New Age Alpha Advisors LLC Buys Shares of 3,413 DNOW Inc. (NYSE:DNOW)

New Age Alpha Advisors LLC bought a new stake in DNOW Inc. (NYSE:DNOW) during the first quarter, HoldingsChannel.com reports. The firm bought 3,413 shares of the oil and gas company’s stock, valued at approximately $58,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DNOW. Allianz Asset Management GmbH grew its position in DNOW by 72.2% in the first quarter. Allianz Asset Management GmbH now owns 1,158,105 shares of the oil and gas company’s stock valued at $19,780,000 after acquiring an additional 485,650 shares during the last quarter. Millennium Management LLC grew its position in DNOW by 145.4% in the fourth quarter. Millennium Management LLC now owns 520,695 shares of the oil and gas company’s stock valued at $6,774,000 after acquiring an additional 308,543 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of DNOW during the fourth quarter worth about $3,903,000. Integrated Wealth Concepts LLC bought a new stake in shares of DNOW during the fourth quarter worth about $3,055,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of DNOW during the fourth quarter worth about $2,887,000. Institutional investors own 97.63% of the company’s stock.

DNOW Trading Down 3.9%

NYSE:DNOW opened at $14.39 on Tuesday. The stock has a market cap of $1.54 billion, a P/E ratio of 18.93 and a beta of 1.13. The stock’s 50-day moving average is $14.82 and its 200-day moving average is $15.29. DNOW Inc. has a 1-year low of $11.42 and a 1-year high of $18.45.

DNOW (NYSE:DNOW) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 8.97% and a net margin of 3.45%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 earnings per share. As a group, equities analysts forecast that DNOW Inc. will post 0.86 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on DNOW shares. Stifel Nicolaus reduced their price target on DNOW from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, July 21st. Susquehanna reduced their price target on DNOW from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Wall Street Zen upgraded DNOW from a “hold” rating to a “buy” rating in a report on Saturday, April 26th.

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.