Vanguard Group Inc. Sells 163,381 Shares of DNOW Inc. $DNOW

Vanguard Group Inc. decreased its holdings in DNOW Inc. (NYSE:DNOW) by 1.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 11,752,398 shares of the oil and gas company’s stock after selling 163,381 shares during the period. Vanguard Group Inc. owned approximately 11.12% of DNOW worth $200,731,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its position in 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. New Age Alpha Advisors LLC bought a new stake in DNOW during the 1st quarter worth $58,000. Quarry LP grew its position in 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 acquiring an additional 2,281 shares during the last quarter. CWM LLC grew its position in DNOW by 111.0% during the 1st quarter. CWM LLC now owns 6,726 shares of the oil and gas company’s stock worth $115,000 after acquiring an additional 3,539 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in DNOW by 15.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 7,825 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 1,073 shares during the last quarter. Institutional investors own 97.63% of the company’s stock.

Analyst Ratings Changes

DNOW has been the topic of a number of research reports. Zacks Research upgraded DNOW to a “strong-buy” rating in a research report on Friday, August 8th. Wall Street Zen upgraded DNOW from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th. Finally, Stifel Nicolaus reduced their price objective on DNOW from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $18.00.

DNOW Price Performance

Shares of NYSE:DNOW opened at $14.7960 on Wednesday. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 19.47 and a beta of 1.13. The business’s 50-day moving average is $14.83 and its 200-day moving average is $15.28. DNOW Inc. has a 1 year low of $11.42 and a 1 year high of $18.45.

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