DNOW Inc. $DNOW Stock Holdings Lessened by Global Alpha Capital Management Ltd.

Global Alpha Capital Management Ltd. cut its holdings in DNOW Inc. (NYSE:DNOW) by 10.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,036,226 shares of the oil and gas company’s stock after selling 229,800 shares during the period. DNOW comprises approximately 1.9% of Global Alpha Capital Management Ltd.’s holdings, making the stock its 27th biggest position. Global Alpha Capital Management Ltd.’s holdings in DNOW were worth $30,197,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in DNOW. Ameriprise Financial Inc. boosted its position in DNOW by 376.3% during the 1st quarter. Ameriprise Financial Inc. now owns 2,914,681 shares of the oil and gas company’s stock valued at $49,802,000 after purchasing an additional 2,302,738 shares during the period. American Century Companies Inc. increased its position in DNOW by 16.8% in the first quarter. American Century Companies Inc. now owns 2,003,050 shares of the oil and gas company’s stock worth $34,212,000 after buying an additional 288,311 shares during the period. Allianz Asset Management GmbH lifted its stake in DNOW by 5.3% in the second quarter. Allianz Asset Management GmbH now owns 1,218,941 shares of the oil and gas company’s stock valued at $18,077,000 after buying an additional 60,836 shares during the last quarter. Nuveen LLC acquired a new position in shares of DNOW during the first quarter valued at $18,483,000. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of DNOW by 1.2% during the first quarter. Bridgeway Capital Management LLC now owns 984,619 shares of the oil and gas company’s stock valued at $16,817,000 after acquiring an additional 11,530 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of DNOW in a report on Wednesday, October 8th. Stifel Nicolaus decreased their target price on shares of DNOW from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, July 21st. Finally, Zacks Research cut DNOW from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.00.

DNOW Trading Up 1.1%

DNOW stock opened at $13.73 on Friday. DNOW Inc. has a 52 week low of $12.56 and a 52 week high of $18.45. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 15.78 and a beta of 1.01. The company’s 50-day moving average price is $15.05 and its two-hundred day moving average price is $15.04.

DNOW (NYSE:DNOW) last posted its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. DNOW had a net margin of 3.91% and a return on equity of 9.35%. The business had revenue of $634.00 million during the quarter, compared to analysts’ expectations of $637.13 million. During the same period last year, the firm posted $0.21 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. Research analysts expect that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

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.