Royce & Associates LP Grows Stake in DNOW Inc. $DNOW

Royce & Associates LP lifted its stake in shares of DNOW Inc. (NYSE:DNOW) by 111.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,415,057 shares of the oil and gas company’s stock after purchasing an additional 745,348 shares during the period. Royce & Associates LP’s holdings in DNOW were worth $18,750,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in DNOW by 66.1% in the 4th quarter. Vanguard Group Inc. now owns 19,498,204 shares of the oil and gas company’s stock valued at $258,351,000 after acquiring an additional 7,762,071 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in DNOW by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,453,854 shares of the oil and gas company’s stock valued at $98,421,000 after acquiring an additional 42,878 shares during the last quarter. Boston Partners acquired a new stake in DNOW in the 3rd quarter valued at about $72,302,000. Pzena Investment Management LLC acquired a new stake in DNOW in the 4th quarter valued at about $55,135,000. Finally, Wellington Management Group LLP raised its holdings in DNOW by 260.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,764,823 shares of the oil and gas company’s stock valued at $57,414,000 after acquiring an additional 2,719,594 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Stock Performance

DNOW stock opened at $13.24 on Wednesday. The firm has a 50 day simple moving average of $12.46 and a 200-day simple moving average of $13.34. DNOW Inc. has a 1-year low of $10.94 and a 1-year high of $17.26. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.14. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -18.14 and a beta of 0.85.

DNOW (NYSE:DNOW) last posted its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the company earned $0.22 EPS. The business’s quarterly revenue was up 97.5% on a year-over-year basis. On average, analysts expect that DNOW Inc. will post 0.31 EPS for the current year.

Analyst Upgrades and Downgrades

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