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

Royce & Associates LP increased its stake in shares of DNOW Inc. (NYSE:DNOW) by 15.7% during the third quarter, HoldingsChannel.com reports. The fund owned 669,709 shares of the oil and gas company’s stock after purchasing an additional 90,695 shares during the period. Royce & Associates LP’s holdings in DNOW were worth $10,213,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DNOW. Royal Bank of Canada boosted its position in DNOW by 28.2% during the first quarter. Royal Bank of Canada now owns 35,783 shares of the oil and gas company’s stock worth $611,000 after purchasing an additional 7,867 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of DNOW by 53.4% during the 1st 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 buying an additional 124,797 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of DNOW by 3.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 91,399 shares of the oil and gas company’s stock worth $1,355,000 after buying an additional 2,821 shares during the period. Prospera Financial Services Inc grew its stake in DNOW by 33.9% in the 2nd quarter. Prospera Financial Services Inc now owns 23,780 shares of the oil and gas company’s stock valued at $353,000 after buying an additional 6,015 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in DNOW in the 2nd quarter worth $162,000. 97.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DNOW has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of DNOW from a “strong-buy” rating to a “buy” rating in a report on Saturday. Susquehanna upgraded DNOW from a “neutral” rating to a “positive” rating and set a $16.00 target price for the company in a research note on Friday, November 21st. Zacks Research downgraded DNOW from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 23rd. KeyCorp set a $19.00 price target on DNOW in a report on Thursday, December 18th. Finally, Weiss Ratings downgraded shares of DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.00.

DNOW Trading Up 2.4%

Shares of DNOW opened at $12.35 on Wednesday. The stock’s 50-day moving average price is $14.33 and its 200 day moving average price is $14.49. The company has a quick ratio of 1.11, a current ratio of 2.34 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -42.59 and a beta of 0.79. DNOW Inc. has a 12-month low of $11.34 and a 12-month high of $17.48.

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