Denali Advisors LLC Acquires 16,377 Shares of DNOW Inc. $DNOW

Denali Advisors LLC lifted its position in DNOW Inc. (NYSE:DNOW) by 10.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,604 shares of the oil and gas company’s stock after buying an additional 16,377 shares during the period. Denali Advisors LLC’s holdings in DNOW were worth $2,619,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of DNOW in the 1st quarter valued at $220,000. GAMMA Investing LLC increased its position in shares of 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 buying an additional 1,022 shares in the last quarter. Inspire Investing LLC increased its position 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 in the last quarter. Principal Financial Group Inc. increased its position in shares of DNOW by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 526,101 shares of the oil and gas company’s stock valued at $8,986,000 after buying an additional 12,797 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of DNOW by 210.8% in the 1st quarter. Jane Street Group LLC now owns 738,843 shares of the oil and gas company’s stock valued at $12,619,000 after buying an additional 501,088 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DNOW shares. Zacks Research lowered shares of DNOW from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Stifel Nicolaus reduced their price objective 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. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of DNOW in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.00.

DNOW Stock Up 2.3%

Shares of DNOW stock opened at $14.63 on Wednesday. The firm has a 50 day moving average price of $15.23 and a two-hundred day moving average price of $15.09. The company has a market capitalization of $1.57 billion, a PE ratio of 19.25 and a beta of 1.05. DNOW Inc. has a 12-month low of $11.54 and a 12-month high of $18.45.

DNOW (NYSE:DNOW) last issued its quarterly earnings data 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. The firm had revenue of $628.00 million during the quarter, compared to the consensus estimate of $612.60 million. DNOW had a net margin of 3.45% and a return on equity of 8.97%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the business posted $0.25 earnings per share. As a group, research analysts expect that DNOW Inc. will post 0.86 EPS for the current year.

About DNOW

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.