Trexquant Investment LP Sells 121,346 Shares of DNOW Inc. $DNOW

Key Points

• Trexquant Investment LP has significantly cut its position in DNOW Inc. by 64.6%, now holding 66,435 shares valued at $1,135,000 after selling 121,346 shares in the first quarter.
• Several other institutional investors have increased their stakes, with Jane Street Group LLC notably raising its position by 428.4% during the fourth quarter.
• DNOW recently reported earnings that exceeded consensus estimates, posting a net margin of 3.45% and revenue of $628 million, despite a 0.8% decline compared to the same quarter last year.

Trexquant Investment LP trimmed its position in DNOW Inc. (NYSE:DNOW - Free Report) by 64.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,435 shares of the oil and gas company's stock after selling 121,346 shares during the period. Trexquant Investment LP owned about 0.06% of DNOW worth $1,135,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of DNOW. Northern Trust Corp boosted its position in DNOW by 8.7% in the fourth quarter. Northern Trust Corp now owns 1,225,767 shares of the oil and gas company's stock worth $15,947,000 after purchasing an additional 98,437 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in DNOW in the fourth quarter worth about $270,000. Jane Street Group LLC boosted its position in DNOW by 428.4% in the fourth quarter. Jane Street Group LLC now owns 237,755 shares of the oil and gas company's stock worth $3,093,000 after purchasing an additional 192,757 shares during the last quarter. Algert Global LLC boosted its position in DNOW by 2.1% in the fourth quarter. Algert Global LLC now owns 111,137 shares of the oil and gas company's stock worth $1,446,000 after purchasing an additional 2,317 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in DNOW by 307.2% in the fourth quarter. BNP Paribas Financial Markets now owns 94,821 shares of the oil and gas company's stock worth $1,234,000 after purchasing an additional 71,535 shares during the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DNOW has been the topic of several research reports. Stifel Nicolaus dropped their target price on DNOW from $19.00 to $18.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Zacks Research raised DNOW to a "strong-buy" rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $18.00.

DNOW Price Performance

Shares of DNOW stock traded down $0.43 during trading hours on Friday, reaching $15.29. 717,404 shares of the company traded hands, compared to its average volume of 812,210. DNOW Inc. has a 12-month low of $11.54 and a 12-month high of $18.45. The company has a market cap of $1.64 billion, a P/E ratio of 20.12 and a beta of 1.21. The firm has a 50-day moving average price of $15.10 and a 200 day moving average price of $15.26.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings data 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 return on equity of 8.97% and a net margin of 3.45%.The firm had revenue of $628.00 million for the quarter, compared to analysts' expectations of $612.60 million. During the same period in the previous year, the firm earned $0.25 EPS. The business's quarterly revenue was down .8% on a year-over-year basis. Sell-side analysts predict 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.