Summit Global Investments Purchases 2,900 Shares of DNOW Inc. (NYSE:DNOW)

Summit Global Investments lifted its stake in DNOW Inc. (NYSE:DNOW) by 21.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,726 shares of the oil and gas company’s stock after buying an additional 2,900 shares during the period. Summit Global Investments’ holdings in DNOW were worth $189,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. grew its position in shares of DNOW by 17.5% in the 3rd quarter. American Century Companies Inc. now owns 4,282,131 shares of the oil and gas company’s stock valued at $50,829,000 after buying an additional 639,219 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of DNOW by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,940,196 shares of the oil and gas company’s stock worth $23,030,000 after buying an additional 10,400 shares during the last quarter. Global Alpha Capital Management Ltd. boosted its position in DNOW by 22.7% in the third quarter. Global Alpha Capital Management Ltd. now owns 1,794,326 shares of the oil and gas company’s stock worth $21,299,000 after purchasing an additional 331,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in DNOW by 9.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,176,839 shares of the oil and gas company’s stock valued at $13,969,000 after buying an additional 98,110 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of DNOW by 4.7% in the fourth quarter. New York State Common Retirement Fund now owns 911,682 shares of the oil and gas company’s stock valued at $10,320,000 after buying an additional 40,723 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Trading Up 1.6 %

NYSE:DNOW opened at $14.58 on Tuesday. DNOW Inc. has a twelve month low of $8.83 and a twelve month high of $15.57. The company has a market cap of $1.59 billion, a P/E ratio of 6.45 and a beta of 1.48. The company’s 50-day moving average price is $14.69 and its 200-day moving average price is $12.09.

DNOW (NYSE:DNOW) last issued its earnings results on Thursday, February 15th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.07. DNOW had a return on equity of 11.60% and a net margin of 10.64%. The business had revenue of $555.00 million for the quarter, compared to analysts’ expectations of $540.83 million. During the same period in the previous year, the firm posted $0.25 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, analysts expect that DNOW Inc. will post 1.04 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on DNOW shares. StockNews.com cut shares of DNOW from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th. Susquehanna raised their target price on shares of DNOW from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus upped their price target on shares of DNOW from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th.

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.