Verbena Value LP Has $39.28 Million Stake in DNOW Inc. $DNOW

Verbena Value LP decreased its stake in shares of DNOW Inc. (NYSE:DNOW) by 10.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,297,904 shares of the oil and gas company’s stock after selling 385,108 shares during the quarter. DNOW comprises about 6.4% of Verbena Value LP’s investment portfolio, making the stock its 8th biggest holding. Verbena Value LP’s holdings in DNOW were worth $39,278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Covestor Ltd grew its stake in shares of DNOW by 15.7% in the fourth quarter. Covestor Ltd now owns 4,614 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 626 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of DNOW by 1.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 45,540 shares of the oil and gas company’s stock worth $603,000 after purchasing an additional 860 shares during the last quarter. Summit Global Investments boosted its stake in DNOW by 5.4% in the 4th quarter. Summit Global Investments now owns 16,991 shares of the oil and gas company’s stock worth $225,000 after purchasing an additional 865 shares in the last quarter. PNC Financial Services Group Inc. grew its position in DNOW by 12.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,191 shares of the oil and gas company’s stock valued at $109,000 after purchasing an additional 892 shares during the last quarter. Finally, Investors Research Corp increased its stake in DNOW by 61.1% during the 4th quarter. Investors Research Corp now owns 3,001 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 1,138 shares in the last quarter. 97.63% of the stock is owned by institutional investors.

DNOW Price Performance

Shares of NYSE:DNOW opened at $13.05 on Monday. The firm’s 50 day moving average price is $13.24 and its 200-day moving average price is $13.27. DNOW Inc. has a twelve month low of $10.94 and a twelve month high of $17.26. The company has a quick ratio of 1.14, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.38 billion, a PE ratio of -17.88 and a beta of 0.83.

DNOW (NYSE:DNOW) last announced its 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). The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.08 billion. DNOW had a negative net margin of 4.14% and a positive return on equity of 4.94%. The business’s quarterly revenue was up 97.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 earnings per share. Equities research analysts expect that DNOW Inc. will post 0.31 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Zacks Research raised shares of DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Wall Street Zen cut shares of DNOW from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. DA Davidson began coverage on shares of DNOW in a research report on Tuesday, June 16th. They set a “buy” rating and a $17.00 price target for the company. Freedom Capital upgraded shares of DNOW to a “strong-buy” rating in a report on Monday, June 22nd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DNOW in a research report on Wednesday, May 27th. One investment 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.