Empowered Funds LLC Sells 83,870 Shares of DNOW Inc. $DNOW

Empowered Funds LLC cut its stake in shares of DNOW Inc. (NYSE:DNOW) by 8.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 894,185 shares of the oil and gas company’s stock after selling 83,870 shares during the period. Empowered Funds LLC’s holdings in DNOW were worth $10,650,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in DNOW. Blue Trust Inc. bought a new position in shares of DNOW during the fourth quarter worth approximately $25,000. Quarry LP boosted its stake in DNOW by 712.6% in the 4th quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 1,703 shares during the period. Clearstead Advisors LLC boosted its stake in DNOW by 132.5% in 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 during the period. EverSource Wealth Advisors LLC grew its holdings in DNOW by 190.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 1,589 shares in the last quarter. Finally, Arax Advisory Partners grew its holdings in 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 buying an additional 2,156 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

DNOW Trading Up 3.0%

Shares of DNOW stock opened at $13.75 on Friday. The stock has a market cap of $2.51 billion, a P/E ratio of -18.83 and a beta of 0.83. DNOW Inc. has a 1 year low of $10.94 and a 1 year high of $17.26. 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 stock has a 50 day simple moving average of $13.42 and a 200 day simple moving average of $13.30.

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). The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.08 billion. DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.DNOW’s revenue was up 97.5% on a year-over-year basis. During the same quarter last year, the business earned $0.22 EPS. On average, research analysts predict that DNOW Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

About DNOW

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.