Sei Investments Co. Purchases 61,692 Shares of DNOW Inc. (NYSE:DNOW)

Sei Investments Co. boosted its holdings in shares of DNOW Inc. (NYSE:DNOW) by 47.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 192,950 shares of the oil and gas company’s stock after acquiring an additional 61,692 shares during the period. Sei Investments Co. owned approximately 0.18% of DNOW worth $2,649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Wellington Management Group LLP grew its position in shares of DNOW by 14.5% in the 4th quarter. Wellington Management Group LLP now owns 926,412 shares of the oil and gas company’s stock valued at $10,487,000 after purchasing an additional 117,612 shares during the period. Denali Advisors LLC acquired a new stake in shares of DNOW during the first quarter worth $1,409,000. First Hawaiian Bank acquired a new position in DNOW in the 2nd quarter worth $508,000. Janney Montgomery Scott LLC acquired a new position in DNOW in the 1st quarter worth $555,000. Finally, Hillsdale Investment Management Inc. bought a new position in DNOW during the 1st quarter worth about $4,241,000. 97.63% of the stock is currently owned by institutional investors.

DNOW Price Performance

DNOW stock opened at $12.68 on Friday. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 5.84 and a beta of 1.43. The firm has a 50-day moving average of $12.91 and a 200-day moving average of $13.76. DNOW Inc. has a one year low of $9.44 and a one year high of $15.65.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Stifel Nicolaus boosted their price target on 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 reduced their price target on DNOW from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th.

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.