Prospera Financial Services Inc Makes New $187,000 Investment in DNOW Inc. (NYSE:DNOW)

Prospera Financial Services Inc purchased a new position in DNOW Inc. (NYSE:DNOW) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,498 shares of the oil and gas company’s stock, valued at approximately $187,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DNOW. Allspring Global Investments Holdings LLC boosted its position in shares of DNOW by 1,062.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 2,561 shares during the last quarter. KBC Group NV boosted its position in shares of DNOW by 45.5% during the 3rd quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,190 shares during the last quarter. Quarry LP boosted its position in shares of DNOW by 75.6% during the 2nd quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock valued at $61,000 after acquiring an additional 1,908 shares during the last quarter. Innealta Capital LLC bought a new position in shares of DNOW during the 2nd quarter valued at approximately $67,000. Finally, nVerses Capital LLC bought a new position in shares of DNOW during the 3rd quarter valued at approximately $78,000. 97.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

DNOW Stock Up 0.3 %

Shares of DNOW opened at $14.99 on Tuesday. The company has a market cap of $1.59 billion, a PE ratio of 8.01 and a beta of 1.45. The business has a fifty day moving average of $12.97 and a 200 day moving average of $13.31. DNOW Inc. has a 52-week low of $9.44 and a 52-week high of $15.65.

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