DNOW Inc. (NYSE:DNOW) Stock Position Increased by Summit Global Investments

Summit Global Investments grew its stake in shares of DNOW Inc. (NYSE:DNOW) by 25.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,205 shares of the oil and gas company’s stock after buying an additional 14,207 shares during the quarter. Summit Global Investments owned about 0.07% of DNOW worth $964,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DNOW. NorthCrest Asset Manangement LLC acquired a new position in shares of DNOW in the 2nd quarter worth approximately $158,000. CWM LLC grew its stake in shares of DNOW by 144.9% in the 2nd 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. First Hawaiian Bank acquired a new position in shares of DNOW in the 2nd quarter worth approximately $508,000. Price T Rowe Associates Inc. MD increased its position in shares of DNOW by 3.2% in the first 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 acquiring an additional 3,786 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of DNOW by 127.6% in the first quarter. Lazard Asset Management LLC now owns 8,946 shares of the oil and gas company’s stock worth $135,000 after acquiring an additional 5,016 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

DNOW Price Performance

Shares of DNOW traded down $0.56 during mid-day trading on Tuesday, hitting $12.43. 1,115,741 shares of the company’s stock were exchanged, compared to its average volume of 997,003. The company has a market cap of $1.33 billion, a PE ratio of 5.73 and a beta of 1.45. DNOW Inc. has a 52 week low of $9.44 and a 52 week high of $15.65. The company has a 50-day simple moving average of $13.64 and a 200 day simple moving average of $13.81.

DNOW 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.