DNOW Inc. $DNOW Shares Sold by Versor Investments LP

Key Points

• Versor Investments LP significantly reduced its stake in DNOW Inc. by 71.5%, ending the first quarter with 14,600 shares valued at approximately $249,000 after selling 36,634 shares.
• DNOW received positive ratings from analysts, with Wall Street Zen upgrading the stock from "hold" to "buy" and Zacks Research assigning a "strong-buy" rating, as the company has a consensus price target of $18.00.
• In its latest earnings report, DNOW surpassed expectations with earnings per share of $0.27 and revenue of $628 million, although the latter showed a year-over-year decline of 0.8%.

Versor Investments LP cut its stake in DNOW Inc. (NYSE:DNOW - Free Report) by 71.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,600 shares of the oil and gas company's stock after selling 36,634 shares during the period. Versor Investments LP's holdings in DNOW were worth $249,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DNOW. GAMMA Investing LLC boosted its position 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 worth $32,000 after acquiring an additional 1,022 shares during the last quarter. Headlands Technologies LLC boosted its position in shares of DNOW by 21,663.6% in the first quarter. Headlands Technologies LLC now owns 2,394 shares of the oil and gas company's stock worth $41,000 after acquiring an additional 2,383 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of DNOW in the first quarter worth approximately $58,000. Quarry LP boosted its position in shares of 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 during the last quarter. Finally, Covestor Ltd boosted its position in shares of DNOW by 437.2% in the first quarter. Covestor Ltd now owns 4,507 shares of the oil and gas company's stock worth $76,000 after acquiring an additional 3,668 shares during the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DNOW has been the topic of several research analyst reports. Wall Street Zen raised shares of DNOW from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Stifel Nicolaus reduced their price target on shares of DNOW from $19.00 to $18.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Finally, Zacks Research raised shares of DNOW to a "strong-buy" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $18.00.

DNOW Stock Up 0.1%

Shares of DNOW stock opened at $14.9750 on Friday. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 19.70 and a beta of 1.13. DNOW Inc. has a fifty-two week low of $11.42 and a fifty-two week high of $18.45. The firm's 50 day moving average price is $14.82 and its two-hundred day moving average price is $15.27.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.05. The company had revenue of $628.00 million for the quarter, compared to analyst estimates of $612.60 million. DNOW had a net margin of 3.45% and a return on equity of 8.97%. The business's quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share. On average, equities analysts forecast 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.

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