Algert Global LLC Grows Holdings in DNOW Inc. $DNOW

Algert Global LLC raised its stake in DNOW Inc. (NYSE:DNOW) by 325.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 472,779 shares of the oil and gas company’s stock after buying an additional 361,642 shares during the period. Algert Global LLC’s holdings in DNOW were worth $8,075,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in DNOW by 122.1% in the first quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company’s stock worth $32,000 after buying an additional 1,022 shares in the last quarter. Headlands Technologies LLC lifted its holdings in shares of DNOW by 21,663.6% in the 1st quarter. Headlands Technologies LLC now owns 2,394 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 2,383 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of DNOW in the 1st quarter worth approximately $58,000. Covestor Ltd boosted its stake in shares of DNOW by 437.2% in the 1st quarter. Covestor Ltd now owns 4,507 shares of the oil and gas company’s stock valued at $76,000 after purchasing an additional 3,668 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of DNOW by 69.2% during 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 during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DNOW. Stifel Nicolaus decreased their target price on shares of DNOW from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, July 21st. Zacks Research raised DNOW to a “strong-buy” rating in a research note on Friday, August 8th. Finally, Wall Street Zen raised DNOW from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th.

DNOW Trading Down 2.5%

Shares of NYSE DNOW opened at $14.52 on Monday. DNOW Inc. has a 12 month low of $11.42 and a 12 month high of $18.45. The firm has a market capitalization of $1.56 billion, a PE ratio of 19.11 and a beta of 1.13. The firm has a fifty day simple moving average of $14.83 and a two-hundred day simple moving average of $15.28.

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