DNOW Inc. (NYSE:DNOW) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its stake in DNOW Inc. (NYSE:DNOW) by 18.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,001 shares of the oil and gas company’s stock after selling 32,873 shares during the period. Bank of America Corp DE owned 0.14% of DNOW worth $1,939,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its holdings in shares of DNOW by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 885 shares during the period. Quarry LP raised its holdings in shares of DNOW by 69.2% during the fourth quarter. Quarry LP now owns 5,578 shares of the oil and gas company’s stock worth $73,000 after purchasing an additional 2,281 shares during the period. KBC Group NV raised its holdings in shares of DNOW by 72.4% during the fourth quarter. KBC Group NV now owns 6,560 shares of the oil and gas company’s stock worth $85,000 after purchasing an additional 2,754 shares during the period. Polymer Capital Management US LLC acquired a new stake in shares of DNOW during the fourth quarter worth $192,000. Finally, Pictet Asset Management Holding SA raised its holdings in shares of DNOW by 23.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 15,760 shares of the oil and gas company’s stock worth $205,000 after purchasing an additional 2,947 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DNOW has been the topic of a number of analyst reports. Susquehanna dropped their price objective on shares of DNOW from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Stifel Nicolaus dropped their price objective on shares of DNOW from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, Wall Street Zen raised shares of DNOW from a “hold” rating to a “buy” rating in a report on Saturday, April 26th.

DNOW Stock Up 2.3%

DNOW stock opened at $14.74 on Wednesday. DNOW Inc. has a fifty-two week low of $11.42 and a fifty-two week high of $18.45. The firm’s 50-day simple moving average is $15.41 and its 200 day simple moving average is $14.98. The stock has a market cap of $1.56 billion, a PE ratio of 20.19 and a beta of 1.09.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. DNOW had a net margin of 3.41% and a return on equity of 9.04%. The business had revenue of $599.00 million for the quarter, compared to analysts’ expectations of $587.17 million. During the same quarter last year, the company earned $0.21 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities analysts forecast that DNOW Inc. will post 0.86 EPS 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.