Sequent Asset Management LLC Takes Position in DNOW Inc. $DNOW

Sequent Asset Management LLC purchased a new position in shares of DNOW Inc. (NYSE:DNOW) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 75,226 shares of the oil and gas company’s stock, valued at approximately $997,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in DNOW by 66.1% in the 4th quarter. Vanguard Group Inc. now owns 19,498,204 shares of the oil and gas company’s stock worth $258,351,000 after purchasing an additional 7,762,071 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of DNOW by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 6,453,854 shares of the oil and gas company’s stock valued at $98,421,000 after buying an additional 42,878 shares during the last quarter. Boston Partners acquired a new position in shares of DNOW during the third quarter worth approximately $72,302,000. Geode Capital Management LLC grew its holdings in DNOW by 71.4% in the 4th quarter. Geode Capital Management LLC now owns 4,429,530 shares of the oil and gas company’s stock worth $58,701,000 after buying an additional 1,844,779 shares in the last quarter. Finally, Pzena Investment Management LLC acquired a new stake in DNOW in the 4th quarter valued at approximately $55,135,000. 97.63% of the stock is currently owned by institutional investors.

DNOW Price Performance

NYSE DNOW opened at $13.31 on Wednesday. DNOW Inc. has a 12 month low of $10.94 and a 12 month high of $17.26. The firm has a market capitalization of $2.43 billion, a PE ratio of -18.23 and a beta of 0.82. The company’s 50 day simple moving average is $12.59 and its 200 day simple moving average is $13.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.14.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the business posted $0.22 earnings per share. The business’s revenue for the quarter was up 97.5% compared to the same quarter last year. As a group, equities research analysts forecast that DNOW Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on DNOW shares. Stifel Nicolaus cut their target price on DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Wall Street Zen lowered DNOW from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings restated a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. Finally, Zacks Research raised shares of DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.00.

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.