Sciencast Management LP Takes Position in DNOW Inc. $DNOW

Sciencast Management LP bought a new stake in shares of DNOW Inc. (NYSE:DNOW) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,259 shares of the oil and gas company’s stock, valued at approximately $209,000.

Several other large investors have also recently made changes to their positions in DNOW. Northern Trust Corp lifted its holdings in shares of DNOW by 8.7% during the fourth quarter. Northern Trust Corp now owns 1,225,767 shares of the oil and gas company’s stock valued at $15,947,000 after purchasing an additional 98,437 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of DNOW during the fourth quarter valued at approximately $270,000. Jane Street Group LLC lifted its holdings in shares of DNOW by 428.4% during the fourth quarter. Jane Street Group LLC now owns 237,755 shares of the oil and gas company’s stock valued at $3,093,000 after purchasing an additional 192,757 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of DNOW by 307.2% during the fourth quarter. BNP Paribas Financial Markets now owns 94,821 shares of the oil and gas company’s stock valued at $1,234,000 after purchasing an additional 71,535 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of DNOW by 18.8% during the fourth quarter. Deutsche Bank AG now owns 183,020 shares of the oil and gas company’s stock valued at $2,381,000 after purchasing an additional 28,937 shares during the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

DNOW Trading Down 2.9%

DNOW stock opened at $15.32 on Wednesday. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 20.15 and a beta of 1.21. The stock has a fifty day simple moving average of $15.02 and a two-hundred day simple moving average of $15.27. DNOW Inc. has a 12 month low of $11.42 and a 12 month high of $18.45.

DNOW (NYSE:DNOW) last posted its earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. DNOW had a net margin of 3.45% and a return on equity of 8.97%. The business had revenue of $628.00 million during the quarter, compared to the consensus estimate of $612.60 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The firm’s revenue was down .8% on a year-over-year basis. On average, equities research analysts forecast that DNOW Inc. will post 0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Zacks Research upgraded shares of DNOW to a “strong-buy” rating in a report on Friday, August 8th. Stifel Nicolaus cut their target price on DNOW from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $18.00.

DNOW Company Profile

DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as artificial lift systems, coatings, and miscellaneous expendable items.