DNOW Inc. $DNOW Shares Bought by Picton Mahoney Asset Management

Picton Mahoney Asset Management raised its stake in DNOW Inc. (NYSE:DNOW) by 116,545.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,813 shares of the oil and gas company’s stock after buying an additional 110,718 shares during the period. Picton Mahoney Asset Management’s holdings in DNOW were worth $1,689,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DNOW. First Trust Advisors LP grew its holdings in shares of DNOW by 470.7% in the 2nd quarter. First Trust Advisors LP now owns 1,952,023 shares of the oil and gas company’s stock worth $28,949,000 after acquiring an additional 1,609,981 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in DNOW by 57.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,797,651 shares of the oil and gas company’s stock valued at $26,659,000 after purchasing an additional 654,490 shares during the last quarter. LSV Asset Management increased its position in shares of DNOW by 354.6% in the second quarter. LSV Asset Management now owns 798,300 shares of the oil and gas company’s stock valued at $11,839,000 after buying an additional 622,705 shares in the last quarter. American Century Companies Inc. raised its stake in shares of DNOW by 19.3% during the 2nd quarter. American Century Companies Inc. now owns 2,389,433 shares of the oil and gas company’s stock worth $35,435,000 after buying an additional 386,383 shares during the last quarter. Finally, CSM Advisors LLC purchased a new stake in shares of DNOW in the 2nd quarter worth about $4,771,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Stock Down 2.9%

Shares of NYSE DNOW opened at $12.08 on Friday. The firm has a market cap of $1.27 billion, a P/E ratio of -41.66 and a beta of 0.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.11 and a current ratio of 2.34. DNOW Inc. has a 1 year low of $11.34 and a 1 year high of $17.48. The firm’s 50 day moving average price is $14.26 and its 200 day moving average price is $14.46.

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

Analyst Ratings Changes

DNOW has been the subject of several recent research reports. Stifel Nicolaus dropped their target price on shares of DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Weiss Ratings cut shares of DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. Zacks Research lowered DNOW from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. Wall Street Zen cut DNOW from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Susquehanna raised DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price target for the company in a report on Friday, November 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.