Ritholtz Wealth Management Invests $187,000 in DNOW Inc. $DNOW

Ritholtz Wealth Management purchased a new position in shares of DNOW Inc. (NYSE:DNOW) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,617 shares of the oil and gas company’s stock, valued at approximately $187,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SummerHaven Investment Management LLC raised its position in DNOW by 1.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 61,228 shares of the oil and gas company’s stock valued at $908,000 after buying an additional 909 shares during the last quarter. GAMMA Investing LLC raised its position in DNOW by 122.1% in the 1st quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 1,022 shares during the last quarter. Nisa Investment Advisors LLC raised its position in DNOW by 15.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 7,825 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 1,073 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in DNOW by 1.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 81,390 shares of the oil and gas company’s stock valued at $1,390,000 after buying an additional 1,467 shares during the last quarter. Finally, Brooklyn Investment Group raised its position in DNOW by 2,650.0% in the 1st quarter. Brooklyn Investment Group now owns 1,705 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 1,643 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Zacks Research lowered DNOW from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Stifel Nicolaus reduced their target price on DNOW from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, July 21st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of DNOW in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, DNOW has an average rating of “Hold” and a consensus target price of $18.00.

DNOW Price Performance

DNOW opened at $14.63 on Wednesday. The business has a fifty day simple moving average of $15.23 and a 200 day simple moving average of $15.09. The company has a market capitalization of $1.57 billion, a PE ratio of 19.25 and a beta of 1.05. DNOW Inc. has a 1 year low of $11.54 and a 1 year high of $18.45.

DNOW (NYSE:DNOW) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The business had revenue of $628.00 million during the quarter, compared to the consensus estimate of $612.60 million. DNOW had a return on equity of 8.97% and a net margin of 3.45%.The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 EPS. Equities analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

About DNOW

DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as artificial lift systems, coatings, and miscellaneous expendable items.