Hsbc Holdings PLC Has $651,000 Position in DNOW Inc. (NYSE:DNOW)

Hsbc Holdings PLC trimmed its position in DNOW Inc. (NYSE:DNOW) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,449 shares of the oil and gas company’s stock after selling 2,948 shares during the period. Hsbc Holdings PLC owned approximately 0.05% of DNOW worth $651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Aigen Investment Management LP raised its stake in DNOW by 250.8% during the 4th quarter. Aigen Investment Management LP now owns 78,845 shares of the oil and gas company’s stock worth $893,000 after buying an additional 56,369 shares during the period. Quest Partners LLC acquired a new stake in shares of DNOW during the fourth quarter worth about $216,000. Global Alpha Capital Management Ltd. lifted its holdings in shares of DNOW by 38.6% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 2,487,826 shares of the oil and gas company’s stock valued at $28,162,000 after purchasing an additional 693,500 shares in the last quarter. Norges Bank acquired a new position in shares of DNOW in the 4th quarter valued at approximately $8,312,000. Finally, Dimensional Fund Advisors LP increased its stake in DNOW by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,095,429 shares of the oil and gas company’s stock worth $69,001,000 after purchasing an additional 161,840 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on DNOW shares. Stifel Nicolaus lifted their target price on DNOW from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. StockNews.com downgraded shares of DNOW from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th. Finally, Susquehanna increased their target price on shares of DNOW from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, April 8th.

DNOW Stock Performance

Shares of DNOW stock traded up $0.08 on Friday, hitting $14.34. The company’s stock had a trading volume of 460,577 shares, compared to its average volume of 702,614. DNOW Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $15.57. The company has a market capitalization of $1.56 billion, a PE ratio of 6.35 and a beta of 1.48. The stock’s 50 day moving average is $14.67 and its 200-day moving average is $12.07.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.07. DNOW had a return on equity of 11.60% and a net margin of 10.64%. The business had revenue of $555.00 million during the quarter, compared to analysts’ expectations of $540.83 million. During the same period in the previous year, the company posted $0.25 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, research analysts forecast that DNOW Inc. will post 1.04 earnings per share for the current 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.