54,562 Shares in DNOW Inc. $DNOW Acquired by Commerce Bank

Commerce Bank acquired a new position in shares of DNOW Inc. (NYSE:DNOW) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 54,562 shares of the oil and gas company’s stock, valued at approximately $708,000.

Other institutional investors also recently modified their holdings of the company. Covestor Ltd grew its holdings in shares of DNOW by 15.7% during the 4th quarter. Covestor Ltd now owns 4,614 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 626 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of DNOW by 1.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 45,540 shares of the oil and gas company’s stock worth $603,000 after buying an additional 860 shares during the period. Summit Global Investments lifted its stake in DNOW by 5.4% in the fourth quarter. Summit Global Investments now owns 16,991 shares of the oil and gas company’s stock valued at $225,000 after buying an additional 865 shares during the period. PNC Financial Services Group Inc. grew its holdings in DNOW by 12.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,191 shares of the oil and gas company’s stock worth $109,000 after purchasing an additional 892 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in DNOW by 50.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,629 shares of the oil and gas company’s stock valued at $48,000 after acquiring an additional 1,216 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Trading Up 1.3%

DNOW stock opened at $15.97 on Thursday. The business’s fifty day moving average is $14.29 and its 200 day moving average is $13.43. 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 stock has a market capitalization of $2.89 billion, a PE ratio of -14.93 and a beta of 0.82. DNOW Inc. has a one year low of $10.94 and a one year high of $17.26.

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

Analyst Upgrades and Downgrades

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

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.