Victory Capital Management Inc. Purchases 26,007 Shares of DNOW Inc. (NYSE:DNOW)

Victory Capital Management Inc. grew its position in shares of DNOW Inc. (NYSE:DNOW) by 35.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 99,416 shares of the oil and gas company’s stock after buying an additional 26,007 shares during the quarter. Victory Capital Management Inc.’s holdings in DNOW were worth $1,285,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versor Investments LP bought a new stake in shares of DNOW during the 3rd quarter worth $463,000. Olympiad Research LP raised its position in DNOW by 32.1% in the third quarter. Olympiad Research LP now owns 22,355 shares of the oil and gas company’s stock worth $289,000 after acquiring an additional 5,434 shares during the period. GW Henssler & Associates Ltd. purchased a new position in DNOW in the third quarter valued at about $182,000. Highland Capital Management LLC grew its position in shares of DNOW by 11.3% during the 3rd quarter. Highland Capital Management LLC now owns 16,417 shares of the oil and gas company’s stock valued at $212,000 after acquiring an additional 1,669 shares during the period. Finally, Inspire Advisors LLC increased its stake in shares of DNOW by 84.0% during the 3rd quarter. Inspire Advisors LLC now owns 26,331 shares of the oil and gas company’s stock worth $340,000 after purchasing an additional 12,017 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Stock Performance

Shares of DNOW opened at $15.12 on Wednesday. DNOW Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $15.65. The business has a 50-day moving average of $13.02 and a 200 day moving average of $13.31. The firm has a market cap of $1.60 billion, a P/E ratio of 8.02 and a beta of 1.45.

DNOW (NYSE:DNOW) last posted its earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $606.00 million during the quarter, compared to the consensus estimate of $614.92 million. DNOW had a net margin of 8.70% and a return on equity of 8.90%. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. As a group, research analysts predict that DNOW Inc. will post 0.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th.

About DNOW

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.