Hillsdale Investment Management Inc. raised its stake in shares of DNOW Inc. (NYSE:DNOW – Free Report) by 12.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 496,600 shares of the oil and gas company’s stock after buying an additional 56,900 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in DNOW were worth $6,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. purchased a new stake in DNOW during the 4th quarter valued at approximately $25,000. Clearstead Advisors LLC grew its holdings in DNOW by 132.5% during the 4th quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 1,383 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of DNOW by 190.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 1,589 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in shares of DNOW by 17,756.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,857 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 2,841 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its position in shares of DNOW by 960.4% during the 4th quarter. Hantz Financial Services Inc. now owns 2,842 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 2,574 shares during the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have recently commented on DNOW. Wall Street Zen downgraded DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Stifel Nicolaus lowered their target price on DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Zacks Research upgraded DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of DNOW in a research report on Wednesday. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, DNOW presently has a consensus rating of “Hold” and a consensus target price of $17.00.
DNOW Stock Down 3.3%
NYSE DNOW opened at $12.82 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 2.42. The company has a market capitalization of $2.34 billion, a P/E ratio of -17.56 and a beta of 0.85. DNOW Inc. has a one year low of $10.94 and a one year high of $17.26. The stock has a 50 day moving average price of $12.56 and a 200-day moving average price of $13.33.
DNOW (NYSE:DNOW – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The company had revenue of $1.18 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. As a group, equities analysts predict that DNOW Inc. will post 0.31 EPS for the current fiscal year.
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.
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