American Century Companies Inc. Has $35.44 Million Holdings in DNOW Inc. $DNOW

American Century Companies Inc. raised its position in DNOW Inc. (NYSE:DNOW) by 19.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,389,433 shares of the oil and gas company’s stock after purchasing an additional 386,383 shares during the quarter. American Century Companies Inc. owned 2.23% of DNOW worth $35,435,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of DNOW. Brooklyn Investment Group boosted its position in shares of DNOW by 2,650.0% during the first quarter. Brooklyn Investment Group now owns 1,705 shares of the oil and gas company’s stock worth $29,000 after buying an additional 1,643 shares during the period. Headlands Technologies LLC lifted its stake in DNOW by 21,663.6% in the 1st 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 in the last quarter. New Age Alpha Advisors LLC acquired a new position in DNOW during the 1st quarter worth approximately $58,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in DNOW during the 1st quarter worth approximately $63,000. Finally, Covestor Ltd grew its stake in shares of DNOW by 437.2% during the 1st quarter. Covestor Ltd now owns 4,507 shares of the oil and gas company’s stock worth $76,000 after acquiring an additional 3,668 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

DNOW Stock Performance

DNOW stock opened at $13.97 on Friday. The stock has a 50-day simple moving average of $14.32 and a 200 day simple moving average of $14.77. The stock has a market capitalization of $1.47 billion, a P/E ratio of 16.05 and a beta of 1.01. DNOW Inc. has a 52 week low of $12.01 and a 52 week high of $18.45.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. DNOW had a return on equity of 9.35% and a net margin of 3.91%.The firm had revenue of $634.00 million for the quarter, compared to analyst estimates of $637.13 million. During the same quarter in the prior year, the company earned $0.21 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Research analysts forecast that DNOW Inc. will post 0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DNOW shares. Zacks Research lowered shares of DNOW from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of DNOW in a research report on Wednesday, October 8th. Susquehanna raised shares of DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price target on the stock in a research report on Friday, November 21st. Finally, Stifel Nicolaus restated a “buy” rating and set a $18.00 price objective on shares of DNOW in a research note on Monday, November 24th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

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.