991,490 Shares in DNOW Inc. $DNOW Bought by William Blair Investment Management LLC

William Blair Investment Management LLC acquired a new stake in DNOW Inc. (NYSE:DNOW) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 991,490 shares of the oil and gas company’s stock, valued at approximately $12,860,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in shares of DNOW by 28.2% during the 1st quarter. Royal Bank of Canada now owns 35,783 shares of the oil and gas company’s stock worth $611,000 after buying an additional 7,867 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in DNOW by 53.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,708 shares of the oil and gas company’s stock worth $6,127,000 after purchasing an additional 124,797 shares during the period. Norges Bank bought a new position in shares of DNOW during the 2nd quarter worth about $1,192,000. Quantbot Technologies LP bought a new position in shares of DNOW during the 2nd quarter worth about $283,000. Finally, Invesco Ltd. grew its stake in shares of DNOW by 31.1% in the 2nd quarter. Invesco Ltd. now owns 792,481 shares of the oil and gas company’s stock valued at $11,752,000 after buying an additional 187,878 shares during the period. 97.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

DNOW Stock Up 1.0%

Shares of NYSE DNOW opened at $15.69 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.14 and a quick ratio of 1.06. The company has a 50-day moving average price of $14.16 and a 200-day moving average price of $13.45. The stock has a market capitalization of $2.84 billion, a P/E ratio of -14.66 and a beta of 0.82. DNOW Inc. has a 1 year low of $10.94 and a 1 year high of $17.26.

DNOW (NYSE:DNOW) last posted its earnings results on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. DNOW had a negative net margin of 4.58% and a positive return on equity of 3.91%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the business posted $0.27 EPS. The firm’s revenue was up 108.1% compared to the same quarter last year. On average, equities research analysts forecast that DNOW Inc. will post 0.34 EPS 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.