First Eagle Investment Management LLC Purchases 7,905 Shares of DNOW Inc. (NYSE:DNOW)

First Eagle Investment Management LLC grew its position in shares of DNOW Inc. (NYSE:DNOW) by 3.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 265,934 shares of the oil and gas company’s stock after buying an additional 7,905 shares during the quarter. First Eagle Investment Management LLC’s holdings in DNOW were worth $3,651,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of DNOW. Louisiana State Employees Retirement System increased its holdings in DNOW by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 53,700 shares of the oil and gas company’s stock worth $737,000 after buying an additional 1,000 shares during the last quarter. SummerHaven Investment Management LLC increased its position in DNOW by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 68,946 shares of the oil and gas company’s stock worth $947,000 after buying an additional 1,068 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in shares of DNOW by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 93,060 shares of the oil and gas company’s stock valued at $1,415,000 after buying an additional 1,205 shares during the period. Arizona State Retirement System lifted its position in shares of DNOW by 4.3% during the 2nd quarter. Arizona State Retirement System now owns 30,485 shares of the oil and gas company’s stock valued at $419,000 after buying an additional 1,263 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of DNOW by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 21,473 shares of the oil and gas company’s stock worth $326,000 after acquiring an additional 1,480 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Price Performance

Shares of NYSE:DNOW opened at $13.02 on Friday. The firm has a fifty day moving average price of $13.26 and a two-hundred day moving average price of $13.89. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 6.00 and a beta of 1.43. DNOW Inc. has a one year low of $9.44 and a one year high of $15.65.

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

Wall Street Analysts Forecast Growth

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

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.