Swiss National Bank Has $3.50 Million Stake in DNOW Inc. $DNOW

Swiss National Bank trimmed its holdings in DNOW Inc. (NYSE:DNOW) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,000 shares of the oil and gas company’s stock after selling 3,600 shares during the period. Swiss National Bank owned 0.19% of DNOW worth $3,501,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC increased its stake in DNOW by 21,663.6% in the first quarter. Headlands Technologies LLC now owns 2,394 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 2,383 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in DNOW in the first quarter valued at approximately $58,000. Jefferies Financial Group Inc. bought a new position in DNOW in the first quarter valued at approximately $617,000. XTX Topco Ltd bought a new position in DNOW in the first quarter valued at approximately $518,000. Finally, Picton Mahoney Asset Management increased its stake in DNOW by 100,703.2% in the first quarter. Picton Mahoney Asset Management now owns 95,763 shares of the oil and gas company’s stock valued at $1,635,000 after acquiring an additional 95,668 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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 decreased 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. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, DNOW has a consensus rating of “Buy” and a consensus price target of $18.00.

DNOW Stock Performance

NYSE DNOW opened at $14.9250 on Thursday. The firm’s fifty day moving average price is $14.83 and its two-hundred day moving average price is $15.27. The stock has a market cap of $1.60 billion, a PE ratio of 19.64 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.

DNOW (NYSE:DNOW) last posted its earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $612.60 million. DNOW had a net margin of 3.45% and a return on equity of 8.97%. The company’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. As a group, sell-side analysts predict that DNOW Inc. will post 0.86 earnings per share 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.