LSV Asset Management Has $11.84 Million Stock Holdings in DNOW Inc. $DNOW

LSV Asset Management increased its holdings in shares of DNOW Inc. (NYSE:DNOW) by 354.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 798,300 shares of the oil and gas company’s stock after purchasing an additional 622,705 shares during the quarter. LSV Asset Management owned 0.75% of DNOW worth $11,839,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of DNOW. Ameriprise Financial Inc. boosted its holdings in shares of DNOW by 376.3% in 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 buying an additional 2,302,738 shares during the period. Geode Capital Management LLC lifted its position in DNOW by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,524,052 shares of the oil and gas company’s stock valued at $37,437,000 after acquiring an additional 32,317 shares in the last quarter. American Century Companies Inc. lifted its position in DNOW by 16.8% in the 1st quarter. American Century Companies Inc. now owns 2,003,050 shares of the oil and gas company’s stock valued at $34,212,000 after acquiring an additional 288,311 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in DNOW by 5.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,218,941 shares of the oil and gas company’s stock worth $18,077,000 after purchasing an additional 60,836 shares during the period. Finally, Nuveen LLC acquired a new position in DNOW in the 1st quarter worth $18,483,000. Institutional investors own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on DNOW shares. Zacks Research downgraded DNOW from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of DNOW in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.00.

DNOW Trading Up 2.7%

Shares of DNOW stock opened at $12.60 on Thursday. The firm’s fifty day moving average price is $14.56 and its two-hundred day moving average price is $14.85. DNOW Inc. has a 1 year low of $12.01 and a 1 year high of $18.45. The firm has a market capitalization of $1.32 billion, a P/E ratio of 14.48 and a beta of 1.01.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $634.00 million during the quarter, compared to analysts’ expectations of $637.13 million. DNOW had a return on equity of 9.35% and a net margin of 3.91%.DNOW’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 EPS. As a group, equities research analysts forecast that DNOW Inc. will post 0.86 EPS 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.