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

Pacer Advisors Inc. reduced its stake in DNOW Inc. (NYSE:DNOW) by 18.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,764,275 shares of the oil and gas company’s stock after selling 1,283,634 shares during the quarter. Pacer Advisors Inc. owned about 0.05% of DNOW worth $74,532,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DNOW. Sei Investments Co. grew its stake in DNOW by 751.6% in the 1st quarter. Sei Investments Co. now owns 131,258 shares of the oil and gas company’s stock worth $1,995,000 after acquiring an additional 115,844 shares during the period. ProShare Advisors LLC grew its position in shares of DNOW by 7.4% in the first quarter. ProShare Advisors LLC now owns 21,473 shares of the oil and gas company’s stock valued at $326,000 after purchasing an additional 1,480 shares during the period. UniSuper Management Pty Ltd acquired a new position in DNOW in the first quarter valued at $534,000. Quadrature Capital Ltd lifted its position in DNOW by 34.2% during the first quarter. Quadrature Capital Ltd now owns 25,177 shares of the oil and gas company’s stock worth $382,000 after buying an additional 6,415 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in DNOW by 127.6% in the 1st quarter. Lazard Asset Management LLC now owns 8,946 shares of the oil and gas company’s stock worth $135,000 after buying an additional 5,016 shares during the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Stock Up 0.7 %

Shares of NYSE DNOW opened at $14.76 on Friday. The stock has a market capitalization of $1.56 billion, a PE ratio of 7.89 and a beta of 1.45. The firm has a fifty day moving average of $12.86 and a 200-day moving average of $13.32. DNOW Inc. has a 52-week low of $9.44 and a 52-week high of $15.65.

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

Analyst Ratings Changes

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

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.