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

Royce & Associates LP grew its position in DNOW Inc. (NYSE:DNOW - Free Report) by 10.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 612,638 shares of the oil and gas company's stock after purchasing an additional 56,787 shares during the quarter. Royce & Associates LP owned about 0.58% of DNOW worth $7,921,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in DNOW. Janney Montgomery Scott LLC acquired a new position in shares of DNOW during the first quarter valued at about $555,000. Sei Investments Co. increased its stake in DNOW by 751.6% during the 1st quarter. Sei Investments Co. now owns 131,258 shares of the oil and gas company's stock valued at $1,995,000 after purchasing an additional 115,844 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of DNOW by 7.4% in the first quarter. ProShare Advisors LLC now owns 21,473 shares of the oil and gas company's stock worth $326,000 after buying an additional 1,480 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of DNOW during the first quarter worth $4,571,000. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of DNOW during the first quarter worth $534,000. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Stock Performance

NYSE DNOW traded up $0.03 on Monday, reaching $14.40. 525,181 shares of the company's stock traded hands, compared to its average volume of 934,239. DNOW Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $15.65. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 7.75 and a beta of 1.45. The stock has a 50 day moving average price of $12.70 and a 200-day moving average price of $13.31.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded DNOW from a "hold" rating to a "buy" rating in a research note on Thursday, August 15th.

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.