Russell Investments Group Ltd. Acquires 59,399 Shares of DNOW Inc. $DNOW

Key Points

• Russell Investments Group Ltd. increased its stake in DNOW Inc. by 21.6%, owning 334,181 shares worth approximately $5.7 million as of the latest SEC filing.
• Institutional investors collectively hold 97.63% of DNOW's stock, with significant increases in holdings reported by various firms like GAMMA Investing LLC and Headlands Technologies LLC.
• DNOW reported a $0.27 EPS for the latest quarter, surpassing estimates, while analysts predict a full-year EPS of $0.86 and have an average rating of "Buy" for the stock.

Russell Investments Group Ltd. lifted its position in DNOW Inc. (NYSE:DNOW - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 334,181 shares of the oil and gas company's stock after acquiring an additional 59,399 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.32% of DNOW worth $5,708,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in DNOW by 122.1% in the 1st 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 in 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 valued at $41,000 after purchasing an additional 2,383 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of DNOW during the 1st quarter valued at $58,000. Quarry LP grew its stake in DNOW by 69.2% in the 4th quarter. Quarry LP now owns 5,578 shares of the oil and gas company's stock valued at $73,000 after buying an additional 2,281 shares during the last quarter. Finally, Covestor Ltd grew its stake in DNOW by 437.2% in the 1st quarter. Covestor Ltd now owns 4,507 shares of the oil and gas company's stock valued at $76,000 after buying an additional 3,668 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company's stock.

DNOW Stock Up 1.6%

NYSE DNOW traded up $0.26 during trading on Tuesday, reaching $15.92. 685,510 shares of the stock traded hands, compared to its average volume of 1,316,569. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 20.94 and a beta of 1.13. The stock's 50-day moving average price is $14.85 and its 200 day moving average price is $15.31. DNOW Inc. has a fifty-two week low of $11.42 and a fifty-two week high of $18.45.

DNOW (NYSE:DNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.05. DNOW had a net margin of 3.45% and a return on equity of 8.97%. The firm had revenue of $628.00 million for the quarter, compared to analyst estimates of $612.60 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The business's revenue was down .8% on a year-over-year basis. Analysts anticipate that DNOW Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DNOW has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their target price on shares of DNOW from $19.00 to $18.00 and set a "buy" rating on the stock in a research note on Monday, July 21st. Zacks Research raised shares of DNOW to a "strong-buy" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $18.00.

DNOW Company 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.