DNOW Inc. $DNOW Shares Bought by Royce & Associates LP

Royce & Associates LP raised its position in DNOW Inc. (NYSE:DNOW) by 111.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,415,057 shares of the oil and gas company’s stock after acquiring an additional 745,348 shares during the period. Royce & Associates LP owned approximately 1.35% of DNOW worth $18,750,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd lifted its stake in shares of DNOW by 15.7% during the fourth quarter. Covestor Ltd now owns 4,614 shares of the oil and gas company’s stock worth $61,000 after buying an additional 626 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of DNOW by 1.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 45,540 shares of the oil and gas company’s stock worth $603,000 after buying an additional 860 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of DNOW by 12.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,191 shares of the oil and gas company’s stock worth $109,000 after buying an additional 892 shares during the period. Amalgamated Bank lifted its stake in shares of DNOW by 3.4% during the third quarter. Amalgamated Bank now owns 31,215 shares of the oil and gas company’s stock worth $476,000 after buying an additional 1,040 shares during the period. Finally, Investors Research Corp lifted its stake in shares of DNOW by 61.1% during the fourth quarter. Investors Research Corp now owns 3,001 shares of the oil and gas company’s stock worth $40,000 after buying an additional 1,138 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DNOW has been the subject of a number of research reports. Weiss Ratings downgraded shares of DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, February 27th. Zacks Research downgraded shares of DNOW from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 24th. Wall Street Zen downgraded shares of DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Stifel Nicolaus decreased their price objective on shares of DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Two analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.00.

DNOW Stock Up 1.3%

DNOW stock opened at $13.24 on Wednesday. The stock has a market capitalization of $2.42 billion, a P/E ratio of -18.14 and a beta of 0.85. The firm has a 50-day simple moving average of $12.46 and a 200-day simple moving average of $13.34. The company has a quick ratio of 1.14, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. DNOW Inc. has a 52 week low of $10.94 and a 52 week high of $17.26.

DNOW (NYSE:DNOW) last released its earnings results on Thursday, May 7th. The oil and gas company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.08 billion. DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.The firm’s revenue for the quarter was up 97.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 EPS. Equities analysts forecast that DNOW Inc. will post 0.31 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.