AlphaQuest LLC Acquires 7,297 Shares of DNOW Inc. $DNOW

AlphaQuest LLC raised its holdings in shares of DNOW Inc. (NYSE:DNOW) by 31.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,505 shares of the oil and gas company’s stock after purchasing an additional 7,297 shares during the period. AlphaQuest LLC’s holdings in DNOW were worth $452,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group increased its stake in shares of DNOW by 2,650.0% during the first quarter. Brooklyn Investment Group now owns 1,705 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 1,643 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of DNOW by 122.1% during the first 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. Headlands Technologies LLC increased its stake 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 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 first quarter valued at approximately $58,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of DNOW during the first quarter valued at approximately $63,000. Institutional investors own 97.63% of the company’s stock.

DNOW Stock Up 0.1%

NYSE:DNOW opened at $14.74 on Thursday. The company’s 50 day moving average price is $15.25 and its 200-day moving average price is $15.09. DNOW Inc. has a 52 week low of $11.54 and a 52 week high of $18.45. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 19.39 and a beta of 1.05.

DNOW (NYSE:DNOW) last issued its earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. DNOW had a net margin of 3.45% and a return on equity of 8.97%. The company had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $612.60 million. During the same quarter last year, the company posted $0.25 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis. As a group, sell-side analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DNOW shares. Stifel Nicolaus decreased their target price on shares of DNOW from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, July 21st. Zacks Research cut shares of DNOW from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of DNOW in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.