223,578 Shares in DNOW Inc. (NYSE:DNOW) Acquired by Informed Momentum Co LLC

Key Points

• Informed Momentum Co LLC acquired 223,578 shares of DNOW Inc. for approximately $3.8 million, representing a new position for the institutional investor.
• Other institutional investors, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and Allianz Asset Management GmbH, also increased their stakes in DNOW significantly during the last quarter.
• DNOW has shown a positive earnings report with a quarterly EPS of $0.27, surpassing analysts' estimates and reflecting a year-over-year revenue of $628 million.

Informed Momentum Co LLC bought a new stake in shares of DNOW Inc. (NYSE:DNOW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 223,578 shares of the oil and gas company's stock, valued at approximately $3,819,000. Informed Momentum Co LLC owned about 0.21% of DNOW at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Public Sector Pension Investment Board raised its holdings in shares of DNOW by 55.7% during the first quarter. Public Sector Pension Investment Board now owns 410,723 shares of the oil and gas company's stock valued at $7,015,000 after acquiring an additional 146,978 shares during the last quarter. Nuveen LLC acquired a new position in shares of DNOW during the first quarter valued at approximately $18,483,000. Covestor Ltd raised its holdings in shares of DNOW by 437.2% during the first quarter. Covestor Ltd now owns 4,507 shares of the oil and gas company's stock valued at $76,000 after acquiring an additional 3,668 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of DNOW by 21,663.6% during the first quarter. Headlands Technologies LLC now owns 2,394 shares of the oil and gas company's stock valued at $41,000 after acquiring an additional 2,383 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of DNOW during the first quarter valued at approximately $58,000. Institutional investors and hedge funds own 97.63% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wall Street Zen raised DNOW from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Stifel Nicolaus dropped their price target on DNOW from $19.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, July 21st.

DNOW Stock Performance

Shares of DNOW stock traded down $0.13 during trading hours on Thursday, reaching $14.86. The company had a trading volume of 1,793,288 shares, compared to its average volume of 1,166,433. The stock has a fifty day moving average of $14.83 and a 200-day moving average of $15.28. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 19.55 and a beta of 1.13. 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 posted its quarterly earnings results 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 business had revenue of $628.00 million during the quarter, compared to analyst estimates of $612.60 million. DNOW had a return on equity of 8.97% and a net margin of 3.45%. The business's revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 earnings per share. On average, analysts forecast that DNOW Inc. will post 0.86 EPS for the current year.

DNOW Profile

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.