Y Intercept Hong Kong Ltd Buys 86,509 Shares of DNOW Inc. $DNOW

Y Intercept Hong Kong Ltd grew its position in shares of DNOW Inc. (NYSE:DNOW) by 58.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 234,617 shares of the oil and gas company’s stock after buying an additional 86,509 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in DNOW were worth $3,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the business. Ameriprise Financial Inc. grew its stake in DNOW by 2.5% during the second quarter. Ameriprise Financial Inc. now owns 2,987,198 shares of the oil and gas company’s stock worth $44,300,000 after buying an additional 72,517 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of DNOW by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,524,052 shares of the oil and gas company’s stock worth $37,437,000 after acquiring an additional 32,317 shares in the last quarter. American Century Companies Inc. boosted its position in shares of DNOW by 19.3% during the 2nd quarter. American Century Companies Inc. now owns 2,389,433 shares of the oil and gas company’s stock worth $35,435,000 after acquiring an additional 386,383 shares in the last quarter. First Trust Advisors LP increased its stake in DNOW by 470.7% in the second quarter. First Trust Advisors LP now owns 1,952,023 shares of the oil and gas company’s stock valued at $28,949,000 after acquiring an additional 1,609,981 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in DNOW by 57.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,797,651 shares of the oil and gas company’s stock valued at $26,659,000 after purchasing an additional 654,490 shares in the last quarter. 97.63% of the stock is owned by institutional investors.

DNOW Stock Down 1.3%

Shares of NYSE:DNOW opened at $14.43 on Tuesday. The business has a fifty day simple moving average of $13.78 and a 200 day simple moving average of $14.51. DNOW Inc. has a 12-month low of $12.01 and a 12-month high of $18.45. The firm has a market cap of $1.51 billion, a P/E ratio of 16.58 and a beta of 0.76.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $634.00 million during the quarter, compared to analysts’ expectations of $637.13 million. DNOW had a return on equity of 9.35% and a net margin of 3.91%.The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. As a group, equities research analysts expect that DNOW Inc. will post 0.86 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on DNOW. KeyCorp set a $19.00 target price on DNOW in a research report on Thursday, December 18th. Zacks Research raised shares of DNOW from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Stifel Nicolaus reissued a “buy” rating and issued a $18.00 price objective on shares of DNOW in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DNOW in a research note on Monday, December 29th. Finally, Susquehanna upgraded shares of DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price target for the company in a report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $17.67.

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.