DNOW Inc. $DNOW Holdings Boosted by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. raised its position in shares of DNOW Inc. (NYSE:DNOW) by 203.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,815 shares of the oil and gas company’s stock after purchasing an additional 33,396 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in DNOW were worth $739,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brooklyn Investment Group grew its holdings in shares of DNOW by 2,650.0% during the first quarter. Brooklyn Investment Group now owns 1,705 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 1,643 shares in the last quarter. GAMMA Investing LLC boosted its position in DNOW by 122.1% during the 1st quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 1,022 shares during the period. Headlands Technologies LLC grew its stake in DNOW by 21,663.6% during the 1st quarter. Headlands Technologies LLC now owns 2,394 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 2,383 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of DNOW in the 1st quarter valued at about $58,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of DNOW in the first quarter worth approximately $63,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Stock Performance

Shares of DNOW opened at $15.30 on Friday. The firm has a market cap of $1.64 billion, a PE ratio of 20.13 and a beta of 1.05. The firm’s 50 day moving average price is $15.25 and its 200 day moving average price is $15.11. DNOW Inc. has a twelve month low of $11.54 and a twelve month high of $18.45.

DNOW (NYSE:DNOW) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The company had revenue of $628.00 million for the quarter, compared to analyst estimates of $612.60 million. DNOW had a net margin of 3.45% and a return on equity of 8.97%. DNOW’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 EPS. On average, sell-side analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on DNOW shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of DNOW in a research report on Friday. Zacks Research lowered shares of DNOW from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Stifel Nicolaus dropped their price target on shares of DNOW from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, July 21st. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.00.

DNOW Company 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.