Nordea Investment Management AB Has $3.87 Million Holdings in DNOW Inc. $DNOW

Nordea Investment Management AB lessened its holdings in DNOW Inc. (NYSE:DNOW) by 15.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 292,719 shares of the oil and gas company’s stock after selling 53,816 shares during the quarter. Nordea Investment Management AB owned approximately 0.28% of DNOW worth $3,870,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Central Pacific Bank Trust Division boosted its stake in DNOW by 18.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 27,882 shares of the oil and gas company’s stock valued at $369,000 after acquiring an additional 4,406 shares during the last quarter. Investors Research Corp raised its position in shares of DNOW by 61.1% during the 4th quarter. Investors Research Corp now owns 3,001 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 1,138 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of DNOW by 121.1% in the 4th quarter. GAMMA Investing LLC now owns 3,360 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 1,840 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of DNOW by 5.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,420,279 shares of the oil and gas company’s stock valued at $21,659,000 after purchasing an additional 77,186 shares during the period. Finally, Cambria Investment Management L.P. boosted its position in shares of DNOW by 25.0% in the 3rd quarter. Cambria Investment Management L.P. now owns 33,154 shares of the oil and gas company’s stock worth $506,000 after purchasing an additional 6,624 shares during the last quarter. 97.63% of the stock is owned by institutional investors.

DNOW Trading Up 1.7%

NYSE DNOW opened at $12.23 on Friday. DNOW Inc. has a one year low of $10.94 and a one year high of $17.48. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.34 and a quick ratio of 1.11. The firm has a market cap of $2.28 billion, a P/E ratio of -42.17 and a beta of 0.79. The stock’s 50-day moving average is $13.64 and its 200-day moving average is $14.02.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Friday, February 20th. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. The business had revenue of $959.00 million during 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 quarterly revenue was up 68.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. Sell-side analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DNOW has been the subject of a number of analyst reports. KeyCorp set a $19.00 price objective on DNOW in a research note on Thursday, December 18th. Zacks Research cut DNOW from a “hold” rating to a “strong sell” rating in a report on Tuesday. Weiss Ratings lowered DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, February 27th. Wall Street Zen cut DNOW from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Stifel Nicolaus cut their price target 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. Two investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, DNOW currently has a consensus rating of “Hold” and an average 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.