KBC Group NV Purchases 1,190 Shares of DNOW Inc. (NYSE:DNOW)

KBC Group NV grew its holdings in shares of DNOW Inc. (NYSE:DNOW) by 45.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,806 shares of the oil and gas company’s stock after acquiring an additional 1,190 shares during the quarter. KBC Group NV’s holdings in DNOW were worth $49,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of DNOW. Allspring Global Investments Holdings LLC boosted its position in shares of DNOW by 1,062.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 2,561 shares in the last quarter. Quarry LP increased its stake in DNOW by 75.6% during the 2nd quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 1,908 shares in the last quarter. Innealta Capital LLC bought a new position in DNOW in the 2nd quarter valued at approximately $67,000. nVerses Capital LLC purchased a new stake in shares of DNOW during the third quarter valued at $78,000. Finally, CWM LLC lifted its position in 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 purchasing an additional 4,004 shares during the period. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

DNOW Stock Up 1.6 %

NYSE DNOW opened at $14.95 on Friday. DNOW Inc. has a twelve month low of $9.44 and a twelve month high of $15.65. The business has a 50-day moving average price of $12.97 and a 200-day moving average price of $13.33. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 7.99 and a beta of 1.45.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping 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 business had revenue of $606.00 million for the quarter, compared to the consensus estimate of $614.92 million. During the same quarter in the previous year, the company posted $0.25 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. Research analysts expect that DNOW Inc. will post 0.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th.

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.