Pacer Advisors Inc. Sells 130,271 Shares of DNOW Inc. $DNOW

Pacer Advisors Inc. trimmed its holdings in DNOW Inc. (NYSE:DNOW) by 21.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 485,205 shares of the oil and gas company’s stock after selling 130,271 shares during the quarter. Pacer Advisors Inc.’s holdings in DNOW were worth $6,429,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DNOW. Hillsdale Investment Management Inc. raised its position in DNOW by 134.8% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 439,700 shares of the oil and gas company’s stock worth $6,705,000 after purchasing an additional 252,400 shares during the last quarter. Picton Mahoney Asset Management boosted its position in DNOW by 116,545.3% in the 3rd quarter. Picton Mahoney Asset Management now owns 110,813 shares of the oil and gas company’s stock valued at $1,689,000 after buying an additional 110,718 shares during the last quarter. Penn Capital Management Company LLC boosted its position in DNOW by 15.5% in the 3rd quarter. Penn Capital Management Company LLC now owns 1,196,075 shares of the oil and gas company’s stock valued at $18,283,000 after buying an additional 160,560 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of DNOW by 120.3% in the 3rd quarter. Intech Investment Management LLC now owns 92,156 shares of the oil and gas company’s stock valued at $1,405,000 after buying an additional 50,329 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of 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 valued at $258,351,000 after buying an additional 7,762,071 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Stock Performance

Shares of DNOW stock opened at $13.51 on Monday. The firm has a fifty day moving average of $13.02 and a two-hundred day moving average of $13.37. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 2.42. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -18.50 and a beta of 0.82. DNOW Inc. has a 52 week low of $10.94 and a 52 week high of $17.26.

DNOW (NYSE:DNOW) last posted its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the business earned $0.22 earnings per share. The firm’s revenue for the quarter was up 97.5% on a year-over-year basis. As a group, equities research analysts predict that DNOW Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DNOW. Zacks Research upgraded DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of DNOW in a research report on Wednesday, May 27th. DA Davidson initiated coverage on DNOW in a report on Tuesday, June 16th. They set a “buy” rating and a $17.00 price objective for the company. Stifel Nicolaus cut their target price on shares of DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Finally, Wall Street Zen cut shares of DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $17.00.

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.