Deutsche Bank AG Makes New Investment in DNOW Inc. $DNOW

Deutsche Bank AG bought a new stake in DNOW Inc. (NYSE:DNOW) during the second quarter, HoldingsChannel.com reports. The firm bought 230,110 shares of the oil and gas company’s stock, valued at approximately $2,985,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP lifted its position in shares of DNOW by 712.6% during the 4th quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock worth $26,000 after buying an additional 1,703 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in DNOW by 8,060.0% in the first quarter. Sunbelt Securities Inc. now owns 2,448 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 2,418 shares in the last quarter. Clearstead Advisors LLC grew its position in DNOW by 132.5% in the fourth quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 1,383 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in DNOW by 190.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 1,589 shares during the last quarter. Finally, Arax Advisory Partners raised its stake in DNOW by 336.3% during the fourth quarter. Arax Advisory Partners now owns 2,797 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 2,156 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on DNOW shares. Weiss Ratings reissued a “sell (d+)” rating on shares of DNOW in a report on Monday. DA Davidson lifted their price target on shares of DNOW from $17.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 10th. Susquehanna increased their price objective on shares of DNOW from $16.00 to $19.00 and gave the company a “positive” rating in a research note on Friday, August 7th. Freedom Capital upgraded shares of DNOW to a “strong-buy” rating in a research report on Monday, June 22nd. Finally, Wall Street Zen raised shares of DNOW from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.25.

DNOW Stock Performance

NYSE DNOW opened at $15.97 on Thursday. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of -14.93 and a beta of 0.82. The company has a quick ratio of 1.06, a current ratio of 2.14 and a debt-to-equity ratio of 0.23. DNOW Inc. has a twelve month low of $10.94 and a twelve month high of $17.26. The stock has a fifty day simple moving average of $14.29 and a 200 day simple moving average of $13.43.

DNOW (NYSE:DNOW) last released its quarterly earnings results on Thursday, August 6th. The oil and gas company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.27 billion. DNOW had a positive return on equity of 3.91% and a negative net margin of 4.58%.The business’s revenue was up 108.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.27 EPS. Sell-side analysts expect that DNOW Inc. will post 0.34 EPS for the current 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.