Russell Investments Group Ltd. Increases Stock Position in DNOW Inc. $DNOW

Russell Investments Group Ltd. boosted its position in shares of DNOW Inc. (NYSE:DNOW) by 21.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 334,181 shares of the oil and gas company’s stock after acquiring an additional 59,399 shares during the period. Russell Investments Group Ltd. owned 0.32% of DNOW worth $5,708,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DNOW. GAMMA Investing LLC raised its holdings 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 worth $32,000 after buying an additional 1,022 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of DNOW by 21,663.6% in the first quarter. Headlands Technologies LLC now owns 2,394 shares of the oil and gas company’s stock worth $41,000 after buying an additional 2,383 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of DNOW in the first quarter worth $58,000. Covestor Ltd raised its holdings in shares of DNOW by 437.2% in the first quarter. Covestor Ltd now owns 4,507 shares of the oil and gas company’s stock worth $76,000 after buying an additional 3,668 shares during the last quarter. Finally, Quarry LP increased its stake in shares of DNOW by 69.2% in the fourth quarter. Quarry LP now owns 5,578 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 2,281 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Stock Performance

DNOW stock opened at $14.9250 on Thursday. The firm has a market cap of $1.60 billion, a PE ratio of 19.64 and a beta of 1.13. The firm’s fifty day moving average is $14.83 and its 200 day moving average is $15.27. DNOW Inc. has a one year low of $11.42 and a one year high of $18.45.

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

Analyst Ratings Changes

DNOW has been the topic of a number of research reports. Zacks Research upgraded shares of DNOW to a “strong-buy” rating in a research note on Friday, August 8th. Wall Street Zen upgraded shares of DNOW from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th. Finally, Stifel Nicolaus cut their price objective on shares of DNOW from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $18.00.

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.