DNOW Inc. (NYSE:DNOW) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC grew its stake in shares of DNOW Inc. (NYSE:DNOW) by 156.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,700 shares of the oil and gas company’s stock after purchasing an additional 24,817 shares during the quarter. SG Americas Securities LLC’s holdings in DNOW were worth $526,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. First Eagle Investment Management LLC raised its stake in DNOW by 0.4% during the 1st quarter. First Eagle Investment Management LLC now owns 258,029 shares of the oil and gas company’s stock worth $3,922,000 after acquiring an additional 1,000 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of 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 purchasing an additional 1,000 shares during the last quarter. SummerHaven Investment Management LLC increased its position in shares of DNOW by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 68,946 shares of the oil and gas company’s stock worth $947,000 after purchasing an additional 1,068 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of DNOW by 1.3% in the 1st 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 purchasing an additional 1,205 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of DNOW by 4.3% in 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 purchasing an additional 1,263 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on DNOW. Stifel Nicolaus lifted their price target on 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 target price on shares of DNOW from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, StockNews.com upgraded shares of DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th.

DNOW Stock Down 2.1 %

DNOW opened at $12.50 on Wednesday. DNOW Inc. has a 52 week low of $9.44 and a 52 week high of $15.65. The business has a 50 day moving average price of $12.66 and a two-hundred day moving average price of $13.65. The company has a market cap of $1.34 billion, a PE ratio of 5.80 and a beta of 1.43.

DNOW (NYSE:DNOW) last released 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). DNOW had a return on equity of 9.93% and a net margin of 9.70%. The company had revenue of $633.00 million for the quarter, compared to analysts’ expectations of $638.20 million. As a group, sell-side analysts expect that DNOW Inc. will post 0.86 EPS for the current fiscal year.

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.