DNOW Inc. $DNOW Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its holdings in shares of DNOW Inc. (NYSE:DNOW) by 6.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,586 shares of the oil and gas company’s stock after buying an additional 4,114 shares during the period. Exchange Traded Concepts LLC owned 0.07% of DNOW worth $1,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of DNOW. Millennium Management LLC lifted its holdings in DNOW by 145.4% during the 4th quarter. Millennium Management LLC now owns 520,695 shares of the oil and gas company’s stock worth $6,774,000 after buying an additional 308,543 shares during the last quarter. Nuveen Asset Management LLC increased its position in DNOW by 0.6% in the 4th quarter. Nuveen Asset Management LLC now owns 934,375 shares of the oil and gas company’s stock valued at $12,156,000 after acquiring an additional 5,578 shares during the period. Man Group plc acquired a new position in DNOW in the 4th quarter valued at about $203,000. Quantinno Capital Management LP acquired a new position in DNOW in the 4th quarter valued at about $166,000. Finally, ProShare Advisors LLC increased its position in DNOW by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 31,791 shares of the oil and gas company’s stock worth $414,000 after purchasing an additional 9,769 shares during the period. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Price Performance

Shares of DNOW stock opened at $15.44 on Tuesday. DNOW Inc. has a 1-year low of $11.54 and a 1-year high of $18.45. The business has a 50-day moving average of $15.27 and a 200-day moving average of $15.25. The company has a market capitalization of $1.65 billion, a PE ratio of 20.31 and a beta of 1.21.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DNOW. Stifel Nicolaus dropped their target price on DNOW from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, July 21st. Zacks Research raised DNOW to a “strong-buy” rating in a research note on Friday, August 8th. 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $18.00.

About DNOW

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.