Highland Capital Management LLC Purchases 1,827 Shares of DNOW Inc. (NYSE:DNOW)

Highland Capital Management LLC grew its position in shares of DNOW Inc. (NYSE:DNOW) by 14.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,748 shares of the oil and gas company’s stock after purchasing an additional 1,827 shares during the quarter. Highland Capital Management LLC’s holdings in DNOW were worth $202,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DNOW. Headlands Technologies LLC bought a new position in DNOW during the first quarter valued at approximately $44,000. CWM LLC lifted its stake in DNOW by 144.9% in the second quarter. CWM LLC now owns 6,767 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 4,004 shares during the last quarter. Lazard Asset Management LLC boosted its position in DNOW by 127.6% during the first quarter. Lazard Asset Management LLC now owns 8,946 shares of the oil and gas company’s stock valued at $135,000 after buying an additional 5,016 shares during the period. NorthCrest Asset Manangement LLC bought a new position in shares of DNOW during the second quarter valued at about $158,000. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of DNOW in the first quarter worth about $176,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Price Performance

DNOW traded up $0.35 during midday trading on Friday, reaching $12.90. 652,741 shares of the company’s stock traded hands, compared to its average volume of 990,180. DNOW Inc. has a 52 week low of $9.44 and a 52 week high of $15.65. The firm has a fifty day moving average of $13.60 and a two-hundred day moving average of $13.87. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 5.94 and a beta of 1.45.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DNOW shares. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Susquehanna cut their target price on shares of DNOW from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, Stifel Nicolaus upped their price target on shares of DNOW from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 18th.

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.