Assenagon Asset Management S.A. Raises Holdings in DNOW Inc. (NYSE:DNOW)

Assenagon Asset Management S.A. increased its position in DNOW Inc. (NYSE:DNOW) by 68.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 200,208 shares of the oil and gas company’s stock after buying an additional 81,101 shares during the quarter. Assenagon Asset Management S.A. owned about 0.19% of DNOW worth $3,420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings in DNOW by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 885 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 valued at $32,000 after purchasing an additional 1,022 shares in the last quarter. Quarry LP increased its holdings 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 purchasing an additional 2,281 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in DNOW in the 4th quarter valued at $166,000. Finally, Polymer Capital Management US LLC acquired a new stake in DNOW in the 4th quarter valued at $192,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on DNOW shares. Wall Street Zen upgraded DNOW from a “hold” rating to a “buy” rating in a report on Saturday, April 26th. Susquehanna lowered their target price on DNOW from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, Stifel Nicolaus lowered their target price on DNOW from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, May 8th.

DNOW Price Performance

Shares of DNOW stock opened at $15.05 on Monday. The business has a 50-day moving average of $15.22 and a 200-day moving average of $14.98. The company has a market capitalization of $1.59 billion, a PE ratio of 20.62 and a beta of 1.09. DNOW Inc. has a 1-year low of $11.42 and a 1-year high of $18.45.

DNOW (NYSE:DNOW) last announced its earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. The company had revenue of $599.00 million during the quarter, compared to the consensus estimate of $587.17 million. DNOW had a return on equity of 9.04% and a net margin of 3.41%. The company’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $0.21 earnings per share. On average, equities analysts expect that DNOW Inc. will post 0.86 earnings per share for the current fiscal 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.