DNOW Inc. (NYSE:DNOW) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in DNOW Inc. (NYSE:DNOW) by 14.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,468 shares of the oil and gas company’s stock after buying an additional 4,048 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in DNOW were worth $555,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in DNOW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of DNOW by 5.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,387,769 shares of the oil and gas company’s stock valued at $31,065,000 after purchasing an additional 128,252 shares in the last quarter. First Trust Advisors LP raised its stake in shares of DNOW by 0.7% in the 4th quarter. First Trust Advisors LP now owns 2,197,167 shares of the oil and gas company’s stock valued at $28,585,000 after purchasing an additional 15,869 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of DNOW by 6.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company’s stock valued at $23,985,000 after purchasing an additional 112,135 shares in the last quarter. Northern Trust Corp raised its stake in shares of DNOW by 8.7% in the 4th quarter. Northern Trust Corp now owns 1,225,767 shares of the oil and gas company’s stock valued at $15,947,000 after purchasing an additional 98,437 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its stake in shares of DNOW by 72.2% in the 1st quarter. Allianz Asset Management GmbH now owns 1,158,105 shares of the oil and gas company’s stock valued at $19,780,000 after purchasing an additional 485,650 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Stock Down 7.1%

DNOW opened at $14.17 on Thursday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 19.14 and a beta of 1.13. DNOW Inc. has a fifty-two week low of $11.42 and a fifty-two week high of $18.45. The company’s 50-day moving average price is $14.80 and its 200 day moving average price is $15.26.

DNOW (NYSE:DNOW) last posted its earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. DNOW had a net margin of 3.40% and a return on equity of 9.00%. The firm had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $612.60 million. During the same quarter in the prior year, the firm earned $0.25 EPS. DNOW’s quarterly revenue was down .8% on a year-over-year basis. Research analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on DNOW shares. Wall Street Zen upgraded shares of DNOW from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th. 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, Stifel Nicolaus dropped their price objective on shares of DNOW from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, July 21st.

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.