Dimensional Fund Advisors LP Grows Position in DNOW Inc. (NYSE:DNOW)

Dimensional Fund Advisors LP raised its position in DNOW Inc. (NYSE:DNOW) by 6.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,446,637 shares of the oil and gas company’s stock after buying an additional 390,671 shares during the quarter. Dimensional Fund Advisors LP owned approximately 6.04% of DNOW worth $88,511,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of DNOW. Allspring Global Investments Holdings LLC raised its stake in DNOW by 1,062.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 2,561 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of DNOW during the first quarter worth approximately $44,000. Innealta Capital LLC acquired a new stake in shares of DNOW during the second quarter worth $67,000. CWM LLC grew its position in DNOW by 144.9% in the 2nd quarter. CWM LLC now owns 6,767 shares of the oil and gas company’s stock valued at $93,000 after buying an additional 4,004 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in DNOW in the 2nd quarter valued at $94,000. 97.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Susquehanna decreased their price target on DNOW from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Stifel Nicolaus upped their target price on shares of DNOW from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, StockNews.com upgraded shares of DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th.

DNOW Stock Down 2.9 %

DNOW stock opened at $12.53 on Thursday. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 5.77 and a beta of 1.43. DNOW Inc. has a 52-week low of $9.44 and a 52-week high of $15.65. The stock’s fifty day simple moving average is $13.18 and its 200-day simple moving average is $13.84.

DNOW (NYSE:DNOW) last released its earnings results on Wednesday, August 7th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). DNOW had a return on equity of 9.93% and a net margin of 9.70%. The company had revenue of $633.00 million during the quarter, compared to analyst estimates of $638.20 million. As a group, analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current fiscal 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.