US Bancorp DE Sells 854 Shares of DNOW Inc. (NYSE:DNOW)

US Bancorp DE lowered its stake in shares of DNOW Inc. (NYSE:DNOW) by 6.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,885 shares of the oil and gas company’s stock after selling 854 shares during the quarter. US Bancorp DE’s holdings in DNOW were worth $167,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DNOW. Pacer Advisors Inc. lifted its stake in shares of DNOW by 71.5% in the second quarter. Pacer Advisors Inc. now owns 7,047,909 shares of the oil and gas company’s stock worth $96,768,000 after buying an additional 2,939,502 shares during the last quarter. American Century Companies Inc. lifted its position in DNOW by 141.2% during the 2nd quarter. American Century Companies Inc. now owns 1,568,267 shares of the oil and gas company’s stock worth $21,532,000 after acquiring an additional 918,131 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in DNOW by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,446,637 shares of the oil and gas company’s stock valued at $88,511,000 after acquiring an additional 390,671 shares during the period. Acadian Asset Management LLC bought a new stake in DNOW during the first quarter valued at about $4,571,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of DNOW in the first quarter valued at about $4,241,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Price Performance

Shares of DNOW stock opened at $14.59 on Friday. The company has a market cap of $1.54 billion, a PE ratio of 7.80 and a beta of 1.45. The firm has a fifty day moving average price of $12.60 and a two-hundred day moving average price of $13.31. DNOW Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $15.65.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. StockNews.com raised DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Stifel Nicolaus lifted their price target on DNOW from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th.

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.