Olympiad Research LP Purchases 5,434 Shares of DNOW Inc. (NYSE:DNOW)

Olympiad Research LP grew its position in shares of DNOW Inc. (NYSE:DNOW) by 32.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 22,355 shares of the oil and gas company’s stock after buying an additional 5,434 shares during the quarter. Olympiad Research LP’s holdings in DNOW were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in DNOW by 1,062.7% during 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 during the period. Headlands Technologies LLC bought a new position in DNOW during the 1st quarter worth $44,000. Quarry LP increased its position in DNOW by 75.6% during 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 during the period. Innealta Capital LLC bought a new position in DNOW during the 2nd quarter worth $67,000. Finally, nVerses Capital LLC bought a new position in DNOW during the 3rd quarter worth $78,000. Institutional investors own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on DNOW. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Susquehanna decreased their price target on DNOW from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Finally, Stifel Nicolaus raised their price target on DNOW from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th.

DNOW Stock Performance

Shares of NYSE DNOW opened at $13.74 on Friday. DNOW Inc. has a 52 week low of $9.44 and a 52 week high of $15.65. The stock has a market capitalization of $1.46 billion, a P/E ratio of 6.64 and a beta of 1.45. The stock’s fifty day moving average is $12.44 and its 200 day moving average is $13.32.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). DNOW had a return on equity of 9.93% and a net margin of 9.70%. The company had revenue of $633.00 million during the quarter, compared to the consensus estimate of $638.20 million. Equities research analysts forecast that DNOW Inc. will post 0.85 earnings per share for the current year.

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.