to the consensus estimate of $587.17 million. During the same period last year, the business posted $0.21 EPS. The company's revenue was up 6.4% on a year-over-year basis. As a group, analysts forecast that DNOW Inc. will post 0.86 earnings per share for the current year.

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.