Geode Capital Management LLC Has $37.44 Million Holdings in DNOW Inc. $DNOW

Geode Capital Management LLC raised its stake in DNOW Inc. (NYSE:DNOW) by 1.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,524,052 shares of the oil and gas company’s stock after acquiring an additional 32,317 shares during the period. Geode Capital Management LLC’s holdings in DNOW were worth $37,437,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of DNOW. Ameriprise Financial Inc. lifted its stake in shares of DNOW by 376.3% in the 1st quarter. Ameriprise Financial Inc. now owns 2,914,681 shares of the oil and gas company’s stock valued at $49,802,000 after purchasing an additional 2,302,738 shares during the period. American Century Companies Inc. raised its holdings in shares of DNOW by 16.8% in the 1st quarter. American Century Companies Inc. now owns 2,003,050 shares of the oil and gas company’s stock worth $34,212,000 after acquiring an additional 288,311 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of DNOW by 5.3% during the second quarter. Allianz Asset Management GmbH now owns 1,218,941 shares of the oil and gas company’s stock valued at $18,077,000 after buying an additional 60,836 shares during the last quarter. Nuveen LLC bought a new stake in shares of DNOW in the 1st quarter worth $18,483,000. Finally, Bridgeway Capital Management LLC grew its position in DNOW by 1.2% in the 1st quarter. Bridgeway Capital Management LLC now owns 984,619 shares of the oil and gas company’s stock worth $16,817,000 after purchasing an additional 11,530 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of DNOW in a report on Wednesday, October 8th. Susquehanna upgraded DNOW from a “neutral” rating to a “positive” rating and set a $16.00 target price for the company in a research note on Friday, November 21st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $18.00 price target on shares of DNOW in a report on Monday. Finally, Zacks Research downgraded shares of DNOW from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.00.

DNOW Trading Down 0.5%

Shares of NYSE:DNOW opened at $13.88 on Thursday. DNOW Inc. has a 12 month low of $12.01 and a 12 month high of $18.45. The company has a 50-day moving average price of $14.37 and a 200-day moving average price of $14.79. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 15.95 and a beta of 1.01.

DNOW (NYSE:DNOW) last announced its earnings results 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 company had revenue of $634.00 million during the quarter, compared to the consensus estimate of $637.13 million. DNOW had a return on equity of 9.35% and a net margin of 3.91%.The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 earnings per share. As a group, research analysts forecast 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.