Intech Investment Management LLC Boosts Holdings in DNOW Inc. (NYSE:DNOW)

Intech Investment Management LLC lifted its position in shares of DNOW Inc. (NYSE:DNOW) by 129.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,184 shares of the oil and gas company’s stock after purchasing an additional 18,157 shares during the period. Intech Investment Management LLC’s holdings in DNOW were worth $416,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. grew its position in DNOW by 71.5% in the 2nd quarter. Pacer Advisors Inc. now owns 7,047,909 shares of the oil and gas company’s stock valued at $96,768,000 after buying an additional 2,939,502 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of DNOW by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,446,637 shares of the oil and gas company’s stock worth $88,511,000 after purchasing an additional 390,671 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of DNOW by 1.6% during the 2nd quarter. Renaissance Technologies LLC now owns 3,819,745 shares of the oil and gas company’s stock worth $52,445,000 after purchasing an additional 59,653 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in DNOW by 1.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,701,685 shares of the oil and gas company’s stock worth $50,824,000 after buying an additional 42,384 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. increased its position in DNOW by 1.9% during the third quarter. Global Alpha Capital Management Ltd. now owns 2,622,426 shares of the oil and gas company’s stock worth $33,908,000 after purchasing an additional 48,900 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Insider Buying and Selling

In other DNOW news, Director Paul M. Coppinger sold 26,186 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total transaction of $401,955.10. Following the sale, the director now directly owns 56,568 shares in the company, valued at approximately $868,318.80. This trade represents a 31.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

DNOW Price Performance

DNOW stock opened at $15.18 on Tuesday. The company’s 50 day simple moving average is $13.24 and its 200-day simple moving average is $13.36. The firm has a market capitalization of $1.61 billion, a P/E ratio of 8.12 and a beta of 1.45. DNOW Inc. has a 52-week low of $9.44 and a 52-week high of $15.65.

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

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.