Sequent Asset Management LLC Takes $997,000 Position in DNOW Inc. $DNOW

Sequent Asset Management LLC purchased a new stake in shares of DNOW Inc. (NYSE:DNOW) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 75,226 shares of the oil and gas company’s stock, valued at approximately $997,000. Sequent Asset Management LLC owned approximately 0.07% of DNOW at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd boosted its position in DNOW by 15.7% in the 4th quarter. Covestor Ltd now owns 4,614 shares of the oil and gas company’s stock valued at $61,000 after buying an additional 626 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of DNOW by 1.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 45,540 shares of the oil and gas company’s stock worth $603,000 after acquiring an additional 860 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of DNOW by 12.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,191 shares of the oil and gas company’s stock worth $109,000 after acquiring an additional 892 shares in the last quarter. Investors Research Corp boosted its holdings in DNOW by 61.1% in the fourth quarter. Investors Research Corp now owns 3,001 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 1,138 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in DNOW by 50.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,629 shares of the oil and gas company’s stock valued at $48,000 after purchasing an additional 1,216 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded DNOW from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Stifel Nicolaus reduced their target price on DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Zacks Research raised shares of DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.00.

DNOW Price Performance

Shares of NYSE:DNOW opened at $13.31 on Wednesday. The company has a market cap of $2.43 billion, a PE ratio of -18.23 and a beta of 0.82. DNOW Inc. has a fifty-two week low of $10.94 and a fifty-two week high of $17.26. The firm has a 50-day simple moving average of $12.59 and a 200 day simple moving average of $13.33. 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 (NYSE:DNOW) last issued its earnings results on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.08 billion. DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.The business’s revenue was up 97.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 EPS. On average, sell-side analysts anticipate that DNOW Inc. will post 0.31 EPS for the current year.

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.