Royce & Associates LP Has $10.21 Million Holdings in DNOW Inc. $DNOW

Royce & Associates LP raised its position in shares of DNOW Inc. (NYSE:DNOW) by 15.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 669,709 shares of the oil and gas company’s stock after buying an additional 90,695 shares during the quarter. Royce & Associates LP owned 0.64% of DNOW worth $10,213,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. lifted its position in shares of DNOW by 14.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,299 shares of the oil and gas company’s stock valued at $111,000 after acquiring an additional 937 shares in the last quarter. Amalgamated Bank raised its stake in DNOW by 3.4% during the 3rd quarter. Amalgamated Bank now owns 31,215 shares of the oil and gas company’s stock valued at $476,000 after purchasing an additional 1,040 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of DNOW by 1.7% in the third quarter. Sequoia Financial Advisors LLC now owns 82,817 shares of the oil and gas company’s stock valued at $1,263,000 after purchasing an additional 1,392 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of DNOW by 190.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock worth $36,000 after buying an additional 1,589 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in shares of DNOW by 7.0% during the second quarter. Quantinno Capital Management LP now owns 24,858 shares of the oil and gas company’s stock valued at $369,000 after buying an additional 1,634 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Trading Up 2.4%

Shares of NYSE DNOW opened at $12.35 on Wednesday. The business has a 50 day simple moving average of $14.33 and a 200 day simple moving average of $14.49. DNOW Inc. has a 52 week low of $11.34 and a 52 week high of $17.48. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -42.59 and a beta of 0.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.11 and a current ratio of 2.34.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Friday, February 20th. The oil and gas company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The firm had revenue of $959.00 million for the quarter, compared to analyst estimates of $969.50 million. DNOW had a negative net margin of 2.66% and a positive return on equity of 7.26%. The company’s revenue for the quarter was up 68.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. On average, research analysts predict that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DNOW. Weiss Ratings downgraded DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday. Stifel Nicolaus dropped their target price on DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Zacks Research cut shares of DNOW from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd. KeyCorp set a $19.00 price objective on shares of DNOW in a research report on Thursday, December 18th. Finally, Susquehanna upgraded shares of DNOW from a “neutral” rating to a “positive” rating and set a $16.00 target price for the company in a research report on Friday, November 21st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.00.

DNOW 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.