Hsbc Holdings PLC Has $1.72 Million Stock Position in DNOW Inc. (NYSE:DNOW)

Hsbc Holdings PLC increased its position in DNOW Inc. (NYSE:DNOW) by 10.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 126,673 shares of the oil and gas company’s stock after purchasing an additional 12,291 shares during the quarter. Hsbc Holdings PLC’s holdings in DNOW were worth $1,723,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DNOW. American Century Companies Inc. boosted its holdings in DNOW by 141.2% in the second quarter. American Century Companies Inc. now owns 1,568,267 shares of the oil and gas company’s stock worth $21,532,000 after acquiring an additional 918,131 shares in the last quarter. Norges Bank bought a new position in shares of DNOW in the 4th quarter worth $8,312,000. Dimensional Fund Advisors LP grew its position in DNOW by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,446,637 shares of the oil and gas company’s stock valued at $88,511,000 after purchasing an additional 390,671 shares during the period. Acadian Asset Management LLC bought a new stake in DNOW during the 1st quarter valued at $4,571,000. Finally, Hillsdale Investment Management Inc. acquired a new position in DNOW during the first quarter worth $4,241,000. 97.63% of the stock is owned by institutional investors.

DNOW Price Performance

NYSE DNOW opened at $12.40 on Friday. The company has a fifty day moving average price of $13.14 and a 200-day moving average price of $13.83. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 5.71 and a beta of 1.43. DNOW Inc. has a 1 year low of $9.44 and a 1 year high of $15.65.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $633.00 million during the quarter, compared to the consensus estimate of $638.20 million. DNOW had a return on equity of 9.93% and a net margin of 9.70%. On average, research analysts anticipate that DNOW Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DNOW shares. Stifel Nicolaus lifted their price objective on shares of DNOW from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 18th. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, Susquehanna lowered their price objective on DNOW from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th.

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.