LSV Asset Management Purchases 622,705 Shares of DNOW Inc. $DNOW

LSV Asset Management raised its position in DNOW Inc. (NYSE:DNOW) by 354.6% in the second quarter, HoldingsChannel.com reports. The fund 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’s holdings in DNOW were worth $11,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of DNOW by 39.3% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 304,811 shares of the oil and gas company’s stock valued at $4,520,000 after purchasing an additional 86,046 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in DNOW by 7.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,104 shares of the oil and gas company’s stock worth $402,000 after buying an additional 1,821 shares during the last quarter. Geode Capital Management LLC raised its stake in DNOW by 1.3% in the second 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 buying an additional 32,317 shares during the period. CSM Advisors LLC acquired a new stake in shares of DNOW in the second quarter valued at approximately $4,771,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of DNOW during the 2nd quarter worth approximately $162,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Trading Up 2.7%

NYSE:DNOW opened at $12.60 on Thursday. The stock has a 50 day simple moving average of $14.56 and a 200 day simple moving average of $14.85. The stock has a market cap of $1.32 billion, a P/E ratio of 14.48 and a beta of 1.01. DNOW Inc. has a 1-year low of $12.01 and a 1-year high of $18.45.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The firm had revenue of $634.00 million for the quarter, compared to analyst estimates of $637.13 million. DNOW had a return on equity of 9.35% and a net margin of 3.91%.The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. As a group, sell-side analysts forecast that DNOW Inc. will post 0.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DNOW. Zacks Research lowered DNOW from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of DNOW in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, DNOW currently has an average rating of “Hold” and an average price target of $18.00.

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.