Eagle Asset Management Inc. Buys 37,178 Shares of DNOW Inc. (NYSE:DNOW)

Eagle Asset Management Inc. increased its stake in shares of DNOW Inc. (NYSE:DNOW) by 15.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 277,298 shares of the oil and gas company’s stock after buying an additional 37,178 shares during the quarter. Eagle Asset Management Inc. owned 0.26% of DNOW worth $3,951,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of DNOW. Quadrature Capital Ltd grew its holdings in DNOW by 34.2% during the first quarter. Quadrature Capital Ltd now owns 25,177 shares of the oil and gas company’s stock worth $382,000 after buying an additional 6,415 shares in the last quarter. Lazard Asset Management LLC grew its stake in DNOW by 127.6% in the 1st quarter. Lazard Asset Management LLC now owns 8,946 shares of the oil and gas company’s stock valued at $135,000 after purchasing an additional 5,016 shares during the period. Price T Rowe Associates Inc. MD grew its stake in DNOW by 3.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 121,261 shares of the oil and gas company’s stock valued at $1,844,000 after purchasing an additional 3,786 shares during the period. First Hawaiian Bank bought a new position in DNOW in the 2nd quarter valued at $508,000. Finally, CWM LLC grew its stake in DNOW by 144.9% in the 2nd quarter. CWM LLC now owns 6,767 shares of the oil and gas company’s stock valued at $93,000 after purchasing an additional 4,004 shares during the period. Institutional investors own 97.63% of the company’s stock.

DNOW Price Performance

Shares of NYSE DNOW opened at $14.95 on Monday. DNOW Inc. has a one year low of $9.44 and a one year high of $15.65. The business’s fifty day moving average price is $12.97 and its 200-day moving average price is $13.32. The stock has a market capitalization of $1.58 billion, a PE ratio of 7.99 and a beta of 1.45.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 EPS for the quarter, beating 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 analysts’ expectations of $614.92 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities analysts expect that DNOW Inc. will post 0.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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.