Verbena Value LP Cuts Stock Holdings in DNOW Inc. $DNOW

Verbena Value LP lessened its holdings in shares of DNOW Inc. (NYSE:DNOW) by 10.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,297,904 shares of the oil and gas company’s stock after selling 385,108 shares during the period. DNOW comprises approximately 6.4% of Verbena Value LP’s holdings, making the stock its 8th largest holding. Verbena Value LP owned about 1.77% of DNOW worth $39,278,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Penn Capital Management Company LLC raised its holdings in shares of DNOW by 15.5% during the third quarter. Penn Capital Management Company LLC now owns 1,196,075 shares of the oil and gas company’s stock valued at $18,283,000 after acquiring an additional 160,560 shares in the last quarter. Vanguard Group Inc. lifted its stake in DNOW by 66.1% in the fourth quarter. Vanguard Group Inc. now owns 19,498,204 shares of the oil and gas company’s stock worth $258,351,000 after acquiring an additional 7,762,071 shares during the period. Pullen Investment Management LLC bought a new stake in DNOW in the fourth quarter valued at $2,177,000. BOKF NA boosted its holdings in DNOW by 13,223.9% in the fourth quarter. BOKF NA now owns 393,456 shares of the oil and gas company’s stock valued at $5,213,000 after acquiring an additional 390,503 shares in the last quarter. Finally, CSM Advisors LLC increased its position in DNOW by 13.7% during the 3rd quarter. CSM Advisors LLC now owns 365,777 shares of the oil and gas company’s stock valued at $5,577,000 after purchasing an additional 44,056 shares during the period. Institutional investors own 97.63% of the company’s stock.

Analyst Ratings Changes

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

DNOW Stock Performance

Shares of DNOW stock opened at $13.05 on Monday. DNOW Inc. has a 12 month low of $10.94 and a 12 month high of $17.26. The stock has a market cap of $2.38 billion, a PE ratio of -17.88 and a beta of 0.83. The company has a current ratio of 2.42, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27. The company’s fifty day moving average price is $13.24 and its 200-day moving average price is $13.27.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business earned $0.22 earnings per share. The firm’s revenue was up 97.5% compared to the same quarter last year. On average, equities analysts expect that DNOW Inc. will post 0.31 EPS 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.