First Eagle Investment Management LLC Has $3.65 Million Position in DNOW Inc. (NYSE:DNOW)

First Eagle Investment Management LLC grew its stake in DNOW Inc. (NYSE:DNOW) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 265,934 shares of the oil and gas company’s stock after buying an additional 7,905 shares during the period. First Eagle Investment Management LLC owned 0.25% of DNOW worth $3,651,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in DNOW. Dimensional Fund Advisors LP increased its position in 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 valued at $88,511,000 after purchasing an additional 390,671 shares during the period. Renaissance Technologies LLC raised its stake in DNOW by 1.6% during the second quarter. Renaissance Technologies LLC now owns 3,819,745 shares of the oil and gas company’s stock worth $52,445,000 after buying an additional 59,653 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in DNOW by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,989,506 shares of the oil and gas company’s stock worth $22,521,000 after buying an additional 49,310 shares during the last quarter. American Century Companies Inc. boosted its position in DNOW by 141.2% during the second quarter. American Century Companies Inc. now owns 1,568,267 shares of the oil and gas company’s stock valued at $21,532,000 after acquiring an additional 918,131 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in DNOW by 14.5% during the 4th quarter. Wellington Management Group LLP now owns 926,412 shares of the oil and gas company’s stock worth $10,487,000 after acquiring an additional 117,612 shares during the period. 97.63% of the stock is currently owned by institutional investors.

DNOW Price Performance

DNOW stock opened at $13.02 on Friday. The company’s 50-day moving average is $13.26 and its 200-day moving average is $13.89. The stock has a market capitalization of $1.39 billion, a PE ratio of 6.00 and a beta of 1.43. DNOW Inc. has a 1 year low of $9.44 and a 1 year high of $15.65.

DNOW (NYSE:DNOW) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $633.00 million during the quarter, compared to the consensus estimate of $638.20 million. DNOW had a return on equity of 9.93% and a net margin of 9.70%. On average, analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DNOW. Stifel Nicolaus boosted their price objective on DNOW from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Susquehanna dropped their price target on DNOW from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Finally, StockNews.com raised shares of DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th.

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.