DNOW Inc. $DNOW Position Trimmed by LSV Asset Management

LSV Asset Management trimmed its stake in DNOW Inc. (NYSE:DNOW) by 6.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 745,100 shares of the oil and gas company’s stock after selling 53,200 shares during the quarter. LSV Asset Management’s holdings in DNOW were worth $11,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. First Citizens Bank & Trust Co. grew its stake in shares of DNOW by 203.4% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 49,815 shares of the oil and gas company’s stock valued at $739,000 after buying an additional 33,396 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in DNOW by 57.3% in the second 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. New York State Common Retirement Fund grew its position in DNOW by 25.3% in the third quarter. New York State Common Retirement Fund now owns 864,495 shares of the oil and gas company’s stock worth $13,184,000 after acquiring an additional 174,544 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of DNOW by 15.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,404,668 shares of the oil and gas company’s stock worth $21,421,000 after purchasing an additional 185,727 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of DNOW by 19.3% during the 2nd 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 purchasing an additional 386,383 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DNOW. Stifel Nicolaus reiterated a “buy” rating and issued a $18.00 price objective on shares of DNOW in a report on Monday, November 24th. Susquehanna upgraded DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price target for the company in a research note on Friday, November 21st. KeyCorp set a $19.00 price objective on DNOW in a report on Thursday, December 18th. Weiss Ratings restated a “hold (c)” rating on shares of DNOW in a report on Monday, December 29th. Finally, Wall Street Zen raised DNOW from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, DNOW presently has a consensus rating of “Buy” and a consensus price target of $17.67.

DNOW Stock Performance

NYSE DNOW opened at $16.45 on Friday. The stock has a 50-day simple moving average of $14.42 and a 200 day simple moving average of $14.61. DNOW Inc. has a twelve month low of $12.01 and a twelve month high of $17.83. The stock has a market capitalization of $1.73 billion, a PE ratio of 18.90 and a beta of 0.79.

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.