734,274 Shares in DNOW Inc. (NYSE:DNOW) Acquired by Norges Bank

Norges Bank acquired a new position in DNOW Inc. (NYSE:DNOWFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 734,274 shares of the oil and gas company’s stock, valued at approximately $8,312,000. Norges Bank owned approximately 0.69% of DNOW as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. grew its stake in DNOW by 25.4% in the third quarter. Oppenheimer & Co. Inc. now owns 13,666 shares of the oil and gas company’s stock worth $162,000 after purchasing an additional 2,772 shares in the last quarter. Summit Global Investments increased its holdings in shares of DNOW by 21.0% in the 4th quarter. Summit Global Investments now owns 16,726 shares of the oil and gas company’s stock valued at $189,000 after acquiring an additional 2,900 shares during the period. Pathstone Family Office LLC increased its holdings in shares of DNOW by 10.2% in the 3rd quarter. Pathstone Family Office LLC now owns 21,487 shares of the oil and gas company’s stock valued at $255,000 after acquiring an additional 1,986 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of DNOW by 15.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,518 shares of the oil and gas company’s stock valued at $300,000 after acquiring an additional 3,602 shares during the period. Finally, Jump Financial LLC purchased a new position in shares of DNOW in the 4th quarter valued at $430,000. Institutional investors own 97.63% of the company’s stock.

DNOW Price Performance

Shares of DNOW stock opened at $13.63 on Friday. DNOW Inc. has a 1-year low of $9.44 and a 1-year high of $15.57. The stock’s fifty day moving average price is $14.46 and its 200 day moving average price is $12.61. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 6.28 and a beta of 1.47.

DNOW (NYSE:DNOWGet Free Report) last announced its earnings results on Friday, May 10th. The oil and gas company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02). DNOW had a return on equity of 10.39% and a net margin of 10.30%. The business had revenue of $563.00 million for the quarter, compared to analysts’ expectations of $569.15 million. During the same quarter last year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts anticipate that DNOW Inc. will post 1.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DNOW shares. StockNews.com downgraded DNOW from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th. Stifel Nicolaus lifted their price target on DNOW from $16.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Susquehanna cut their price target on DNOW from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, May 13th.

Get Our Latest Report on DNOW

DNOW Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for DNOW (NYSE:DNOW)

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