JPMorgan Chase & Co. Has $21.66 Million Position in DNOW Inc. $DNOW

JPMorgan Chase & Co. raised its holdings in DNOW Inc. (NYSE:DNOW) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,420,279 shares of the oil and gas company’s stock after acquiring an additional 77,186 shares during the quarter. JPMorgan Chase & Co.’s holdings in DNOW were worth $21,659,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Ameriprise Financial Inc. raised its holdings in shares of DNOW by 2.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,987,198 shares of the oil and gas company’s stock valued at $44,300,000 after purchasing an additional 72,517 shares in the last quarter. Geode Capital Management LLC increased its position in DNOW by 1.3% during the second quarter. Geode Capital Management LLC now owns 2,524,052 shares of the oil and gas company’s stock worth $37,437,000 after buying an additional 32,317 shares during the last quarter. American Century Companies Inc. raised its holdings in DNOW by 19.3% during the second quarter. American Century Companies Inc. now owns 2,389,433 shares of the oil and gas company’s stock valued at $35,435,000 after buying an additional 386,383 shares in the last quarter. First Trust Advisors LP lifted its position in shares of DNOW by 470.7% in the second quarter. First Trust Advisors LP now owns 1,952,023 shares of the oil and gas company’s stock worth $28,949,000 after buying an additional 1,609,981 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of DNOW by 57.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,797,651 shares of the oil and gas company’s stock valued at $26,659,000 after acquiring an additional 654,490 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DNOW shares. KeyCorp set a $19.00 price objective on DNOW in a research note on Thursday, December 18th. Zacks Research lowered shares of DNOW from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 23rd. Stifel Nicolaus reduced their price objective on shares of DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Weiss Ratings lowered shares of DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday. Finally, Wall Street Zen downgraded shares of DNOW from a “strong-buy” rating to a “buy” rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.00.

DNOW Stock Down 0.7%

DNOW opened at $11.78 on Monday. The business has a 50 day moving average of $14.38 and a 200-day moving average of $14.52. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -40.61 and a beta of 0.80. The company has a current ratio of 2.34, a quick ratio of 1.11 and a debt-to-equity ratio of 0.18. DNOW Inc. has a 1-year low of $11.55 and a 1-year high of $17.48.

DNOW (NYSE:DNOW) last released its earnings results on Friday, February 20th. The oil and gas company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. DNOW had a negative net margin of 2.66% and a positive return on equity of 7.26%. The firm had revenue of $959.00 million during the quarter, compared to analysts’ expectations of $969.50 million. During the same period in the prior year, the company earned $0.25 EPS. The business’s quarterly revenue was up 68.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW Company Profile

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.