DNOW Inc. (NYSE:DNOW) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. increased its stake in shares of DNOW Inc. (NYSE:DNOW) by 71.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 7,047,909 shares of the oil and gas company’s stock after acquiring an additional 2,939,502 shares during the period. Pacer Advisors Inc. owned approximately 6.60% of DNOW worth $96,768,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in DNOW by 1,062.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 2,561 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of DNOW in the 1st quarter valued at approximately $44,000. Innealta Capital LLC acquired a new position in shares of DNOW in the 2nd quarter valued at approximately $67,000. CWM LLC raised its position in shares of DNOW by 144.9% in the 2nd 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 in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of DNOW in the 2nd quarter valued at approximately $94,000. 97.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

DNOW Price Performance

Shares of DNOW opened at $13.02 on Friday. The company has a market cap of $1.39 billion, a P/E ratio of 6.00 and a beta of 1.43. The stock has a fifty day moving average price of $13.26 and a 200 day moving average price of $13.88. DNOW Inc. has a 12 month low of $9.44 and a 12 month high of $15.65.

DNOW (NYSE:DNOW) last released 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). DNOW had a return on equity of 9.93% and a net margin of 9.70%. The business had revenue of $633.00 million during the quarter, compared to the consensus estimate of $638.20 million. As a group, research analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current year.

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.