DNOW Inc. $DNOW Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its holdings in DNOW Inc. (NYSE:DNOW) by 45.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,072 shares of the oil and gas company’s stock after selling 46,029 shares during the quarter. Hsbc Holdings PLC’s holdings in DNOW were worth $742,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in 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 worth $258,351,000 after acquiring an additional 7,762,071 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of DNOW by 187.2% during the 4th quarter. Wellington Management Group LLP now owns 10,813,205 shares of the oil and gas company’s stock worth $143,275,000 after purchasing an additional 7,048,382 shares in the last quarter. Boston Partners purchased a new stake in shares of DNOW during the 3rd quarter worth $72,302,000. Pzena Investment Management LLC acquired a new position in shares of DNOW during the 4th quarter worth $55,135,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of DNOW by 60.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,374,585 shares of the oil and gas company’s stock worth $137,466,000 after purchasing an additional 3,920,731 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

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

DNOW Stock Performance

Shares of DNOW opened at $13.11 on Wednesday. The company has a current ratio of 2.42, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.39 billion, a P/E ratio of -17.95 and a beta of 0.83. The company has a 50-day moving average of $13.22 and a two-hundred day moving average of $13.26. DNOW Inc. has a 12-month low of $10.94 and a 12-month high of $17.26.

DNOW (NYSE:DNOW) last released its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.01 EPS 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 business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the company earned $0.22 earnings per share. The firm’s revenue for the quarter was up 97.5% compared to the same quarter last year. As a group, research analysts predict that DNOW Inc. will post 0.31 EPS for the current fiscal year.

DNOW Company 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.