Voya Investment Management LLC Has $5.93 Million Holdings in DNOW Inc. $DNOW

Voya Investment Management LLC cut its stake in DNOW Inc. (NYSE:DNOW) by 15.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 347,371 shares of the oil and gas company’s stock after selling 63,247 shares during the period. Voya Investment Management LLC owned approximately 0.33% of DNOW worth $5,933,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. SummerHaven Investment Management LLC boosted its holdings in 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 valued at $1,030,000 after purchasing an additional 966 shares during the period. GAMMA Investing LLC lifted 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 period. Nisa Investment Advisors LLC lifted its holdings in shares of 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 period. Sequoia Financial Advisors LLC lifted its holdings in shares of DNOW by 1.8% during 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 acquiring an additional 1,467 shares during the period. Finally, Brooklyn Investment Group lifted its holdings in shares of DNOW by 2,650.0% during the 1st quarter. Brooklyn Investment Group now owns 1,705 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 1,643 shares during the period. 97.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DNOW has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price objective on shares of DNOW from $19.00 to $18.00 and set a “buy” rating for the company in a report on Monday, July 21st. Zacks Research raised shares of DNOW to a “strong-buy” rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $18.00.

DNOW Stock Up 1.8%

Shares of DNOW stock opened at $15.48 on Friday. The stock has a market capitalization of $1.66 billion, a P/E ratio of 20.37 and a beta of 1.21. The company has a 50-day simple moving average of $15.21 and a 200 day simple moving average of $15.24. DNOW Inc. has a 12-month low of $11.54 and a 12-month 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 analysts’ consensus estimates of $0.22 by $0.05. The business had revenue of $628.00 million during 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 firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the company posted $0.25 EPS. On average, equities analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current 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.