DNOW Inc. (NYSE:DNOW) Shares Bought by American Century Companies Inc.

American Century Companies Inc. grew its stake in DNOW Inc. (NYSE:DNOW) by 141.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,568,267 shares of the oil and gas company’s stock after buying an additional 918,131 shares during the period. American Century Companies Inc. owned 1.47% of DNOW worth $21,532,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake in DNOW by 1,062.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock worth $38,000 after buying an additional 2,561 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of DNOW during the first quarter worth approximately $44,000. Innealta Capital LLC purchased a new position in shares of DNOW during the second quarter worth approximately $67,000. CWM LLC increased its holdings in shares of 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 acquiring an additional 4,004 shares during the period. Finally, Quest Partners LLC purchased a new stake in DNOW in the 2nd quarter valued at $94,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Price Performance

NYSE:DNOW opened at $13.09 on Friday. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 6.03 and a beta of 1.43. DNOW Inc. has a 1-year low of $9.44 and a 1-year high of $15.65. The firm’s fifty day moving average price is $13.27 and its 200 day moving average price is $13.89.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $633.00 million for the quarter, compared to analyst estimates of $638.20 million. DNOW had a return on equity of 9.93% and a net margin of 9.70%. As a group, analysts expect that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DNOW shares. Stifel Nicolaus raised their price objective 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. Susquehanna dropped their price target on DNOW from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Finally, StockNews.com raised DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th.

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.