Hsbc Holdings PLC Sells 2,948 Shares of DNOW Inc. (NYSE:DNOW)

Hsbc Holdings PLC lessened its stake in DNOW Inc. (NYSE:DNOW) by 4.9% during the fourth quarter, HoldingsChannel reports. The firm owned 57,449 shares of the oil and gas company’s stock after selling 2,948 shares during the period. Hsbc Holdings PLC’s holdings in DNOW were worth $651,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of DNOW. Dimensional Fund Advisors LP boosted its position in DNOW by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,095,429 shares of the oil and gas company’s stock worth $69,001,000 after purchasing an additional 161,840 shares during the period. American Century Companies Inc. grew its stake in DNOW by 17.5% in the 3rd quarter. American Century Companies Inc. now owns 4,282,131 shares of the oil and gas company’s stock valued at $50,829,000 after buying an additional 639,219 shares in the last quarter. Global Alpha Capital Management Ltd. raised its holdings in DNOW by 38.6% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 2,487,826 shares of the oil and gas company’s stock valued at $28,162,000 after acquiring an additional 693,500 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in DNOW by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,989,506 shares of the oil and gas company’s stock valued at $22,521,000 after acquiring an additional 49,310 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of DNOW by 9.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,176,839 shares of the oil and gas company’s stock worth $13,969,000 after acquiring an additional 98,110 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Trading Up 0.6 %

Shares of DNOW traded up $0.08 during trading hours on Friday, reaching $14.34. 460,577 shares of the company’s stock traded hands, compared to its average volume of 702,614. The firm’s 50 day simple moving average is $14.67 and its 200-day simple moving average is $12.07. The stock has a market cap of $1.56 billion, a PE ratio of 6.35 and a beta of 1.48. DNOW Inc. has a 12 month low of $8.83 and a 12 month high of $15.57.

DNOW (NYSE:DNOW) last announced its earnings results on Thursday, February 15th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.07. The business had revenue of $555.00 million during the quarter, compared to analyst estimates of $540.83 million. DNOW had a net margin of 10.64% and a return on equity of 11.60%. DNOW’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. As a group, analysts expect that DNOW Inc. will post 1.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DNOW. StockNews.com cut DNOW from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th. Stifel Nicolaus lifted their target price on DNOW from $16.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Susquehanna upped their price target on DNOW from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, April 8th.

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.