Sei Investments Co. Purchases 47,832 Shares of DNOW Inc. $DNOW

Sei Investments Co. increased its position in shares of DNOW Inc. (NYSE:DNOW) by 9.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 560,195 shares of the oil and gas company’s stock after purchasing an additional 47,832 shares during the period. Sei Investments Co. owned 0.31% of DNOW worth $6,672,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position 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 valued at $258,351,000 after acquiring an additional 7,762,071 shares in the last quarter. BOKF NA grew its position in shares of DNOW by 13,223.9% during the fourth quarter. BOKF NA now owns 393,456 shares of the oil and gas company’s stock worth $5,213,000 after purchasing an additional 390,503 shares in the last quarter. Caisse Des Depots ET Consignations bought a new stake in DNOW during the 4th quarter valued at approximately $596,000. Bailard Inc. purchased a new position in DNOW in the 4th quarter worth approximately $1,820,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in DNOW by 33.6% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 412,629 shares of the oil and gas company’s stock worth $5,467,000 after purchasing an additional 103,864 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Stock Up 0.9%

NYSE DNOW opened at $14.25 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. DNOW Inc. has a 52 week low of $10.94 and a 52 week high of $17.26. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of -19.52 and a beta of 0.82. The company has a fifty day moving average of $13.46 and a two-hundred day moving average of $13.31.

DNOW (NYSE:DNOW) last announced its 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). The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.08 billion. DNOW had a negative net margin of 4.14% and a positive return on equity of 4.94%. The company’s revenue was up 97.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 EPS. On average, analysts predict that DNOW Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

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