Y Intercept Hong Kong Ltd Has $3.58 Million Holdings in DNOW Inc. $DNOW

Y Intercept Hong Kong Ltd boosted its holdings in shares of DNOW Inc. (NYSE:DNOW) by 58.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 234,617 shares of the oil and gas company’s stock after acquiring an additional 86,509 shares during the period. Y Intercept Hong Kong Ltd owned 0.22% of DNOW worth $3,578,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Teacher Retirement System of Texas boosted its position in shares of DNOW by 26.2% in the 3rd quarter. Teacher Retirement System of Texas now owns 115,325 shares of the oil and gas company’s stock worth $1,759,000 after purchasing an additional 23,926 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in DNOW by 2,101.7% during the third quarter. Parkside Financial Bank & Trust now owns 2,620 shares of the oil and gas company’s stock worth $40,000 after buying an additional 2,501 shares during the last quarter. Strs Ohio grew its position in shares of DNOW by 4.9% during the 3rd quarter. Strs Ohio now owns 53,200 shares of the oil and gas company’s stock worth $811,000 after buying an additional 2,500 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of DNOW by 1.3% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 308,765 shares of the oil and gas company’s stock valued at $4,709,000 after acquiring an additional 3,954 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC acquired a new stake in shares of DNOW in the 3rd quarter valued at approximately $156,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

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

DNOW Stock Performance

NYSE:DNOW opened at $14.43 on Tuesday. DNOW Inc. has a 52-week low of $12.01 and a 52-week high of $18.45. The company has a market cap of $1.51 billion, a P/E ratio of 16.58 and a beta of 0.76. The stock’s 50-day simple moving average is $13.78 and its 200 day simple moving average is $14.51.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 earnings per share. As a group, equities analysts predict that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

DNOW Company 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.