Y Intercept Hong Kong Ltd Purchases Shares of 148,108 DNOW Inc. $DNOW

Y Intercept Hong Kong Ltd purchased a new stake in shares of DNOW Inc. (NYSE:DNOW) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 148,108 shares of the oil and gas company’s stock, valued at approximately $2,196,000. Y Intercept Hong Kong Ltd owned 0.14% of DNOW at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in DNOW. GAMMA Investing LLC lifted its stake in shares of DNOW by 122.1% in the first 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 during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of DNOW in the first quarter valued at about $220,000. Principal Financial Group Inc. lifted its stake in shares of DNOW by 2.5% in the first 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 during the period. Nisa Investment Advisors LLC lifted its stake in shares of DNOW by 15.9% in the first quarter. Nisa Investment Advisors LLC now owns 7,825 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 1,073 shares during the period. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of DNOW in the first quarter valued at about $183,000. Institutional investors own 97.63% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DNOW shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of DNOW in a research note on Wednesday, October 8th. Zacks Research cut shares of DNOW from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Stifel Nicolaus reduced their target price 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. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.00.

DNOW Stock Down 0.3%

Shares of DNOW opened at $14.73 on Friday. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 19.38 and a beta of 1.05. DNOW Inc. has a 12 month low of $11.54 and a 12 month high of $18.45. The company has a 50-day moving average price of $15.22 and a two-hundred day moving average price of $15.09.

DNOW (NYSE:DNOW) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $612.60 million. DNOW had a net margin of 3.45% and a return on equity of 8.97%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. Equities research analysts expect that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW Company 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.