DNOW Inc. (NYSE:DNOW) Position Raised by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its holdings in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 68.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 200,208 shares of the oil and gas company's stock after purchasing an additional 81,101 shares during the period. Assenagon Asset Management S.A. owned 0.19% of DNOW worth $3,420,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in shares of DNOW by 122.1% in the first quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company's stock valued at $32,000 after purchasing an additional 1,022 shares during the period. First Citizens Bank & Trust Co. purchased a new stake in shares of DNOW during the first quarter worth about $280,000. PharVision Advisers LLC acquired a new position in shares of DNOW in the fourth quarter worth about $279,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of DNOW by 3.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 233,911 shares of the oil and gas company's stock worth $3,043,000 after acquiring an additional 8,610 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in DNOW by 360.7% in the fourth quarter. Voloridge Investment Management LLC now owns 208,250 shares of the oil and gas company's stock valued at $2,709,000 after purchasing an additional 163,044 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company's stock.

DNOW Price Performance

DNOW traded down $0.55 during trading hours on Thursday, hitting $14.95. 856,979 shares of the stock were exchanged, compared to its average volume of 932,186. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 20.21 and a beta of 1.09. The stock has a 50-day simple moving average of $15.23 and a 200-day simple moving average of $14.99. DNOW Inc. has a 12 month low of $11.42 and a 12 month high of $18.45.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. The company had revenue of $599.00 million for the quarter, compared to the consensus estimate of $587.17 million. DNOW had a net margin of 3.40% and a return on equity of 9.00%. The company's revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $0.21 EPS. Sell-side analysts expect that DNOW Inc. will post 0.86 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wall Street Zen raised shares of DNOW from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Stifel Nicolaus reduced their price target on shares of DNOW from $20.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Susquehanna lowered their price objective on DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, April 14th.

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.