Tejara Capital Ltd Acquires New Holdings in DNOW Inc. $DNOW

Tejara Capital Ltd purchased a new position in shares of DNOW Inc. (NYSE:DNOW) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 723,399 shares of the oil and gas company’s stock, valued at approximately $9,382,000. DNOW makes up approximately 3.9% of Tejara Capital Ltd’s portfolio, making the stock its 7th biggest position. Tejara Capital Ltd owned about 0.40% of DNOW as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in DNOW. Vanguard Group Inc. increased its stake in DNOW by 66.1% during the fourth quarter. Vanguard Group Inc. now owns 19,498,204 shares of the oil and gas company’s stock valued at $258,351,000 after acquiring an additional 7,762,071 shares during the period. BOKF NA increased its stake in shares of DNOW by 13,223.9% in the 4th quarter. BOKF NA now owns 393,456 shares of the oil and gas company’s stock valued at $5,213,000 after buying an additional 390,503 shares during the period. Caisse Des Depots ET Consignations acquired a new position in DNOW in the fourth quarter valued at approximately $596,000. Bailard Inc. acquired a new position in shares of DNOW during the 4th quarter worth about $1,820,000. Finally, Engine Capital Management LP bought a new stake in shares of DNOW in the 1st quarter valued at $61,525,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on DNOW shares. Freedom Capital raised DNOW to a “strong-buy” rating in a research note on Monday, June 22nd. Zacks Research raised DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Wall Street Zen upgraded DNOW from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Susquehanna increased their price objective on shares of DNOW from $16.00 to $19.00 and gave the company a “positive” rating in a research note on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of DNOW in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.25.

DNOW Trading Down 0.6%

NYSE DNOW opened at $15.51 on Friday. The business has a 50 day simple moving average of $14.13 and a 200 day simple moving average of $13.44. The stock has a market capitalization of $2.80 billion, a P/E ratio of -14.50 and a beta of 0.82. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.14 and a quick ratio of 1.06. DNOW Inc. has a one year low of $10.94 and a one year high of $17.26.

DNOW (NYSE:DNOW) last issued its earnings results on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. DNOW had a negative net margin of 4.58% and a positive return on equity of 3.91%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the firm earned $0.27 earnings per share. DNOW’s revenue was up 108.1% on a year-over-year basis. Research analysts expect that DNOW Inc. will post 0.34 earnings per share for the current year.

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.