DNOW Inc. (NYSE:DNOW) Stock Position Raised by Axa S.A.

Axa S.A. lifted its stake in shares of DNOW Inc. (NYSE:DNOW) by 34.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,802 shares of the oil and gas company’s stock after purchasing an additional 27,202 shares during the period. Axa S.A.’s holdings in DNOW were worth $1,466,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in shares of 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 in the last quarter. Headlands Technologies LLC acquired a new stake in DNOW during the 1st quarter valued at $44,000. Innealta Capital LLC purchased a new stake in shares of DNOW in the second quarter valued at $67,000. CWM LLC grew its holdings in shares of DNOW by 144.9% during the second quarter. CWM LLC now owns 6,767 shares of the oil and gas company’s stock valued at $93,000 after buying an additional 4,004 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in DNOW during the second quarter valued at $94,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Stock Performance

Shares of DNOW opened at $12.93 on Tuesday. The firm has a market cap of $1.38 billion, a PE ratio of 5.96 and a beta of 1.43. The firm’s 50 day moving average price is $13.11 and its 200 day moving average price is $13.81. DNOW Inc. has a twelve month low of $9.44 and a twelve month high of $15.65.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $633.00 million during the quarter, compared to analyst estimates of $638.20 million. DNOW had a net margin of 9.70% and a return on equity of 9.93%. On average, sell-side analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DNOW shares. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Stifel Nicolaus upped their price target on shares of DNOW from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Susquehanna reduced their price objective on DNOW from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th.

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.