Versor Investments LP Acquires Shares of 35,834 DNOW Inc. (NYSE:DNOW)

Versor Investments LP bought a new position in shares of DNOW Inc. (NYSE:DNOW) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 35,834 shares of the oil and gas company’s stock, valued at approximately $463,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Pacer Advisors Inc. raised its position in shares of DNOW by 71.5% during the 2nd quarter. Pacer Advisors Inc. now owns 7,047,909 shares of the oil and gas company’s stock worth $96,768,000 after purchasing an additional 2,939,502 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of DNOW by 141.2% during the second quarter. American Century Companies Inc. now owns 1,568,267 shares of the oil and gas company’s stock valued at $21,532,000 after acquiring an additional 918,131 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of DNOW by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,446,637 shares of the oil and gas company’s stock valued at $88,511,000 after acquiring an additional 390,671 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of DNOW in the first quarter worth approximately $4,571,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of DNOW during the first quarter worth approximately $4,241,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on DNOW. Stifel Nicolaus lifted their target price on shares of DNOW from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. StockNews.com upgraded shares of DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th.

DNOW Stock Performance

Shares of DNOW stock opened at $14.59 on Friday. The business’s 50 day moving average price is $12.60 and its 200 day moving average price is $13.31. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 7.80 and a beta of 1.45. DNOW Inc. has a one year low of $9.44 and a one year high of $15.65.

DNOW (NYSE:DNOW) last announced its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share for the quarter, beating 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 firm had revenue of $606.00 million for the quarter, compared to analysts’ expectations of $614.92 million. During the same quarter in the previous year, the company posted $0.25 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. On average, analysts predict that DNOW Inc. will post 0.84 EPS for the current fiscal year.

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.