Allianz Asset Management GmbH Acquires 185,727 Shares of DNOW Inc. $DNOW

Allianz Asset Management GmbH increased its holdings in DNOW Inc. (NYSE:DNOW) by 15.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,404,668 shares of the oil and gas company’s stock after purchasing an additional 185,727 shares during the period. Allianz Asset Management GmbH’s holdings in DNOW were worth $21,421,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of DNOW. Royal Bank of Canada lifted its holdings in DNOW by 28.2% during the 1st quarter. Royal Bank of Canada now owns 35,783 shares of the oil and gas company’s stock worth $611,000 after buying an additional 7,867 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of DNOW by 53.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,708 shares of the oil and gas company’s stock worth $6,127,000 after acquiring an additional 124,797 shares during the last quarter. KLP Kapitalforvaltning AS lifted its stake in shares of DNOW by 5.8% in the second quarter. KLP Kapitalforvaltning AS now owns 65,600 shares of the oil and gas company’s stock worth $973,000 after acquiring an additional 3,600 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in DNOW by 228.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 48,009 shares of the oil and gas company’s stock valued at $712,000 after acquiring an additional 33,396 shares during the last quarter. Finally, Ritholtz Wealth Management bought a new stake in DNOW in the second quarter valued at approximately $187,000. 97.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on DNOW shares. Stifel Nicolaus restated a “buy” rating and set a $18.00 price target on shares of DNOW in a report on Monday, November 24th. Susquehanna raised shares of 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DNOW in a research report on Monday, December 29th. KeyCorp set a $19.00 price target on DNOW in a report on Thursday, December 18th. Finally, Wall Street Zen downgraded DNOW from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, DNOW currently has an average rating of “Buy” and an average price target of $17.67.

DNOW Trading Up 3.0%

NYSE:DNOW opened at $16.77 on Friday. DNOW Inc. has a 12 month low of $12.01 and a 12 month high of $18.45. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 19.28 and a beta of 0.79. The firm has a fifty day simple moving average of $14.18 and a two-hundred day simple moving average of $14.58.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $634.00 million for the quarter, compared to analyst estimates of $637.13 million. DNOW had a net margin of 3.91% and a return on equity of 9.35%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. Equities analysts predict that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

About DNOW

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.