DNOW Inc. (NYSE:DNOW) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its holdings in DNOW Inc. (NYSE:DNOW) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,462,018 shares of the oil and gas company’s stock after selling 231,270 shares during the period. Vanguard Group Inc. owned about 11.72% of DNOW worth $147,924,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of DNOW by 12.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,255,868 shares of the oil and gas company’s stock valued at $69,752,000 after buying an additional 678,956 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of DNOW by 2.1% during the 1st quarter. Renaissance Technologies LLC now owns 5,126,979 shares of the oil and gas company’s stock worth $56,551,000 after acquiring an additional 105,253 shares in the last quarter. American Century Companies Inc. grew its position in shares of DNOW by 17.5% during the 3rd quarter. American Century Companies Inc. now owns 4,282,131 shares of the oil and gas company’s stock valued at $50,829,000 after acquiring an additional 639,219 shares during the period. State Street Corp raised its holdings in DNOW by 2.1% in the 2nd quarter. State Street Corp now owns 4,051,649 shares of the oil and gas company’s stock worth $39,625,000 after purchasing an additional 81,846 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in DNOW by 4.6% during the first quarter. JPMorgan Chase & Co. now owns 2,945,697 shares of the oil and gas company’s stock worth $32,844,000 after purchasing an additional 128,368 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Price Performance

DNOW stock opened at $15.12 on Tuesday. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 6.69 and a beta of 1.48. The firm has a 50 day simple moving average of $12.73 and a 200-day simple moving average of $11.56. DNOW Inc. has a 1-year low of $8.83 and a 1-year high of $15.48.

DNOW (NYSE:DNOW) last posted its earnings results on Thursday, February 15th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The company had revenue of $555.00 million for the quarter, compared to the consensus estimate of $540.83 million. DNOW had a return on equity of 11.60% and a net margin of 10.64%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. Equities analysts expect that DNOW Inc. will post 1.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Susquehanna increased their target price on DNOW from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Stifel Nicolaus raised their price target on shares of DNOW from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, StockNews.com downgraded DNOW from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th.

About DNOW

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.