Charles Schwab Investment Management Inc. Cuts Stake in DNOW Inc. $DNOW

Charles Schwab Investment Management Inc. reduced its stake in DNOW Inc. (NYSE:DNOW) by 3.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 2,021,460 shares of the oil and gas company’s stock after selling 70,200 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.91% of DNOW worth $34,527,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. SummerHaven Investment Management LLC boosted its holdings in shares of DNOW by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 60,319 shares of the oil and gas company’s stock worth $1,030,000 after buying an additional 966 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of DNOW by 122.1% in the 1st quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company’s stock worth $32,000 after buying an additional 1,022 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of DNOW by 15.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 7,825 shares of the oil and gas company’s stock worth $134,000 after buying an additional 1,073 shares during the last quarter. CoreCommodity Management LLC boosted its holdings in shares of DNOW by 1.4% in the 4th quarter. CoreCommodity Management LLC now owns 95,471 shares of the oil and gas company’s stock worth $1,242,000 after buying an additional 1,364 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of DNOW by 1.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 81,390 shares of the oil and gas company’s stock worth $1,390,000 after buying an additional 1,467 shares during the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DNOW has been the topic of a number of research reports. Stifel Nicolaus lowered their price objective on DNOW from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, July 21st. Wall Street Zen upgraded DNOW from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th. Finally, Zacks Research upgraded DNOW to a “strong-buy” rating in a research note on Friday, August 8th.

DNOW Stock Performance

Shares of DNOW stock opened at $14.67 on Tuesday. DNOW Inc. has a 52-week low of $11.42 and a 52-week high of $18.45. The stock’s 50-day simple moving average is $14.83 and its 200 day simple moving average is $15.28. The stock has a market capitalization of $1.57 billion, a P/E ratio of 19.30 and a beta of 1.13.

DNOW (NYSE:DNOW) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.05. DNOW had a return on equity of 8.97% and a net margin of 3.45%. The firm had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $612.60 million. During the same period in the prior year, the business posted $0.25 earnings per share. The company’s revenue was down .8% on a year-over-year basis. Equities research analysts forecast that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW 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.