DNOW Inc. $DNOW Shares Bought by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lifted its stake in shares of DNOW Inc. (NYSE:DNOW) by 203.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,815 shares of the oil and gas company’s stock after purchasing an additional 33,396 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in DNOW were worth $739,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of DNOW. Denali Advisors LLC increased its stake in DNOW by 10.2% during the 2nd quarter. Denali Advisors LLC now owns 176,604 shares of the oil and gas company’s stock valued at $2,619,000 after buying an additional 16,377 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of DNOW in the second quarter valued at approximately $370,000. Nordea Investment Management AB increased its stake in shares of DNOW by 0.7% during the second quarter. Nordea Investment Management AB now owns 343,371 shares of the oil and gas company’s stock valued at $5,374,000 after acquiring an additional 2,289 shares during the period. Allianz Asset Management GmbH increased its stake in shares of DNOW by 5.3% during 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 acquiring an additional 60,836 shares during the period. Finally, Ritholtz Wealth Management bought a new stake in DNOW during the second quarter worth approximately $187,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analyst Upgrades and Downgrades

DNOW has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of DNOW in a research note on Friday. Zacks Research cut DNOW from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Stifel Nicolaus lowered their target price on DNOW from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, July 21st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, DNOW currently has an average rating of “Hold” and an average target price of $18.00.

DNOW Stock Up 0.9%

Shares of NYSE DNOW opened at $15.30 on Friday. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 20.13 and a beta of 1.05. The stock’s fifty day simple moving average is $15.25 and its 200 day simple moving average is $15.11. DNOW Inc. has a 52-week low of $11.54 and a 52-week high of $18.45.

DNOW (NYSE:DNOW) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. The business had revenue of $628.00 million during the quarter, compared to the consensus estimate of $612.60 million. DNOW had a return on equity of 8.97% and a net margin of 3.45%.DNOW’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. As a group, analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current 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.