Heartland Advisors Inc. Acquires 100,000 Shares of DNOW Inc. $DNOW

Heartland Advisors Inc. boosted its stake in shares of DNOW Inc. (NYSE:DNOW) by 22.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 550,000 shares of the oil and gas company’s stock after buying an additional 100,000 shares during the period. Heartland Advisors Inc.’s holdings in DNOW were worth $6,550,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. purchased a new position in shares of DNOW in the 4th quarter valued at $25,000. Quarry LP lifted its stake in shares of 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 during the last quarter. Clearstead Advisors LLC boosted its position in DNOW by 132.5% during the fourth quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,383 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in DNOW by 190.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 1,589 shares in the last quarter. Finally, Arax Advisory Partners boosted its position in DNOW by 336.3% during the fourth quarter. Arax Advisory Partners now owns 2,797 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 2,156 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

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

DNOW Trading Up 0.1%

Shares of NYSE:DNOW opened at $13.95 on Monday. The business’s 50-day moving average is $13.25 and its 200 day moving average is $13.26. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.14. DNOW Inc. has a 1 year low of $10.94 and a 1 year high of $17.26. The firm has a market capitalization of $2.55 billion, a P/E ratio of -19.11 and a beta of 0.83.

DNOW (NYSE:DNOW) last issued 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). 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 analyst estimates of $1.08 billion. During the same period in the prior year, the business posted $0.22 EPS. DNOW’s revenue was up 97.5% compared to the same quarter last year. On average, research analysts predict 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.