William Blair Investment Management LLC Invests $12.86 Million in DNOW Inc. $DNOW

William Blair Investment Management LLC bought a new stake in DNOW Inc. (NYSE:DNOW) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 991,490 shares of the oil and gas company’s stock, valued at approximately $12,860,000. William Blair Investment Management LLC owned approximately 0.55% of DNOW as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. Quarry LP raised 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 buying an additional 1,703 shares during the period. EverSource Wealth Advisors LLC boosted its position in DNOW by 190.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 1,589 shares during the last quarter. Clearstead Advisors LLC boosted its holdings 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 worth $32,000 after purchasing an additional 1,383 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in shares of DNOW by 8,060.0% during the 1st quarter. Sunbelt Securities Inc. now owns 2,448 shares of the oil and gas company’s stock worth $29,000 after buying an additional 2,418 shares during the last quarter. Finally, Arax Advisory Partners grew its stake in DNOW by 336.3% in 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 and hedge funds own 97.63% of the company’s stock.

DNOW Stock Performance

NYSE DNOW opened at $15.69 on Friday. DNOW Inc. has a fifty-two week low of $10.94 and a fifty-two week high of $17.26. The firm’s fifty day moving average price is $14.16 and its two-hundred day moving average price is $13.45. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 2.14. The stock has a market cap of $2.84 billion, a PE ratio of -14.66 and a beta of 0.82.

DNOW (NYSE:DNOW) last posted its earnings results on Thursday, August 6th. The oil and gas company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.27 billion. DNOW had a positive return on equity of 3.91% and a negative net margin of 4.58%.The business’s quarterly revenue was up 108.1% on a year-over-year basis. During the same period last year, the company earned $0.27 earnings per share. On average, equities analysts expect that DNOW Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on DNOW shares. Freedom Capital raised shares of DNOW to a “strong-buy” rating in a research report on Monday, June 22nd. Wall Street Zen raised DNOW from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings restated a “sell (d+)” rating on shares of DNOW in a research report on Wednesday, May 27th. DA Davidson raised their price target on DNOW from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Susquehanna raised their price target on DNOW from $16.00 to $19.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.25.

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.