Prospera Financial Services Inc Has $353,000 Stock Holdings in DNOW Inc. $DNOW

Prospera Financial Services Inc grew its stake in DNOW Inc. (NYSE:DNOW) by 33.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,780 shares of the oil and gas company’s stock after acquiring an additional 6,015 shares during the period. Prospera Financial Services Inc’s holdings in DNOW were worth $353,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DNOW. Ameriprise Financial Inc. boosted its position in DNOW by 376.3% during the first 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 last quarter. Nuveen LLC bought a new stake in shares of DNOW during the 1st quarter worth approximately $18,483,000. Jane Street Group LLC raised its stake in shares of DNOW by 210.8% during the 1st quarter. Jane Street Group LLC now owns 738,843 shares of the oil and gas company’s stock worth $12,619,000 after purchasing an additional 501,088 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of DNOW by 72.2% in the 1st quarter. Allianz Asset Management GmbH now owns 1,158,105 shares of the oil and gas company’s stock valued at $19,780,000 after buying an additional 485,650 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of DNOW by 203.8% in the second 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 buying an additional 407,972 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of DNOW in a research report on Wednesday, October 8th. Zacks Research lowered shares of DNOW from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Stifel Nicolaus cut their target price on shares of DNOW from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, July 21st. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $18.00.

DNOW Price Performance

Shares of DNOW opened at $12.47 on Friday. The firm has a market capitalization of $1.31 billion, a PE ratio of 14.33 and a beta of 1.01. The company’s 50-day moving average is $14.75 and its 200-day moving average is $14.93. DNOW Inc. has a fifty-two week low of $12.34 and a fifty-two week high of $18.45.

DNOW (NYSE:DNOW) last announced its earnings results on Wednesday, November 5th. The oil and gas company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $634.00 million during the quarter, compared to the consensus estimate of $637.13 million. DNOW had a net margin of 3.91% and a return on equity of 9.35%. DNOW’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 EPS. Analysts predict that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

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.