Y Intercept Hong Kong Ltd Raises Stock Holdings in DNOW Inc. $DNOW

Y Intercept Hong Kong Ltd grew its holdings in DNOW Inc. (NYSE:DNOW) by 525.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 286,542 shares of the oil and gas company’s stock after buying an additional 240,728 shares during the period. Y Intercept Hong Kong Ltd’s holdings in DNOW were worth $3,413,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Inspire Investing LLC grew its stake in shares of DNOW by 21.8% in the 1st quarter. Inspire Investing LLC now owns 43,262 shares of the oil and gas company’s stock valued at $515,000 after purchasing an additional 7,747 shares during the last quarter. Skylands Capital LLC boosted its position in shares of DNOW by 84.7% during the 1st quarter. Skylands Capital LLC now owns 91,650 shares of the oil and gas company’s stock worth $1,092,000 after purchasing an additional 42,017 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of DNOW by 14.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 29,177 shares of the oil and gas company’s stock worth $347,000 after purchasing an additional 3,685 shares during the period. Fruth Investment Management lifted its stake in shares of DNOW by 29.3% in the first quarter. Fruth Investment Management now owns 98,820 shares of the oil and gas company’s stock valued at $1,176,000 after purchasing an additional 22,420 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new stake in DNOW during the first quarter worth about $980,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DNOW shares. DA Davidson initiated coverage on DNOW in a research report on Tuesday, June 16th. They issued a “buy” rating and a $17.00 target price on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of DNOW in a research report on Wednesday, May 27th. Wall Street Zen downgraded DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research raised DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Finally, Freedom Capital raised DNOW to a “strong-buy” rating in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, DNOW presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

DNOW Price Performance

DNOW stock traded down $0.18 during trading hours on Tuesday, hitting $12.62. 338,979 shares of the stock traded hands, compared to its average volume of 3,226,670. The stock has a 50-day simple moving average of $13.24 and a 200 day simple moving average of $13.29. The company has a market cap of $2.30 billion, a P/E ratio of -17.30 and a beta of 0.83. DNOW Inc. has a one year low of $10.94 and a one year high of $17.26. The company has a current ratio of 2.42, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27.

DNOW (NYSE:DNOW) last posted its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). DNOW had a negative net margin of 4.14% and a positive return on equity of 4.94%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the business posted $0.22 EPS. The business’s revenue for the quarter was up 97.5% on a year-over-year basis. Equities analysts forecast that DNOW Inc. will post 0.31 earnings per share for the current year.

DNOW Profile

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.