Heartland Advisors Inc. Buys New Shares in DNOW Inc. $DNOW

Heartland Advisors Inc. bought a new position in shares of DNOW Inc. (NYSE:DNOW) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 600,000 shares of the oil and gas company’s stock, valued at approximately $7,782,000. Heartland Advisors Inc. owned approximately 0.33% of DNOW as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in DNOW in the 2nd quarter valued at approximately $374,942,000. Vanguard Group Inc. grew its holdings in shares of DNOW by 66.1% during the 4th quarter. Vanguard Group Inc. now owns 19,498,204 shares of the oil and gas company’s stock worth $258,351,000 after purchasing an additional 7,762,071 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of DNOW by 187.2% during the 4th quarter. Wellington Management Group LLP now owns 10,813,205 shares of the oil and gas company’s stock worth $143,275,000 after purchasing an additional 7,048,382 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of DNOW by 60.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,374,585 shares of the oil and gas company’s stock valued at $137,466,000 after purchasing an additional 3,920,731 shares during the period. Finally, Boston Partners increased its position in shares of DNOW by 66.0% during the fourth quarter. Boston Partners now owns 7,859,416 shares of the oil and gas company’s stock valued at $104,171,000 after purchasing an additional 3,124,280 shares during the period. 97.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DNOW. Freedom Capital raised DNOW to a “strong-buy” rating in a research report on Monday, June 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of DNOW in a report on Wednesday, May 27th. Zacks Research upgraded shares of DNOW from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. DA Davidson increased their price objective on shares of DNOW from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Susquehanna raised their price objective on shares of DNOW from $16.00 to $19.00 and gave the stock a “positive” rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, DNOW has a consensus rating of “Moderate Buy” and a consensus price target of $18.25.

DNOW Trading Up 1.0%

DNOW stock opened at $15.69 on Friday. DNOW Inc. has a 1-year low of $10.94 and a 1-year high of $17.26. The company has a current ratio of 2.14, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $14.16 and its 200-day moving average is $13.45. The firm has a market cap of $2.84 billion, a P/E ratio of -14.66 and a beta of 0.82.

DNOW (NYSE:DNOW) last posted its earnings results on Thursday, August 6th. The oil and gas company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.27 billion. DNOW had a positive return on equity of 3.91% and a negative net margin of 4.58%.DNOW’s revenue was up 108.1% on a year-over-year basis. During the same quarter last year, the company earned $0.27 EPS. Equities analysts anticipate that DNOW Inc. will post 0.34 earnings per share for the current fiscal year.

DNOW 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.