DNOW Inc. $DNOW Stock Holdings Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of DNOW Inc. (NYSE:DNOW) by 5.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,420,279 shares of the oil and gas company’s stock after buying an additional 77,186 shares during the period. JPMorgan Chase & Co. owned about 1.33% of DNOW worth $21,659,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of DNOW by 28.2% during the 1st quarter. Royal Bank of Canada now owns 35,783 shares of the oil and gas company’s stock valued at $611,000 after acquiring an additional 7,867 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of DNOW by 53.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,708 shares of the oil and gas company’s stock worth $6,127,000 after purchasing an additional 124,797 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of DNOW by 3.2% during the second quarter. Teacher Retirement System of Texas now owns 91,399 shares of the oil and gas company’s stock valued at $1,355,000 after purchasing an additional 2,821 shares during the last quarter. Prospera Financial Services Inc boosted its position in shares of DNOW by 33.9% in the 2nd quarter. Prospera Financial Services Inc now owns 23,780 shares of the oil and gas company’s stock valued at $353,000 after purchasing an additional 6,015 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in DNOW in the 2nd quarter worth about $162,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on DNOW. Zacks Research lowered shares of DNOW from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. Susquehanna upgraded shares of DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price target for the company in a research report on Friday, November 21st. KeyCorp set a $19.00 price objective on shares of DNOW in a research report on Thursday, December 18th. Weiss Ratings lowered DNOW from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday. Finally, Stifel Nicolaus decreased their target price on DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.00.

DNOW Stock Down 0.7%

DNOW stock opened at $11.78 on Monday. The company has a 50 day moving average of $14.38 and a two-hundred day moving average of $14.52. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -40.61 and a beta of 0.80. DNOW Inc. has a 12-month low of $11.55 and a 12-month high of $17.48. The company has a quick ratio of 1.11, a current ratio of 2.34 and a debt-to-equity ratio of 0.18.

DNOW (NYSE:DNOW) last posted its quarterly earnings results on Friday, February 20th. The oil and gas company reported $0.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.15. The business had revenue of $959.00 million for the quarter, compared to the consensus estimate of $969.50 million. DNOW had a negative net margin of 2.66% and a positive return on equity of 7.26%. DNOW’s revenue for the quarter was up 68.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. On average, equities analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

DNOW Company Profile

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.