Victory Capital Management Inc. Has $1.29 Million Stake in DNOW Inc. (NYSE:DNOW)

Victory Capital Management Inc. grew its holdings in shares of DNOW Inc. (NYSE:DNOW) by 35.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,416 shares of the oil and gas company’s stock after purchasing an additional 26,007 shares during the period. Victory Capital Management Inc. owned about 0.09% of DNOW worth $1,285,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in DNOW. Allspring Global Investments Holdings LLC grew its stake in DNOW by 1,062.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock worth $38,000 after buying an additional 2,561 shares in the last quarter. Quarry LP boosted its position in shares of DNOW by 75.6% during the 2nd quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 1,908 shares in the last quarter. Innealta Capital LLC bought a new position in DNOW in the second quarter valued at approximately $67,000. nVerses Capital LLC acquired a new position in DNOW during the third quarter valued at approximately $78,000. Finally, CWM LLC lifted its stake in DNOW by 144.9% during the second quarter. CWM LLC now owns 6,767 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 4,004 shares during the last quarter. 97.63% of the stock is owned by institutional investors.

DNOW Stock Performance

Shares of DNOW opened at $15.12 on Wednesday. The firm has a market cap of $1.60 billion, a PE ratio of 8.02 and a beta of 1.45. DNOW Inc. has a 52-week low of $9.44 and a 52-week high of $15.65. The business’s 50 day moving average price is $13.02 and its two-hundred day moving average price is $13.31.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. DNOW had a net margin of 8.70% and a return on equity of 8.90%. The firm had revenue of $606.00 million for the quarter, compared to analyst estimates of $614.92 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. Research analysts predict that DNOW Inc. will post 0.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.