Lazard Asset Management LLC Purchases 35,946 Shares of DNOW Inc. $DNOW

Lazard Asset Management LLC raised its position in DNOW Inc. (NYSE:DNOW) by 18.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,376 shares of the oil and gas company’s stock after purchasing an additional 35,946 shares during the quarter. Lazard Asset Management LLC owned 0.12% of DNOW worth $2,696,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of DNOW. Blue Trust Inc. acquired a new stake in DNOW in the 4th quarter valued at approximately $25,000. Quarry LP lifted its stake in DNOW by 712.6% in the 4th quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 1,703 shares in the last quarter. Clearstead Advisors LLC boosted its position 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 acquiring an additional 1,383 shares during the last quarter. 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. Finally, Arax Advisory Partners grew its stake in shares of DNOW by 336.3% during the 4th quarter. Arax Advisory Partners now owns 2,797 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 2,156 shares in the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DNOW has been the topic of a number of recent research reports. Freedom Capital upgraded shares of DNOW to a “strong-buy” rating in a report on Monday, June 22nd. Zacks Research raised shares of DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. DA Davidson started coverage on shares of DNOW in a research note on Tuesday, June 16th. They issued a “buy” rating and a $17.00 price target on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. 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 analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, DNOW currently has an average rating of “Moderate Buy” and an average target price of $17.00.

DNOW Stock Up 2.9%

NYSE:DNOW opened at $14.14 on Friday. DNOW Inc. has a twelve month low of $10.94 and a twelve month high of $17.26. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -19.38 and a beta of 0.83. 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 stock’s 50 day moving average price is $13.44 and its two-hundred day moving average price is $13.30.

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

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.