Bailard Inc. Makes New $1.82 Million Investment in DNOW Inc. $DNOW

Bailard Inc. acquired a new stake in DNOW Inc. (NYSE:DNOW) in the 4th quarter, HoldingsChannel reports. The fund acquired 137,341 shares of the oil and gas company’s stock, valued at approximately $1,820,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hillsdale Investment Management Inc. increased its stake in DNOW by 134.8% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 439,700 shares of the oil and gas company’s stock valued at $6,705,000 after buying an additional 252,400 shares during the period. New York State Common Retirement Fund increased its stake in DNOW by 25.3% in the 3rd quarter. New York State Common Retirement Fund now owns 864,495 shares of the oil and gas company’s stock valued at $13,184,000 after buying an additional 174,544 shares during the period. Y Intercept Hong Kong Ltd increased its stake in DNOW by 58.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 234,617 shares of the oil and gas company’s stock valued at $3,578,000 after buying an additional 86,509 shares during the period. Allianz Asset Management GmbH increased its stake in DNOW by 15.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,404,668 shares of the oil and gas company’s stock valued at $21,421,000 after buying an additional 185,727 shares during the period. Finally, Picton Mahoney Asset Management increased its stake in DNOW by 116,545.3% in the 3rd quarter. Picton Mahoney Asset Management now owns 110,813 shares of the oil and gas company’s stock valued at $1,689,000 after buying an additional 110,718 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Stock Performance

NYSE:DNOW opened at $13.15 on Thursday. The company has a quick ratio of 1.14, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. DNOW Inc. has a fifty-two week low of $10.94 and a fifty-two week high of $17.26. The stock has a market cap of $2.40 billion, a PE ratio of -18.01 and a beta of 0.85. The firm’s fifty day simple moving average is $12.22 and its 200-day simple moving average is $13.44.

DNOW (NYSE:DNOW) last released its quarterly earnings data 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 positive return on equity of 4.94% and a negative net margin of 4.14%.The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the firm earned $0.22 earnings per share. DNOW’s quarterly revenue was up 97.5% on a year-over-year basis. Analysts expect that DNOW Inc. will post 0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on DNOW shares. Stifel Nicolaus dropped their price objective on shares of DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Weiss Ratings cut shares of DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. Wall Street Zen cut shares of DNOW from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Zacks Research cut shares of DNOW from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 24th. Two research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $17.00.

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.