nVerses Capital LLC Makes New $78,000 Investment in DNOW Inc. (NYSE:DNOW)

nVerses Capital LLC acquired a new position in DNOW Inc. (NYSE:DNOW) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,000 shares of the oil and gas company’s stock, valued at approximately $78,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in DNOW by 1,062.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock worth $38,000 after buying an additional 2,561 shares in the last quarter. Headlands Technologies LLC acquired a new position in DNOW in the 1st quarter worth $44,000. Quarry LP lifted its holdings in DNOW by 75.6% in the 2nd 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 in the last quarter. Innealta Capital LLC acquired a new stake in shares of DNOW in the 2nd quarter valued at about $67,000. Finally, CWM LLC raised its stake in shares of DNOW by 144.9% in the 2nd quarter. CWM LLC now owns 6,767 shares of the oil and gas company’s stock valued at $93,000 after purchasing an additional 4,004 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Stock Down 1.7 %

DNOW opened at $12.43 on Monday. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 5.73 and a beta of 1.43. DNOW Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $15.65. The company’s 50-day moving average price is $12.60 and its 200 day moving average price is $13.57.

DNOW (NYSE:DNOW) last posted its earnings results on Wednesday, August 7th. The oil and gas company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). DNOW had a return on equity of 9.93% and a net margin of 9.70%. The firm had revenue of $633.00 million during the quarter, compared to the consensus estimate of $638.20 million. Research analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on DNOW shares. Stifel Nicolaus upped their target price on shares of DNOW from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. StockNews.com upgraded shares of DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, Susquehanna cut their target price on shares of DNOW from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th.

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.