Greenwood Capital Associates LLC lessened its position in DNOW Inc. (NYSE:DNOW – Free Report) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,217 shares of the oil and gas company’s stock after selling 2,043 shares during the period. Greenwood Capital Associates LLC owned about 0.06% of DNOW worth $693,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of DNOW. Summit Global Investments grew its stake in DNOW by 21.0% in the 4th quarter. Summit Global Investments now owns 16,726 shares of the oil and gas company’s stock worth $189,000 after acquiring an additional 2,900 shares during the period. Quest Partners LLC acquired a new position in DNOW in the fourth quarter valued at $216,000. Quantedge Capital Pte Ltd purchased a new position in DNOW during the fourth quarter worth about $216,000. Pathstone Family Office LLC lifted its position in DNOW by 10.2% during the third quarter. Pathstone Family Office LLC now owns 21,487 shares of the oil and gas company’s stock worth $255,000 after buying an additional 1,986 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in DNOW by 15.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,518 shares of the oil and gas company’s stock worth $300,000 after buying an additional 3,602 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.
DNOW Stock Down 3.2 %
Shares of NYSE DNOW traded down $0.43 during midday trading on Friday, hitting $13.07. The stock had a trading volume of 745,186 shares, compared to its average volume of 656,839. DNOW Inc. has a 1-year low of $9.44 and a 1-year high of $15.57. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 6.02 and a beta of 1.47. The company has a fifty day moving average price of $14.28 and a 200 day moving average price of $12.79.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on DNOW. Stifel Nicolaus increased their price objective on shares of DNOW from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Susquehanna cut their price target on shares of DNOW from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Finally, StockNews.com cut shares of DNOW from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th.
Check Out Our Latest Research Report on DNOW
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.
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