47,424 Shares in DNOW Inc. $DNOW Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC acquired a new stake in shares of DNOW Inc. (NYSE:DNOW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,424 shares of the oil and gas company’s stock, valued at approximately $703,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in shares of DNOW by 190.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 1,589 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in DNOW in the 1st quarter valued at approximately $63,000. EMC Capital Management bought a new stake in DNOW during the 2nd quarter valued at $101,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of DNOW during the second quarter worth $162,000. Finally, Caxton Associates LLP purchased a new stake in shares of DNOW during the second quarter worth $178,000. Institutional investors own 97.63% of the company’s stock.

DNOW Price Performance

Shares of DNOW opened at $13.61 on Wednesday. DNOW Inc. has a 1-year low of $12.01 and a 1-year high of $18.45. The company has a market capitalization of $1.43 billion, a P/E ratio of 15.64 and a beta of 0.81. The firm’s 50 day simple moving average is $13.90 and its 200 day simple moving average is $14.67.

DNOW (NYSE:DNOW) last released its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $634.00 million during the quarter, compared to analysts’ expectations of $637.13 million. DNOW had a net margin of 3.91% and a return on equity of 9.35%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 EPS. On average, equities analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $18.00 price target on shares of DNOW in a research report on Monday, November 24th. Zacks Research lowered DNOW from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of DNOW in a research report on Wednesday, October 8th. KeyCorp set a $19.00 price target on shares of DNOW in a report on Thursday, December 18th. Finally, Susquehanna raised shares of DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price objective for the company in a research note on Friday, November 21st. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.67.

DNOW Company Profile

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.