Pacer Advisors Inc. Lowers Stock Holdings in DNOW Inc. (NYSE:DNOW)

Pacer Advisors Inc. lowered its stake in DNOW Inc. (NYSE:DNOW) by 18.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,764,275 shares of the oil and gas company’s stock after selling 1,283,634 shares during the period. Pacer Advisors Inc. owned approximately 5.41% of DNOW worth $74,532,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Foundry Partners LLC lifted its stake in shares of DNOW by 832.0% in the 3rd quarter. Foundry Partners LLC now owns 365,795 shares of the oil and gas company’s stock worth $4,730,000 after acquiring an additional 326,547 shares during the period. Intech Investment Management LLC raised its holdings in DNOW by 129.4% during the third quarter. Intech Investment Management LLC now owns 32,184 shares of the oil and gas company’s stock worth $416,000 after purchasing an additional 18,157 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its position in DNOW by 1.9% in the third quarter. Global Alpha Capital Management Ltd. now owns 2,622,426 shares of the oil and gas company’s stock valued at $33,908,000 after purchasing an additional 48,900 shares during the period. Prospera Financial Services Inc purchased a new stake in DNOW in the 3rd quarter valued at approximately $187,000. Finally, Quest Partners LLC raised its stake in shares of DNOW by 443.7% during the 3rd quarter. Quest Partners LLC now owns 37,265 shares of the oil and gas company’s stock worth $482,000 after buying an additional 30,411 shares in the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

DNOW Trading Up 0.7 %

Shares of DNOW stock opened at $14.76 on Friday. The company has a 50-day moving average of $12.86 and a two-hundred day moving average of $13.32. The stock has a market cap of $1.56 billion, a PE ratio of 7.89 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 quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $606.00 million during the quarter, compared to analysts’ expectations of $614.92 million. DNOW had a return on equity of 8.90% and a net margin of 8.70%. DNOW’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. On average, sell-side analysts forecast that DNOW Inc. will post 0.84 EPS for the current fiscal year.

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.