DNOW Inc. $DNOW Stock Bought by Penn Capital Management Company LLC

Penn Capital Management Company LLC grew its stake in DNOW Inc. (NYSE:DNOW) by 38.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 926,310 shares of the oil and gas company’s stock after buying an additional 256,557 shares during the period. Penn Capital Management Company LLC’s holdings in DNOW were worth $14,385,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DNOW. BlackRock Inc. acquired a new stake in DNOW during the 2nd quarter valued at approximately $374,942,000. Wellington Management Group LLP raised its holdings in DNOW by 15.6% during the 2nd quarter. Wellington Management Group LLP now owns 19,513,068 shares of the oil and gas company’s stock worth $253,084,000 after purchasing an additional 2,633,894 shares during the last quarter. Engine Capital Management LP acquired a new position in shares of DNOW in the 1st quarter worth approximately $61,525,000. First Trust Advisors LP lifted its position in shares of DNOW by 2,335.0% in the 1st quarter. First Trust Advisors LP now owns 4,065,728 shares of the oil and gas company’s stock worth $48,423,000 after purchasing an additional 3,898,758 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of DNOW in the 2nd quarter worth approximately $42,540,000. 97.63% of the stock is currently owned by institutional investors.

DNOW Price Performance

DNOW stock opened at $13.96 on Tuesday. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of -12.04 and a beta of 0.95. DNOW Inc. has a 52-week low of $10.94 and a 52-week high of $17.26. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 2.14. The stock’s 50 day moving average price is $15.66 and its two-hundred day moving average price is $14.11.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Thursday, November 5th. The oil and gas company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.03. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.35 billion. DNOW had a negative net margin of 4.58% and a positive return on equity of 3.91%. DNOW’s revenue for the quarter was up 110.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS. On average, equities analysts predict that DNOW Inc. will post 0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DNOW. Wall Street Zen raised shares of DNOW from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Susquehanna lowered their target price on shares of DNOW from $19.00 to $18.00 and set a “positive” rating for the company in a research note on Friday. DA Davidson boosted their target price on shares of DNOW from $17.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 10th. Weiss Ratings upgraded shares of DNOW from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Finally, Freedom Broker raised shares of DNOW from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, DNOW has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

DNOW Profile

DNOW Inc (NYSE: DNOW) distributes products and provides supply-chain and related services to energy and industrial customers. Its offerings include pipe, valves, fittings, flanges, instrumentation, electrical products, and safety and maintenance supplies.

The company supports customers across the energy value chain, including upstream, midstream, and downstream operations, as well as other industrial markets. Its services include procurement, inventory management, logistics, and technical support, with operations serving customers in North America and international markets.

DNOW was established in 2014 as a spin-off from National Oilwell Varco.