Heartland Advisors Inc. Purchases New Position in DNOW Inc. $DNOW

Heartland Advisors Inc. purchased a new stake in DNOW Inc. (NYSE:DNOW) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 600,000 shares of the oil and gas company’s stock, valued at approximately $7,782,000.

Several other large investors have also recently added to or reduced their stakes in DNOW. TrinityBridge Ltd acquired a new stake in shares of DNOW during the second quarter worth approximately $54,000. Tejara Capital Ltd acquired a new position in shares of DNOW in the 2nd quarter worth approximately $9,382,000. Pzena Investment Management LLC bought a new stake in DNOW during the 2nd quarter worth approximately $37,528,000. BlackRock Inc. bought a new stake in DNOW during the 2nd quarter worth approximately $374,942,000. Finally, Deutsche Bank AG bought a new stake in DNOW during the 2nd quarter worth approximately $2,985,000. 97.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on DNOW shares. Zacks Research upgraded DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. Wall Street Zen upgraded DNOW from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. DA Davidson lifted their price target on DNOW from $17.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, Freedom Capital upgraded shares of DNOW to a “strong-buy” rating in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, DNOW presently has a consensus rating of “Moderate Buy” and an average price target of $18.25.

DNOW Stock Performance

Shares of DNOW stock opened at $15.69 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.14 and a quick ratio of 1.06. The firm has a 50 day simple moving average of $14.16 and a 200 day simple moving average of $13.45. DNOW Inc. has a fifty-two week low of $10.94 and a fifty-two week high of $17.26. The firm has a market cap of $2.84 billion, a P/E ratio of -14.66 and a beta of 0.82.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, August 6th. The oil and gas company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.27 billion. DNOW had a positive return on equity of 3.91% and a negative net margin of 4.58%.The business’s quarterly revenue was up 108.1% compared to the same quarter last year. During the same period last year, the company earned $0.27 EPS. Sell-side analysts predict that DNOW Inc. will post 0.34 earnings per share for the current fiscal year.

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.