AXQ Capital LP Purchases New Stake in DNOW Inc. $DNOW

AXQ Capital LP acquired a new position in DNOW Inc. (NYSE:DNOW) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 17,951 shares of the oil and gas company’s stock, valued at approximately $266,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Inspire Investing LLC boosted its holdings in shares of DNOW by 118.9% in the 1st quarter. Inspire Investing LLC now owns 67,342 shares of the oil and gas company’s stock valued at $1,150,000 after buying an additional 36,574 shares during the period. Jane Street Group LLC raised its stake in DNOW by 210.8% during the first quarter. Jane Street Group LLC now owns 738,843 shares of the oil and gas company’s stock worth $12,619,000 after acquiring an additional 501,088 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in DNOW by 203.4% in the second quarter. First Citizens Bank & Trust Co. now owns 49,815 shares of the oil and gas company’s stock worth $739,000 after acquiring an additional 33,396 shares during the last quarter. CWM LLC lifted its holdings in DNOW by 111.0% in the first quarter. CWM LLC now owns 6,726 shares of the oil and gas company’s stock worth $115,000 after acquiring an additional 3,539 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in DNOW by 203.8% in the second quarter. Assenagon Asset Management S.A. now owns 608,180 shares of the oil and gas company’s stock valued at $9,019,000 after acquiring an additional 407,972 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Stock Performance

DNOW stock opened at $13.83 on Tuesday. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 15.89 and a beta of 1.01. DNOW Inc. has a 1 year low of $12.01 and a 1 year high of $18.45. The firm’s 50 day moving average price is $14.43 and its two-hundred day moving average price is $14.80.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $634.00 million during the quarter, compared to the consensus estimate of $637.13 million. DNOW had a return on equity of 9.35% and a net margin of 3.91%.The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.21 EPS. As a group, equities analysts predict that DNOW Inc. will post 0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of DNOW in a research report on Wednesday, October 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $18.00 target price on shares of DNOW in a research report on Monday. Susquehanna upgraded DNOW from a “neutral” rating to a “positive” rating and set a $16.00 target price on the stock in a research note on Friday. Finally, Zacks Research downgraded shares of DNOW from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, DNOW currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

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.