35,834 Shares in DNOW Inc. (NYSE:DNOW) Purchased by Versor Investments LP

Versor Investments LP bought a new position in shares of DNOW Inc. (NYSE:DNOW - Free Report) during the third quarter, according to its most recent filing with the SEC. The fund bought 35,834 shares of the oil and gas company's stock, valued at approximately $463,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in shares of DNOW by 1,062.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company's stock valued at $38,000 after buying an additional 2,561 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of DNOW during the 1st quarter worth $44,000. Quarry LP raised its stake in DNOW by 75.6% in the second quarter. Quarry LP now owns 4,433 shares of the oil and gas company's stock valued at $61,000 after buying an additional 1,908 shares during the last quarter. Innealta Capital LLC purchased a new stake in DNOW in the second quarter valued at about $67,000. Finally, nVerses Capital LLC acquired a new stake in DNOW during the third quarter worth about $78,000. 97.63% of the stock is currently owned by institutional investors.

DNOW Stock Performance

Shares of DNOW traded down $0.22 during mid-day trading on Friday, reaching $14.37. 518,642 shares of the company's stock traded hands, compared to its average volume of 936,079. DNOW Inc. has a 12 month low of $9.44 and a 12 month high of $15.65. The stock has a market capitalization of $1.52 billion, a P/E ratio of 7.80 and a beta of 1.45. The business's 50-day moving average price is $12.60 and its 200-day moving average price is $13.31.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. DNOW had a net margin of 8.70% and a return on equity of 8.90%. The company had revenue of $606.00 million for the quarter, compared to the consensus estimate of $614.92 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The business's revenue was up 3.1% compared to the same quarter last year. Equities research analysts anticipate that DNOW Inc. will post 0.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DNOW shares. StockNews.com raised DNOW from a "hold" rating to a "buy" rating in a research note on Thursday, August 15th. Stifel Nicolaus boosted their target price on DNOW from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Thursday, July 18th.

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.