PNC Financial Services Group Inc. Sells 1,307 Shares of DNOW Inc. $DNOW

PNC Financial Services Group Inc. lessened its position in DNOW Inc. (NYSE:DNOW) by 11.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,484 shares of the oil and gas company’s stock after selling 1,307 shares during the period. PNC Financial Services Group Inc.’s holdings in DNOW were worth $179,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of DNOW by 122.1% during the 1st quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 1,022 shares during the last quarter. Quarry LP grew its holdings in shares of DNOW by 69.2% during the 4th 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 in the last quarter. CWM LLC raised its stake in DNOW by 111.0% in the first quarter. CWM LLC now owns 6,726 shares of the oil and gas company’s stock valued at $115,000 after purchasing an additional 3,539 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in DNOW by 15.9% during the first quarter. Nisa Investment Advisors LLC now owns 7,825 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 1,073 shares during the period. Finally, Cornerstone Investment Partners LLC acquired a new stake in DNOW during the first quarter worth about $183,000. 97.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on DNOW. Wall Street Zen raised shares of DNOW from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th. Zacks Research raised shares of DNOW to a “strong-buy” rating in a research note on Friday, August 8th. Finally, Stifel Nicolaus cut their price objective on DNOW from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, July 21st.

DNOW Stock Performance

Shares of NYSE DNOW opened at $14.67 on Tuesday. The firm has a 50 day moving average price of $14.83 and a two-hundred day moving average price of $15.28. The stock has a market cap of $1.57 billion, a P/E ratio of 19.30 and a beta of 1.13. DNOW Inc. has a 52-week low of $11.42 and a 52-week high of $18.45.

DNOW (NYSE:DNOW) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. The business had revenue of $628.00 million during the quarter, compared to analyst estimates of $612.60 million. DNOW had a return on equity of 8.97% and a net margin of 3.45%. DNOW’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS. Analysts predict 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.