US Bancorp DE Has $167,000 Holdings in DNOW Inc. (NYSE:DNOW)

US Bancorp DE cut its position in shares of DNOW Inc. (NYSE:DNOW) by 6.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,885 shares of the oil and gas company’s stock after selling 854 shares during the quarter. US Bancorp DE’s holdings in DNOW were worth $167,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in DNOW. GW Henssler & Associates Ltd. purchased a new stake in shares of DNOW in the third quarter valued at $182,000. Highland Capital Management LLC raised its position in DNOW by 11.3% during the third quarter. Highland Capital Management LLC now owns 16,417 shares of the oil and gas company’s stock valued at $212,000 after buying an additional 1,669 shares during the period. Inspire Advisors LLC lifted its stake in DNOW by 84.0% in the 3rd quarter. Inspire Advisors LLC now owns 26,331 shares of the oil and gas company’s stock worth $340,000 after acquiring an additional 12,017 shares in the last quarter. nVerses Capital LLC acquired a new stake in DNOW during the 3rd quarter worth about $78,000. Finally, Exchange Traded Concepts LLC grew its stake in DNOW by 31.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 80,254 shares of the oil and gas company’s stock valued at $1,038,000 after acquiring an additional 19,153 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Price Performance

Shares of DNOW stock opened at $14.59 on Friday. DNOW Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $15.65. The stock’s 50-day moving average is $12.60 and its two-hundred day moving average is $13.31. The firm has a market cap of $1.54 billion, a P/E ratio of 7.80 and a beta of 1.45.

DNOW (NYSE:DNOW) last announced its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. The business had revenue of $606.00 million during the quarter, compared to analysts’ expectations of $614.92 million. DNOW had a return on equity of 8.90% and a net margin of 8.70%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 EPS. As a group, research analysts expect that DNOW Inc. will post 0.84 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DNOW shares. StockNews.com raised shares of DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. 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.

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.