Royce & Associates LP Raises Holdings in DNOW Inc. (NYSE:DNOW)

Royce & Associates LP lifted its holdings in shares of DNOW Inc. (NYSE:DNOW) by 10.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 612,638 shares of the oil and gas company’s stock after buying an additional 56,787 shares during the period. Royce & Associates LP’s holdings in DNOW were worth $7,921,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of DNOW by 1,062.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 2,561 shares during the period. KBC Group NV grew its holdings in 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 buying an additional 1,190 shares during the last quarter. Quarry LP grew its holdings in 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 buying an additional 1,908 shares during the last quarter. Innealta Capital LLC acquired a new stake in DNOW during the 2nd quarter valued at $67,000. Finally, nVerses Capital LLC acquired a new stake in DNOW during the 3rd quarter valued at $78,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Stock Performance

Shares of NYSE:DNOW opened at $14.37 on Monday. DNOW Inc. has a one year low of $9.44 and a one year high of $15.65. The business’s fifty day moving average price is $12.70 and its two-hundred day moving average price is $13.31. The stock has a market cap of $1.52 billion, a PE ratio of 7.68 and a beta of 1.45.

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

Analysts Set New Price Targets

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

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.