116,266 DNOW Inc. $DNOW Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC reduced its position in shares of DNOW Inc. (NYSE:DNOW) by 4.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,777,216 shares of the oil and gas company’s stock after selling 116,266 shares during the period. Pzena Investment Management LLC’s holdings in DNOW were worth $43,047,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of DNOW in the second quarter worth $374,942,000. Wellington Management Group LLP increased its stake in DNOW by 15.6% in the 2nd quarter. Wellington Management Group LLP now owns 19,513,068 shares of the oil and gas company’s stock worth $253,084,000 after acquiring an additional 2,633,894 shares during the last quarter. Engine Capital Management LP bought a new position in DNOW in the 1st quarter worth about $61,525,000. First Trust Advisors LP raised its holdings in shares of DNOW by 2,335.0% in the 1st quarter. First Trust Advisors LP now owns 4,065,728 shares of the oil and gas company’s stock valued at $48,423,000 after acquiring an additional 3,898,758 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of DNOW in the 2nd quarter valued at about $42,540,000. Institutional investors own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DNOW shares. Weiss Ratings upgraded DNOW from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Freedom Broker cut shares of DNOW from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a research report on Thursday, September 10th. Susquehanna raised their target price 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. Wall Street Zen upgraded shares of DNOW from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, DA Davidson boosted their price target on shares of DNOW from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.20.

DNOW Price Performance

Shares of DNOW stock opened at $15.39 on Thursday. The firm has a market capitalization of $2.78 billion, a PE ratio of 29.82 and a beta of 0.95. The company has a current ratio of 2.14, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. DNOW Inc. has a 12 month low of $10.94 and a 12 month high of $17.26. The business’s 50-day moving average price is $15.81 and its 200-day moving average price is $14.12.

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

About DNOW

DNOW Inc (NYSE: DNOW) is a global distributor of products and services used in the energy and industrial sectors. The company supplies equipment and materials for upstream, midstream and downstream oil and gas operations, as well as related industrial, utility and infrastructure markets.

Its offerings include pipe, valves, fittings, flanges, and other mechanical products; production and artificial-lift equipment; electrical and instrumentation products; and maintenance, repair and operating supplies.