CWA Asset Management Group LLC Purchases New Shares in DNOW Inc. (NYSE:DNOW)

CWA Asset Management Group LLC bought a new position in shares of DNOW Inc. (NYSE:DNOW - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 48,689 shares of the oil and gas company's stock, valued at approximately $832,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cooper Creek Partners Management LLC grew its stake in DNOW by 138.7% during the fourth quarter. Cooper Creek Partners Management LLC now owns 579,074 shares of the oil and gas company's stock worth $7,534,000 after purchasing an additional 336,474 shares during the period. Millennium Management LLC boosted its holdings in shares of DNOW by 145.4% during the 4th quarter. Millennium Management LLC now owns 520,695 shares of the oil and gas company's stock worth $6,774,000 after buying an additional 308,543 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of DNOW during the 4th quarter worth approximately $3,903,000. Norges Bank bought a new stake in shares of DNOW in the 4th quarter valued at $3,856,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of DNOW during the 4th quarter valued at $3,055,000. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Trading Up 1.1%

NYSE DNOW traded up $0.17 during mid-day trading on Tuesday, hitting $15.21. The company's stock had a trading volume of 539,018 shares, compared to its average volume of 912,392. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 20.56 and a beta of 1.09. The company's 50 day simple moving average is $15.22 and its 200 day simple moving average is $14.99. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on DNOW. Susquehanna reduced their price target on shares of DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Stifel Nicolaus cut their price objective 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, Wall Street Zen raised DNOW from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th.

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.