Denali Advisors LLC Purchases Shares of 160,227 DNOW Inc. (NYSE:DNOW)

Denali Advisors LLC bought a new position in shares of 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 institutional investor bought 160,227 shares of the oil and gas company's stock, valued at approximately $2,737,000. Denali Advisors LLC owned approximately 0.15% of DNOW as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of DNOW in the fourth quarter valued at about $3,903,000. Intech Investment Management LLC grew its holdings in shares of DNOW by 24.7% in the fourth quarter. Intech Investment Management LLC now owns 40,138 shares of the oil and gas company's stock valued at $522,000 after purchasing an additional 7,954 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of DNOW by 0.8% in the fourth quarter. Teacher Retirement System of Texas now owns 100,117 shares of the oil and gas company's stock valued at $1,303,000 after purchasing an additional 792 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of DNOW in the fourth quarter valued at about $807,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of DNOW in the fourth quarter valued at about $450,000. Hedge funds and other institutional investors own 97.63% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on DNOW. 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. Stifel Nicolaus upped their target price on shares of DNOW from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Finally, Wall Street Zen raised shares of DNOW from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th.

DNOW Stock Performance

Shares of DNOW traded up $0.06 during mid-day trading on Friday, hitting $14.89. 2,132,512 shares of the company's stock were exchanged, compared to its average volume of 969,147. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 20.12 and a beta of 1.08. DNOW Inc. has a fifty-two week low of $11.42 and a fifty-two week high of $18.45. The stock's 50-day moving average is $14.74 and its 200-day moving average is $15.09.

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