LSV Asset Management Boosts Stake in DNOW Inc. (NYSE:DNOW)

LSV Asset Management boosted its stake in shares of DNOW Inc. (NYSE:DNOW) by 54.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,900 shares of the oil and gas company’s stock after buying an additional 25,203 shares during the period. LSV Asset Management’s holdings in DNOW were worth $987,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in DNOW by 1,062.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock worth $38,000 after buying an additional 2,561 shares during the period. Headlands Technologies LLC purchased a new stake in DNOW during the first quarter worth $44,000. Innealta Capital LLC purchased a new stake in DNOW during the second quarter worth $67,000. CWM LLC increased its position in shares of DNOW by 144.9% during the second quarter. CWM LLC now owns 6,767 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 4,004 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of DNOW by 127.6% during the first quarter. Lazard Asset Management LLC now owns 8,946 shares of the oil and gas company’s stock worth $135,000 after purchasing an additional 5,016 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Price Performance

NYSE DNOW opened at $11.90 on Friday. The stock’s fifty day moving average price is $13.34 and its 200 day moving average price is $13.95. DNOW Inc. has a 1 year low of $9.44 and a 1 year high of $15.65. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 5.48 and a beta of 1.43.

DNOW (NYSE:DNOW) last released its earnings results on Wednesday, August 7th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). DNOW had a net margin of 9.70% and a return on equity of 9.93%. The firm had revenue of $633.00 million during the quarter, compared to analyst estimates of $638.20 million. Research analysts expect that DNOW Inc. will post 0.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DNOW shares. Stifel Nicolaus upped their price target on DNOW from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Susquehanna reduced their price target on DNOW from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Finally, StockNews.com raised DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th.

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.