Two Sigma Investments LP Increases Stake in DNOW Inc. (NYSE:DNOW)

Two Sigma Investments LP grew its holdings in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 117.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 307,712 shares of the oil and gas company's stock after purchasing an additional 166,166 shares during the quarter. Two Sigma Investments LP owned approximately 0.29% of DNOW worth $4,003,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. State of Wyoming increased its position in shares of DNOW by 117.8% during the 4th quarter. State of Wyoming now owns 24,507 shares of the oil and gas company's stock valued at $319,000 after purchasing an additional 13,257 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in shares of DNOW during the 4th quarter valued at about $386,000. ProShare Advisors LLC increased its position in shares of DNOW by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 31,791 shares of the oil and gas company's stock valued at $414,000 after purchasing an additional 9,769 shares during the last quarter. Quantinno Capital Management LP purchased a new stake in DNOW in the 4th quarter worth approximately $166,000. Finally, Man Group plc purchased a new stake in DNOW in the 4th quarter worth approximately $203,000. Hedge funds and other institutional investors own 97.63% of the company's stock.

DNOW Trading Down 0.2%

DNOW stock traded down $0.03 during midday trading on Monday, hitting $14.39. The stock had a trading volume of 564,405 shares, compared to its average volume of 935,385. The firm's fifty day moving average is $15.46 and its two-hundred day moving average is $14.98. The company has a market capitalization of $1.52 billion, a PE ratio of 19.71 and a beta of 1.20. DNOW Inc. has a 52-week low of $11.42 and a 52-week high of $18.45.

DNOW (NYSE:DNOW - Get Free Report) last released its 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. DNOW had a net margin of 3.41% and a return on equity of 9.04%. The company had revenue of $599.00 million during the quarter, compared to analyst estimates of $587.17 million. During the same period in the prior year, the firm posted $0.21 EPS. The firm's quarterly revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts predict that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DNOW shares. Stifel Nicolaus reduced their target price on shares of DNOW from $20.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Wall Street Zen raised shares of DNOW from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Finally, Susquehanna reduced their target price 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.

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.