DNOW Inc. $DNOW Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its holdings in shares of DNOW Inc. (NYSE:DNOW) by 45.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,072 shares of the oil and gas company’s stock after selling 46,029 shares during the period. Hsbc Holdings PLC owned about 0.05% of DNOW worth $742,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in DNOW. Vanguard Group Inc. grew its stake in shares of 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 in the last quarter. Wellington Management Group LLP increased its position in shares of DNOW by 187.2% during the fourth quarter. Wellington Management Group LLP now owns 10,813,205 shares of the oil and gas company’s stock worth $143,275,000 after acquiring an additional 7,048,382 shares during the period. Boston Partners acquired a new stake in shares of DNOW in the third quarter valued at $72,302,000. Pzena Investment Management LLC acquired a new stake in shares of DNOW in the fourth quarter valued at $55,135,000. Finally, Dimensional Fund Advisors LP boosted its holdings in DNOW by 60.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,374,585 shares of the oil and gas company’s stock valued at $137,466,000 after purchasing an additional 3,920,731 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Stock Performance

Shares of DNOW opened at $13.11 on Wednesday. The stock has a market capitalization of $2.39 billion, a P/E ratio of -17.95 and a beta of 0.83. 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 1 year low of $10.94 and a 1 year high of $17.26. The company’s fifty day moving average is $13.22 and its two-hundred day moving average is $13.26.

DNOW (NYSE:DNOW) last released its earnings results on Thursday, May 7th. The oil and gas company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.08 billion. DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.The firm’s revenue was up 97.5% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS. On average, sell-side analysts predict that DNOW Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen downgraded DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. DA Davidson started coverage on DNOW in a research report on Tuesday, June 16th. They set a “buy” rating and a $17.00 target price on the stock. 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 report on Friday, May 22nd. Finally, Freedom Capital raised shares of DNOW to a “strong-buy” rating in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, DNOW currently has an average rating of “Moderate Buy” and an average target price of $17.00.

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.