Pzena Investment Management LLC Has $36.87 Million Holdings in DNOW Inc. $DNOW

Pzena Investment Management LLC decreased its stake in shares of DNOW Inc. (NYSE:DNOW) by 25.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,095,315 shares of the oil and gas company’s stock after selling 1,065,814 shares during the quarter. Pzena Investment Management LLC’s holdings in DNOW were worth $36,865,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Blue Trust Inc. bought a new stake in shares of DNOW in the fourth quarter valued at about $25,000. Quarry LP increased its stake in DNOW by 712.6% during the fourth quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 1,703 shares during the period. Clearstead Advisors LLC raised its holdings in DNOW by 132.5% in the 4th quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 1,383 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in DNOW by 190.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 1,589 shares in the last quarter. Finally, Arax Advisory Partners lifted its position in shares of DNOW by 336.3% in the 4th quarter. Arax Advisory Partners now owns 2,797 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 2,156 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 analysts have recently issued reports on the company. Wall Street Zen cut DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. DA Davidson initiated coverage on DNOW in a research report on Tuesday, June 16th. They issued a “buy” rating and a $17.00 target price for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. Freedom Capital raised shares of DNOW to a “strong-buy” rating in a report on Monday, June 22nd. Finally, Zacks Research upgraded shares of DNOW from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. One 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 given a Sell rating to the company. Based on data from MarketBeat, DNOW has a consensus rating of “Moderate Buy” and an average price target of $17.00.

DNOW Price Performance

DNOW stock opened at $12.85 on Thursday. The business has a 50 day simple moving average of $13.21 and a 200 day simple moving average of $13.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.14. The company has a market capitalization of $2.35 billion, a PE ratio of -17.60 and a beta of 0.83. DNOW Inc. has a one year low of $10.94 and a one year high of $17.26.

DNOW (NYSE:DNOW) last announced its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company earned $0.22 earnings per share. The business’s revenue was up 97.5% on a year-over-year basis. On average, sell-side analysts forecast 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.