GAMMA Investing LLC Raises Position in DNOW Inc. (NYSE:DNOW)

GAMMA Investing LLC lifted its position in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 3,693.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,752 shares of the oil and gas company's stock after acquiring an additional 30,915 shares during the period. GAMMA Investing LLC's holdings in DNOW were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in shares of DNOW by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 885 shares in the last quarter. Quarry LP increased its position in shares of DNOW by 69.2% during the fourth quarter. Quarry LP now owns 5,578 shares of the oil and gas company's stock valued at $73,000 after acquiring an additional 2,281 shares in the last quarter. Quantinno Capital Management LP bought a new stake in shares of DNOW during the fourth quarter valued at approximately $166,000. Polymer Capital Management US LLC bought a new stake in DNOW in the 4th quarter worth approximately $192,000. Finally, Man Group plc bought a new stake in DNOW in the 4th quarter worth approximately $203,000. Institutional investors own 97.63% of the company's stock.

Wall Street Analysts Forecast Growth

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

DNOW Trading Up 1.3%

NYSE:DNOW traded up $0.20 during trading hours on Friday, reaching $15.20. The company had a trading volume of 2,382,046 shares, compared to its average volume of 914,159. DNOW Inc. has a 52 week low of $11.42 and a 52 week high of $18.45. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 20.53 and a beta of 1.09. The firm's 50 day moving average price is $15.22 and its 200-day moving average price is $14.99.

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 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 company's revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.21 EPS. On average, analysts forecast that DNOW Inc. will post 0.86 earnings per share 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.