Wellington Management Group LLP Grows Holdings in DNOW Inc. (NYSE:DNOW)

Wellington Management Group LLP lifted its stake in shares of DNOW Inc. (NYSE:DNOW) by 14.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 926,412 shares of the oil and gas company’s stock after buying an additional 117,612 shares during the quarter. Wellington Management Group LLP owned approximately 0.87% of DNOW worth $10,487,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its position in DNOW by 306.8% in the third quarter. PNC Financial Services Group Inc. now owns 47,347 shares of the oil and gas company’s stock worth $562,000 after buying an additional 35,708 shares during the period. Hsbc Holdings PLC increased its holdings in shares of DNOW by 35.4% in the 3rd quarter. Hsbc Holdings PLC now owns 60,397 shares of the oil and gas company’s stock worth $729,000 after acquiring an additional 15,807 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in DNOW in the 3rd quarter valued at about $898,000. Schonfeld Strategic Advisors LLC boosted its stake in DNOW by 67.1% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 58,069 shares of the oil and gas company’s stock valued at $689,000 after purchasing an additional 23,328 shares during the period. Finally, AQR Capital Management LLC grew its position in DNOW by 101.9% in the 3rd quarter. AQR Capital Management LLC now owns 451,370 shares of the oil and gas company’s stock worth $5,358,000 after purchasing an additional 227,810 shares during the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DNOW shares. Susquehanna reduced their price objective on DNOW from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Stifel Nicolaus boosted their price target on DNOW from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th.

DNOW Trading Up 0.2 %

DNOW stock opened at $13.51 on Friday. The firm’s 50-day moving average is $14.00 and its two-hundred day moving average is $12.94. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 6.23 and a beta of 1.47. DNOW Inc. has a 52 week low of $9.44 and a 52 week high of $15.57.

DNOW (NYSE:DNOW) last released its earnings results on Friday, May 10th. The oil and gas company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). DNOW had a return on equity of 10.39% and a net margin of 10.30%. The firm had revenue of $563.00 million during the quarter, compared to analyst estimates of $569.15 million. During the same quarter last year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts predict that DNOW Inc. will post 1.06 earnings per share 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.