SummerHaven Investment Management LLC Has $1.03 Million Holdings in DNOW Inc. (NYSE:DNOW)

SummerHaven Investment Management LLC raised its stake in DNOW Inc. (NYSE:DNOW) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,319 shares of the oil and gas company’s stock after purchasing an additional 966 shares during the period. DNOW makes up approximately 0.7% of SummerHaven Investment Management LLC’s holdings, making the stock its 17th biggest position. SummerHaven Investment Management LLC owned 0.06% of DNOW worth $1,030,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Assenagon Asset Management S.A. grew its holdings in shares of DNOW by 68.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 200,208 shares of the oil and gas company’s stock worth $3,420,000 after purchasing an additional 81,101 shares in the last quarter. GAMMA Investing LLC lifted its position in DNOW by 122.1% in the first quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 1,022 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in DNOW during the first quarter worth $280,000. PharVision Advisers LLC acquired a new position in shares of DNOW in the 4th quarter valued at $279,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of DNOW by 3.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 233,911 shares of the oil and gas company’s stock worth $3,043,000 after acquiring an additional 8,610 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Stock Up 1.4%

Shares of DNOW stock opened at $15.08 on Thursday. DNOW Inc. has a 12-month low of $11.42 and a 12-month high of $18.45. The stock has a market capitalization of $1.59 billion, a P/E ratio of 20.65 and a beta of 1.09. The company has a 50-day simple moving average of $15.19 and a 200 day simple moving average of $14.98.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. DNOW had a net margin of 3.41% and a return on equity of 9.04%. The firm had revenue of $599.00 million for the quarter, compared to analysts’ expectations of $587.17 million. During the same period in the prior year, the firm earned $0.21 earnings per share. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DNOW. Susquehanna dropped their price target on shares of DNOW from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Stifel Nicolaus cut their target price on DNOW from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded DNOW from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th.

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.