EMC Capital Management Makes New Investment in DNOW Inc. $DNOW

EMC Capital Management acquired a new stake in DNOW Inc. (NYSE:DNOW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,793 shares of the oil and gas company’s stock, valued at approximately $101,000.

Several other hedge funds have also recently bought and sold shares of DNOW. Inspire Investing LLC raised its stake 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 acquiring an additional 36,574 shares during the period. Jane Street Group LLC raised its stake in shares of 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 valued at $12,619,000 after purchasing an additional 501,088 shares during the period. First Citizens Bank & Trust Co. lifted its position in shares of DNOW by 203.4% during 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 purchasing an additional 33,396 shares in the last quarter. CWM LLC boosted its stake in shares of DNOW by 111.0% in the first quarter. CWM LLC now owns 6,726 shares of the oil and gas company’s stock valued at $115,000 after purchasing an additional 3,539 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in DNOW by 203.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 608,180 shares of the oil and gas company’s stock worth $9,019,000 after buying an additional 407,972 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DNOW shares. Zacks Research cut shares of DNOW from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of DNOW in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.00.

DNOW Stock Performance

NYSE:DNOW opened at $12.60 on Thursday. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 14.48 and a beta of 1.01. DNOW Inc. has a one year low of $12.01 and a one year high of $18.45. The stock has a 50-day simple moving average of $14.56 and a 200 day simple moving average of $14.85.

DNOW (NYSE:DNOW) last released its 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 company had revenue of $634.00 million for 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%.DNOW’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. On average, equities research analysts forecast that DNOW Inc. will post 0.86 EPS for the current fiscal 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.