Skylands Capital LLC Acquires 42,017 Shares of DNOW Inc. $DNOW

Skylands Capital LLC grew its stake in shares of DNOW Inc. (NYSE:DNOW) by 84.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,650 shares of the oil and gas company’s stock after acquiring an additional 42,017 shares during the period. Skylands Capital LLC’s holdings in DNOW were worth $1,092,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. purchased a new position in shares of DNOW in the fourth quarter valued at $25,000. Quarry LP lifted its holdings in DNOW by 712.6% during the 4th quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 1,703 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in DNOW by 132.5% during the 4th quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 1,383 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake 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 worth $36,000 after purchasing an additional 1,589 shares during the period. Finally, Arax Advisory Partners boosted its stake in 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 purchasing an additional 2,156 shares during the period. 97.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Zacks Research upgraded DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of DNOW in a research report on Wednesday, May 27th. Wall Street Zen cut shares of DNOW from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Freedom Capital raised shares of DNOW to a “strong-buy” rating in a report on Monday, June 22nd. Finally, DA Davidson started coverage on shares of DNOW in a report on Tuesday, June 16th. They set a “buy” rating and a $17.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

DNOW Price Performance

DNOW stock opened at $13.53 on Friday. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of -18.54 and a beta of 0.82. The company has a quick ratio of 1.14, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. The business has a 50-day simple moving average of $13.15 and a 200 day simple moving average of $13.35. DNOW Inc. has a 52 week low of $10.94 and a 52 week high of $17.26.

DNOW (NYSE:DNOW) last released its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.08 billion. DNOW had a negative net margin of 4.14% and a positive return on equity of 4.94%. The business’s revenue was up 97.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 EPS. On average, research analysts forecast that DNOW Inc. will post 0.31 earnings per share 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.