Martingale Asset Management L P Has $1.67 Million Stock Holdings in DNOW Inc. (NYSE:DNOW)

Martingale Asset Management L P lifted its holdings in DNOW Inc. (NYSE:DNOW) by 17.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 129,266 shares of the oil and gas company’s stock after purchasing an additional 19,578 shares during the period. Martingale Asset Management L P’s holdings in DNOW were worth $1,671,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of DNOW. Quantbot Technologies LP raised its holdings in DNOW by 159.8% in the 3rd quarter. Quantbot Technologies LP now owns 77,487 shares of the oil and gas company’s stock valued at $1,002,000 after acquiring an additional 47,659 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in DNOW during the 3rd quarter valued at about $674,000. Eagle Asset Management Inc. raised its stake in shares of DNOW by 15.5% in the third quarter. Eagle Asset Management Inc. now owns 277,298 shares of the oil and gas company’s stock valued at $3,951,000 after acquiring an additional 37,178 shares during the last quarter. Foundry Partners LLC boosted its stake in DNOW by 832.0% in the third quarter. Foundry Partners LLC now owns 365,795 shares of the oil and gas company’s stock worth $4,730,000 after purchasing an additional 326,547 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in DNOW by 129.4% during the 3rd quarter. Intech Investment Management LLC now owns 32,184 shares of the oil and gas company’s stock worth $416,000 after buying an additional 18,157 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Paul M. Coppinger sold 26,186 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $15.35, for a total transaction of $401,955.10. Following the completion of the transaction, the director now directly owns 56,568 shares in the company, valued at approximately $868,318.80. This trade represents a 31.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is owned by company insiders.

DNOW Stock Down 0.5 %

NYSE:DNOW opened at $15.05 on Monday. The stock’s fifty day simple moving average is $13.19 and its 200-day simple moving average is $13.35. The firm has a market capitalization of $1.59 billion, a P/E ratio of 8.05 and a beta of 1.45. DNOW Inc. has a 12-month low of $9.44 and a 12-month high of $15.65.

DNOW (NYSE:DNOW) last issued its earnings results on Thursday, November 7th. The oil and gas company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. DNOW had a net margin of 8.70% and a return on equity of 8.90%. The firm had revenue of $606.00 million during the quarter, compared to the consensus estimate of $614.92 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts expect that DNOW Inc. will post 0.84 earnings per share for the current year.

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.