Fox Run Management L.L.C. Grows Stock Position in DNOW Inc. $DNOW

Key Points

• Fox Run Management L.L.C. increased its stake in DNOW Inc. by 78.6%, acquiring an additional 27,189 shares in the 1st quarter, bringing its total ownership to 61,784 shares valued at approximately $1,055,000.
• Other institutional investors also significantly boosted their holdings in DNOW, with GAMMA Investing LLC raising its position by 122.1% and Headlands Technologies LLC increasing theirs by an impressive 21,663.6%.
• DNOW Inc. reported earnings of $0.27 per share in its latest quarter, surpassing analysts' expectations of $0.22, while its revenue also exceeded estimates at $628 million despite a year-over-year decline.

Fox Run Management L.L.C. increased its holdings in DNOW Inc. (NYSE:DNOW - Free Report) by 78.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,784 shares of the oil and gas company's stock after purchasing an additional 27,189 shares during the quarter. Fox Run Management L.L.C. owned 0.06% of DNOW worth $1,055,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in DNOW by 122.1% during the first quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company's stock worth $32,000 after buying an additional 1,022 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of DNOW by 21,663.6% during the 1st 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 period. New Age Alpha Advisors LLC acquired a new position in shares of DNOW during the 1st quarter valued at about $58,000. Quarry LP grew its holdings 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 valued at $73,000 after purchasing an additional 2,281 shares during the period. Finally, Covestor Ltd grew its holdings 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 valued at $76,000 after purchasing an additional 3,668 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Stock Performance

NYSE DNOW traded up $0.1250 on Wednesday, reaching $14.9250. The stock had a trading volume of 1,303,439 shares, compared to its average volume of 1,353,827. The stock has a market cap of $1.60 billion, a P/E ratio of 19.64 and a beta of 1.13. The business's 50-day moving average price is $14.83 and its 200 day moving average price is $15.27. DNOW Inc. has a 12-month low of $11.42 and a 12-month high of $18.45.

DNOW (NYSE:DNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. DNOW had a net margin of 3.45% and a return on equity of 8.97%. The company had revenue of $628.00 million for the quarter, compared to the consensus estimate of $612.60 million. During the same period last year, the firm posted $0.25 EPS. DNOW's revenue for the quarter was down .8% on a year-over-year basis. On average, sell-side analysts predict that DNOW Inc. will post 0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.