UBS Group AG Has $8.44 Million Stake in DNOW Inc. $DNOW

UBS Group AG grew its holdings in DNOW Inc. (NYSE:DNOW) by 91.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 637,158 shares of the oil and gas company’s stock after buying an additional 304,752 shares during the period. UBS Group AG owned 0.61% of DNOW worth $8,442,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. bought a new position in shares of DNOW during the fourth quarter worth approximately $25,000. EverSource Wealth Advisors LLC increased its stake in shares of DNOW by 190.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 1,589 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of DNOW by 2,101.7% during the third quarter. Parkside Financial Bank & Trust now owns 2,620 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 2,501 shares during the period. Investors Research Corp increased 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 purchasing an additional 1,138 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of DNOW during the third quarter worth approximately $44,000. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Stock Performance

NYSE:DNOW opened at $13.15 on Monday. The stock has a fifty day moving average price of $12.25 and a 200-day moving average price of $13.42. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -18.01 and a beta of 0.85. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 2.42. DNOW Inc. has a fifty-two week low of $10.94 and a fifty-two 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). DNOW had a negative net margin of 4.14% and a positive return on equity of 4.94%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company posted $0.22 earnings per share. The business’s revenue was up 97.5% compared to the same quarter last year. As a group, equities analysts anticipate that DNOW Inc. will post 0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DNOW shares. Stifel Nicolaus lowered their price target on shares of DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Weiss Ratings lowered shares of DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, February 27th. Wall Street Zen lowered shares of DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Zacks Research lowered shares of DNOW from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 24th. Two research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, DNOW currently has an average rating of “Hold” and an average target price of $17.00.

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.