River Road Asset Management LLC Trims Holdings in DNOW Inc. (NYSE:DNOW)

River Road Asset Management LLC reduced its stake in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 30.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 559,939 shares of the oil and gas company's stock after selling 248,278 shares during the quarter. River Road Asset Management LLC owned about 0.53% of DNOW worth $7,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of DNOW. Allspring Global Investments Holdings LLC increased its holdings in 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 valued at $38,000 after acquiring an additional 2,561 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of DNOW in the first quarter worth about $44,000. Quarry LP boosted its stake in DNOW by 75.6% during the second 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 bought a new stake in DNOW in the 2nd quarter worth approximately $67,000. Finally, nVerses Capital LLC purchased a new stake in shares of DNOW during the 3rd quarter worth approximately $78,000. Institutional investors own 97.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DNOW shares. Stifel Nicolaus boosted their price target on shares of DNOW from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Thursday, July 18th. StockNews.com upgraded shares of DNOW from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. Finally, Susquehanna lowered their price target on shares of DNOW from $15.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, July 11th.

DNOW Trading Up 13.2 %

NYSE:DNOW traded up $1.60 during midday trading on Wednesday, hitting $13.75. 1,357,792 shares of the company traded hands, compared to its average volume of 936,253. The firm has a market capitalization of $1.46 billion, a P/E ratio of 6.64 and a beta of 1.45. The firm's fifty day moving average is $12.41 and its 200-day moving average is $13.32. DNOW Inc. has a 12-month low of $9.44 and a 12-month high of $15.65.

DNOW (NYSE:DNOW - Get Free Report) last announced its earnings results on Wednesday, August 7th. The oil and gas company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). DNOW had a net margin of 9.70% and a return on equity of 9.93%. The firm had revenue of $633.00 million during the quarter, compared to analysts' expectations of $638.20 million. On average, research analysts expect that DNOW Inc. will post 0.85 EPS for the current fiscal year.

About DNOW

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.