CWA Asset Management Group LLC Invests $832,000 in DNOW Inc. (NYSE:DNOW)

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

Several other hedge funds and other institutional investors also recently modified their holdings of DNOW. Smartleaf Asset Management LLC boosted its holdings in shares of DNOW by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 885 shares during the period. GAMMA Investing LLC raised its position in DNOW by 122.1% in the first quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company's stock worth $32,000 after acquiring an additional 1,022 shares in the last quarter. Quarry LP raised its position in DNOW by 69.2% in the fourth quarter. Quarry LP now owns 5,578 shares of the oil and gas company's stock worth $73,000 after acquiring an additional 2,281 shares in the last quarter. Quantinno Capital Management LP bought a new stake in DNOW in the fourth quarter worth about $166,000. Finally, Polymer Capital Management US LLC acquired a new stake in DNOW during the 4th quarter worth about $192,000. Institutional investors and hedge funds own 97.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wall Street Zen upgraded DNOW from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Susquehanna lowered their price target on DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Stifel Nicolaus reduced 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 Stock Up 1.3%

Shares of DNOW stock traded up $0.20 during trading hours on Friday, reaching $15.20. 2,382,046 shares of the company's stock were exchanged, compared to its average volume of 914,159. DNOW Inc. has a fifty-two week low of $11.42 and a fifty-two week high of $18.45. The stock has a market capitalization of $1.60 billion, a P/E ratio of 20.53 and a beta of 1.09. The business has a fifty day moving average price of $15.22 and a 200-day moving average price of $14.99.

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