Allianz Asset Management GmbH Buys 60,836 Shares of DNOW Inc. $DNOW

Allianz Asset Management GmbH raised its stake in DNOW Inc. (NYSE:DNOW) by 5.3% in the second quarter, Holdings Channel.com reports. The firm owned 1,218,941 shares of the oil and gas company’s stock after acquiring an additional 60,836 shares during the period. Allianz Asset Management GmbH’s holdings in DNOW were worth $18,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in DNOW in the 1st quarter valued at $220,000. GAMMA Investing LLC boosted its holdings in DNOW by 122.1% in the 1st quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,022 shares during the period. Inspire Investing LLC boosted its holdings in DNOW by 118.9% in the 1st quarter. Inspire Investing LLC now owns 67,342 shares of the oil and gas company’s stock valued at $1,150,000 after purchasing an additional 36,574 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of DNOW by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 526,101 shares of the oil and gas company’s stock worth $8,986,000 after acquiring an additional 12,797 shares during the period. Finally, Jane Street Group LLC lifted its holdings 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 acquiring an additional 501,088 shares during the period. 97.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of DNOW in a report on Wednesday, October 8th. Zacks Research downgraded shares of DNOW from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Stifel Nicolaus reduced their price objective on shares of DNOW from $19.00 to $18.00 and set a “buy” rating for the company in a report on Monday, July 21st. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, DNOW currently has a consensus rating of “Hold” and an average price target of $18.00.

DNOW Stock Up 0.1%

NYSE:DNOW opened at $14.11 on Monday. The firm has a market cap of $1.51 billion, a PE ratio of 18.57 and a beta of 1.05. DNOW Inc. has a 12 month low of $11.54 and a 12 month high of $18.45. The company’s 50-day moving average price is $15.24 and its two-hundred day moving average price is $15.10.

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

DNOW 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.