Millennium Management LLC Boosts Stake in DNOW Inc. (NYSE:DNOW)

Millennium Management LLC raised its holdings in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 145.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 520,695 shares of the oil and gas company's stock after buying an additional 308,543 shares during the quarter. Millennium Management LLC owned about 0.49% of DNOW worth $6,774,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of DNOW by 5.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,387,769 shares of the oil and gas company's stock worth $31,065,000 after purchasing an additional 128,252 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of DNOW by 58.8% in the 4th quarter. Lazard Asset Management LLC now owns 187,685 shares of the oil and gas company's stock valued at $2,441,000 after acquiring an additional 69,527 shares during the last quarter. Gotham Asset Management LLC bought a new stake in shares of DNOW in the 4th quarter valued at about $653,000. Graham Capital Management L.P. lifted its stake in shares of DNOW by 578.5% in the 4th quarter. Graham Capital Management L.P. now owns 76,072 shares of the oil and gas company's stock valued at $990,000 after acquiring an additional 64,860 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of DNOW by 18.8% in the 4th quarter. Deutsche Bank AG now owns 183,020 shares of the oil and gas company's stock valued at $2,381,000 after acquiring an additional 28,937 shares during the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on DNOW. Stifel Nicolaus lowered their price target on DNOW from $20.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Wall Street Zen raised DNOW from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Finally, Susquehanna lowered their price target on DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, April 14th.

DNOW Trading Down 1.0%

DNOW traded down $0.15 during trading on Friday, hitting $14.42. 622,308 shares of the company's stock traded hands, compared to its average volume of 936,888. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 19.75 and a beta of 1.20. DNOW Inc. has a 12-month low of $11.42 and a 12-month high of $18.45. The company's 50 day simple moving average is $15.52 and its two-hundred day simple moving average is $14.98.

DNOW (NYSE:DNOW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. DNOW had a return on equity of 9.04% and a net margin of 3.41%. The company had revenue of $599.00 million for the quarter, compared to analysts' expectations of $587.17 million. During the same period last year, the firm earned $0.21 EPS. DNOW's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts expect that DNOW Inc. will post 0.86 EPS for the current 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.