DNOW Inc. $DNOW Shares Sold by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC cut its position in DNOW Inc. (NYSE:DNOW) by 26.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 34,044 shares of the oil and gas company’s stock after selling 12,339 shares during the quarter. Greenwood Capital Associates LLC’s holdings in DNOW were worth $505,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DNOW. Ameriprise Financial Inc. lifted its holdings in DNOW by 376.3% in the 1st quarter. Ameriprise Financial Inc. now owns 2,914,681 shares of the oil and gas company’s stock worth $49,802,000 after buying an additional 2,302,738 shares in the last quarter. Nuveen LLC purchased a new stake in shares of DNOW during the first quarter worth about $18,483,000. Jane Street Group LLC increased its position in shares of DNOW by 210.8% during the first quarter. Jane Street Group LLC now owns 738,843 shares of the oil and gas company’s stock worth $12,619,000 after acquiring an additional 501,088 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of DNOW by 72.2% during the first quarter. Allianz Asset Management GmbH now owns 1,158,105 shares of the oil and gas company’s stock worth $19,780,000 after acquiring an additional 485,650 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in DNOW by 203.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 608,180 shares of the oil and gas company’s stock valued at $9,019,000 after purchasing an additional 407,972 shares in the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

DNOW Trading Up 2.9%

DNOW stock opened at $15.76 on Friday. The firm has a market cap of $1.69 billion, a P/E ratio of 20.74 and a beta of 1.05. DNOW Inc. has a 12-month low of $11.54 and a 12-month high of $18.45. The stock’s 50 day simple moving average is $15.36 and its 200 day simple moving average is $15.27.

DNOW (NYSE:DNOW) last released its earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.05. DNOW had a net margin of 3.45% and a return on equity of 8.97%. The firm had revenue of $628.00 million during the quarter, compared to analyst estimates of $612.60 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts forecast that DNOW Inc. will post 0.86 EPS for the current fiscal year.

Analysts Set New Price Targets

DNOW has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their price objective on DNOW from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, July 21st. Zacks Research raised shares of DNOW to a “strong-buy” rating in a report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of DNOW in a report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, DNOW has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

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.