Lazard Asset Management LLC Has $2.70 Million Stock Position in DNOW Inc. $DNOW

Lazard Asset Management LLC increased its holdings in shares of DNOW Inc. (NYSE:DNOW) by 18.9% in the first quarter, HoldingsChannel reports. The firm owned 226,376 shares of the oil and gas company’s stock after buying an additional 35,946 shares during the period. Lazard Asset Management LLC’s holdings in DNOW were worth $2,696,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Sei Investments Co. lifted its position in shares of DNOW by 9.3% in the first quarter. Sei Investments Co. now owns 560,195 shares of the oil and gas company’s stock valued at $6,672,000 after buying an additional 47,832 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of DNOW during the 1st quarter worth approximately $328,000. First Trust Advisors LP increased its holdings in shares of DNOW by 2,335.0% during the 1st quarter. First Trust Advisors LP now owns 4,065,728 shares of the oil and gas company’s stock worth $48,423,000 after acquiring an additional 3,898,758 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in DNOW by 136.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 19,331 shares of the oil and gas company’s stock valued at $230,000 after acquiring an additional 11,140 shares during the period. Finally, Cassaday & Co Wealth Management LLC bought a new stake in DNOW in the 1st quarter valued at $45,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Stock Performance

DNOW opened at $14.14 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.14. The business has a fifty day simple moving average of $13.44 and a 200 day simple moving average of $13.30. DNOW Inc. has a 1 year low of $10.94 and a 1 year high of $17.26. The company has a market capitalization of $2.58 billion, a PE ratio of -19.38 and a beta of 0.83.

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

Analysts Set New Price Targets

Several brokerages have issued reports on DNOW. Zacks Research raised DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Freedom Capital upgraded shares of DNOW to a “strong-buy” rating in a report on Monday, June 22nd. Wall Street Zen cut shares of DNOW from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DNOW in a report on Wednesday, May 27th. Finally, DA Davidson assumed coverage on shares of DNOW in a research note on Tuesday, June 16th. They issued a “buy” rating and a $17.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.