Assenagon Asset Management S.A. Acquires 81,101 Shares of DNOW Inc. (NYSE:DNOW)

Assenagon Asset Management S.A. lifted its stake in DNOW Inc. (NYSE:DNOW - Free Report) by 68.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 200,208 shares of the oil and gas company's stock after buying an additional 81,101 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.19% of DNOW worth $3,420,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DNOW. Charles Schwab Investment Management Inc. raised its holdings in shares of DNOW by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company's stock worth $27,212,000 after acquiring an additional 25,402 shares in the last quarter. Amundi increased its position in DNOW by 186.4% in the fourth quarter. Amundi now owns 51,501 shares of the oil and gas company's stock worth $667,000 after purchasing an additional 33,520 shares during the last quarter. JPMorgan Chase & Co. raised its stake in DNOW by 6.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company's stock valued at $23,985,000 after purchasing an additional 112,135 shares in the last quarter. Nuveen Asset Management LLC lifted its position in DNOW by 0.6% during the fourth quarter. Nuveen Asset Management LLC now owns 934,375 shares of the oil and gas company's stock valued at $12,156,000 after purchasing an additional 5,578 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of DNOW in the 4th quarter worth $2,887,000. Institutional investors own 97.63% of the company's stock.

Analyst Ratings Changes

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

DNOW Price Performance

Shares of DNOW traded up $0.03 during midday trading on Tuesday, hitting $15.52. The stock had a trading volume of 973,079 shares, compared to its average volume of 931,209. The stock's 50 day moving average is $15.25 and its 200 day moving average is $14.99. The firm has a market cap of $1.64 billion, a PE ratio of 16.66 and a beta of 1.09. DNOW Inc. has a 1 year low of $11.42 and a 1 year high of $18.45.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share 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 analyst estimates of $587.17 million. DNOW had a net margin of 3.40% and a return on equity of 9.00%. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 EPS. As a group, equities research analysts expect that DNOW Inc. will post 0.86 earnings per share for the current fiscal 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.