Empowered Funds LLC Purchases 27,202 Shares of DNOW Inc. (NYSE:DNOW)

Empowered Funds LLC increased its position in shares of DNOW Inc. (NYSE:DNOW) by 5.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 535,660 shares of the oil and gas company’s stock after acquiring an additional 27,202 shares during the period. Empowered Funds LLC’s holdings in DNOW were worth $6,926,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DNOW. Royce & Associates LP grew its holdings in DNOW by 10.2% during the 3rd quarter. Royce & Associates LP now owns 612,638 shares of the oil and gas company’s stock worth $7,921,000 after acquiring an additional 56,787 shares during the last quarter. KBC Group NV lifted its holdings in shares of DNOW by 45.5% during the third quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,190 shares during the period. Victory Capital Management Inc. grew its stake in shares of DNOW by 35.4% in the third quarter. Victory Capital Management Inc. now owns 99,416 shares of the oil and gas company’s stock worth $1,285,000 after purchasing an additional 26,007 shares during the last quarter. Versor Investments LP acquired a new stake in DNOW in the third quarter valued at $463,000. Finally, Olympiad Research LP raised its position in DNOW by 32.1% during the 3rd quarter. Olympiad Research LP now owns 22,355 shares of the oil and gas company’s stock worth $289,000 after purchasing an additional 5,434 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

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

DNOW Stock Performance

NYSE:DNOW opened at $14.37 on Friday. DNOW Inc. has a 52 week low of $9.44 and a 52 week high of $15.65. The firm’s fifty day moving average is $12.70 and its 200-day moving average is $13.31. The firm has a market cap of $1.52 billion, a P/E ratio of 7.68 and a beta of 1.45.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. DNOW had a net margin of 8.70% and a return on equity of 8.90%. The business had revenue of $606.00 million for the quarter, compared to analysts’ expectations of $614.92 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that DNOW Inc. will post 0.84 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.