KBC Group NV Raises Position in DNOW Inc. (NYSE:DNOW)

KBC Group NV boosted its holdings in shares of DNOW Inc. (NYSE:DNOW) by 45.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,806 shares of the oil and gas company’s stock after buying an additional 1,190 shares during the period. KBC Group NV’s holdings in DNOW were worth $49,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. First Hawaiian Bank bought a new stake in shares of DNOW during the 2nd quarter valued at about $508,000. CWM LLC lifted its position in DNOW by 144.9% during the second quarter. CWM LLC now owns 6,767 shares of the oil and gas company’s stock valued at $93,000 after purchasing an additional 4,004 shares during the last quarter. AQR Capital Management LLC grew its stake in DNOW by 21.9% in the 2nd quarter. AQR Capital Management LLC now owns 827,965 shares of the oil and gas company’s stock worth $11,368,000 after buying an additional 148,549 shares in the last quarter. Sei Investments Co. grew its stake in DNOW by 47.0% in the 2nd quarter. Sei Investments Co. now owns 192,950 shares of the oil and gas company’s stock worth $2,649,000 after buying an additional 61,692 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of DNOW in the 2nd quarter worth $1,653,000. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th.

DNOW Trading Up 1.6 %

Shares of NYSE DNOW opened at $14.95 on Friday. The stock’s 50-day moving average is $12.97 and its 200 day moving average is $13.33. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 7.99 and a beta of 1.45. DNOW Inc. has a 1-year low of $9.44 and a 1-year high of $15.65.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $606.00 million for the quarter, compared to analysts’ expectations of $614.92 million. DNOW had a net margin of 8.70% and a return on equity of 8.90%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the business earned $0.25 earnings per share. On average, analysts forecast that DNOW Inc. will post 0.84 EPS for the current fiscal year.

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.