Jacobs Levy Equity Management Inc. Sells 7,829 Shares of DNOW Inc. (NYSE:DNOW)

Jacobs Levy Equity Management Inc. lowered its position in DNOW Inc. (NYSE:DNOW) by 0.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,278,861 shares of the oil and gas company’s stock after selling 7,829 shares during the period. Jacobs Levy Equity Management Inc. owned 1.20% of DNOW worth $19,439,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in DNOW by 3.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 121,261 shares of the oil and gas company’s stock worth $1,844,000 after purchasing an additional 3,786 shares during the last quarter. Lazard Asset Management LLC raised its position in DNOW by 127.6% in the 1st quarter. Lazard Asset Management LLC now owns 8,946 shares of the oil and gas company’s stock worth $135,000 after purchasing an additional 5,016 shares during the last quarter. Quadrature Capital Ltd raised its position in shares of DNOW by 34.2% during the 1st quarter. Quadrature Capital Ltd now owns 25,177 shares of the oil and gas company’s stock valued at $382,000 after acquiring an additional 6,415 shares during the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of DNOW during the 1st quarter valued at $534,000. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of DNOW during the 1st quarter valued at $4,241,000. Institutional investors own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Susquehanna decreased their price target on shares of DNOW from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Stifel Nicolaus boosted 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 Stock Performance

NYSE DNOW traded up $0.10 on Wednesday, reaching $15.43. The company had a trading volume of 246,511 shares, compared to its average volume of 994,945. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 7.06 and a beta of 1.45. DNOW Inc. has a 1-year low of $9.44 and a 1-year high of $15.57. The company’s fifty day moving average is $13.85 and its 200-day moving average is $13.46.

DNOW (NYSE:DNOW) last announced its earnings results on Friday, May 10th. The oil and gas company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The company had revenue of $563.00 million during the quarter, compared to analyst estimates of $569.15 million. DNOW had a return on equity of 10.39% and a net margin of 10.30%. DNOW’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. On average, research analysts forecast that DNOW Inc. will post 1.06 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.