Brant Point Investment Management LLC Acquires New Shares in DNOW Inc. $DNOW

Brant Point Investment Management LLC bought a new position in shares of DNOW Inc. (NYSE:DNOW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 50,000 shares of the oil and gas company’s stock, valued at approximately $742,000.

Other institutional investors also recently bought and sold shares of the company. Inspire Investing LLC raised its holdings in DNOW by 118.9% in the 1st quarter. Inspire Investing LLC now owns 67,342 shares of the oil and gas company’s stock worth $1,150,000 after acquiring an additional 36,574 shares during the period. Jane Street Group LLC grew its position in shares of DNOW by 210.8% in the first quarter. Jane Street Group LLC now owns 738,843 shares of the oil and gas company’s stock valued at $12,619,000 after purchasing an additional 501,088 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of DNOW by 203.4% in the second quarter. First Citizens Bank & Trust Co. now owns 49,815 shares of the oil and gas company’s stock worth $739,000 after purchasing an additional 33,396 shares during the period. American Century Companies Inc. lifted 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 purchasing an additional 386,383 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in DNOW by 203.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 608,180 shares of the oil and gas company’s stock valued at $9,019,000 after purchasing an additional 407,972 shares during the period. 97.63% of the stock is currently owned by institutional investors.

DNOW Price Performance

Shares of DNOW stock opened at $13.96 on Monday. DNOW Inc. has a one year low of $12.01 and a one year high of $18.45. The stock has a fifty day moving average price of $14.18 and a 200 day moving average price of $14.72. The stock has a market cap of $1.47 billion, a P/E ratio of 16.04 and a beta of 0.81.

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

Wall Street Analyst Weigh In

DNOW has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of DNOW in a report 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. Stifel Nicolaus reissued a “buy” rating and issued a $18.00 price target on shares of DNOW in a report on Monday, November 24th. Finally, Susquehanna upgraded shares of DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price objective on the stock in a report on Friday, November 21st. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.00.

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.