Pzena Investment Management LLC Has $36.87 Million Stake in DNOW Inc. $DNOW

Pzena Investment Management LLC decreased its position in DNOW Inc. (NYSE:DNOW) by 25.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,095,315 shares of the oil and gas company’s stock after selling 1,065,814 shares during the quarter. Pzena Investment Management LLC owned about 1.66% of DNOW worth $36,865,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new stake in DNOW in the fourth quarter valued at approximately $25,000. Quarry LP increased its stake 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 purchasing an additional 1,703 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of DNOW by 190.5% during the 2nd 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 last quarter. Clearstead Advisors LLC raised its holdings in shares of DNOW by 132.5% during the 4th quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,383 shares in the last quarter. Finally, Arax Advisory Partners lifted its stake in shares of DNOW by 336.3% in the 4th quarter. Arax Advisory Partners now owns 2,797 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 2,156 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Zacks Research upgraded shares of DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Wall Street Zen cut DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. Freedom Capital raised DNOW to a “strong-buy” rating in a report on Monday, June 22nd. Finally, DA Davidson initiated coverage on DNOW in a research note on Tuesday, June 16th. They issued a “buy” rating and a $17.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, DNOW currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

DNOW Stock Down 1.0%

DNOW stock opened at $12.85 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.14. DNOW Inc. has a 52-week low of $10.94 and a 52-week high of $17.26. The company has a 50-day moving average of $13.21 and a two-hundred day moving average of $13.32. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -17.60 and a beta of 0.83.

DNOW (NYSE:DNOW) last posted its quarterly earnings data 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). DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm posted $0.22 earnings per share. The company’s revenue for the quarter was up 97.5% on a year-over-year basis. As a group, equities research analysts anticipate that DNOW Inc. will post 0.31 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.