MBB Public Markets I LLC acquired a new stake in DNOW Inc. (NYSE:DNOW – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,087 shares of the oil and gas company’s stock, valued at approximately $138,000.
Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of DNOW by 14.5% during the fourth quarter. Wellington Management Group LLP now owns 926,412 shares of the oil and gas company’s stock valued at $10,487,000 after acquiring an additional 117,612 shares during the last quarter. Sei Investments Co. increased its holdings in DNOW by 751.6% in the 1st quarter. Sei Investments Co. now owns 131,258 shares of the oil and gas company’s stock valued at $1,995,000 after purchasing an additional 115,844 shares during the last quarter. Denali Advisors LLC purchased a new stake in DNOW in the first quarter valued at approximately $1,409,000. First Hawaiian Bank acquired a new position in DNOW during the second quarter worth $508,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of DNOW during the first quarter worth $555,000. 97.63% of the stock is currently owned by hedge funds and other institutional investors.
DNOW Price Performance
DNOW opened at $12.75 on Thursday. The business has a fifty day moving average price of $13.04 and a 200 day moving average price of $13.79. DNOW Inc. has a 12 month low of $9.44 and a 12 month high of $15.65. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 5.87 and a beta of 1.43.
Analysts Set New Price Targets
Several research firms recently issued reports on DNOW. Susquehanna decreased their target price on DNOW from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Stifel Nicolaus raised their price objective on shares of DNOW from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, StockNews.com raised shares of DNOW from a “hold” rating to a “buy” rating in a research note 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.
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