iSAM Funds UK Ltd Purchases Shares of 16,530 DNOW Inc. (NYSE:DNOW)

iSAM Funds UK Ltd acquired a new position in shares of DNOW Inc. (NYSE:DNOW) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 16,530 shares of the oil and gas company’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in DNOW by 1,062.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 2,561 shares during the period. KBC Group NV raised its holdings in DNOW by 45.5% during the 3rd quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 1,190 shares during the period. Quarry LP lifted its position in DNOW by 75.6% in the second quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock worth $61,000 after buying an additional 1,908 shares during the last quarter. Innealta Capital LLC purchased a new position in DNOW during the second quarter worth $67,000. Finally, nVerses Capital LLC bought a new position in DNOW during the third quarter valued at $78,000. 97.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of DNOW from a “hold” rating to a “buy” rating in a report on Thursday, August 15th.

DNOW Stock Performance

Shares of DNOW stock opened at $14.63 on Monday. The stock has a 50 day moving average price of $13.42 and a 200 day moving average price of $13.39. DNOW Inc. has a 52-week low of $9.44 and a 52-week high of $15.65. The firm has a market capitalization of $1.55 billion, a P/E ratio of 7.82 and a beta of 1.50.

DNOW (NYSE:DNOW) last released its earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The business had revenue of $606.00 million during the quarter, compared to the consensus estimate of $614.92 million. DNOW had a return on equity of 8.90% and a net margin of 8.70%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. As a group, sell-side analysts forecast that DNOW Inc. will post 0.81 EPS for the current year.

Insider Buying and Selling at DNOW

In other DNOW news, Director Paul M. Coppinger sold 26,186 shares of DNOW stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $15.35, for a total transaction of $401,955.10. Following the completion of the sale, the director now directly owns 56,568 shares of the company’s stock, valued at $868,318.80. The trade was a 31.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is owned by corporate insiders.

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.