LSV Asset Management Decreases Holdings in DNOW Inc. $DNOW

LSV Asset Management decreased its position in shares of DNOW Inc. (NYSE:DNOW) by 28.7% in the fourth quarter, HoldingsChannel reports. The fund owned 531,260 shares of the oil and gas company’s stock after selling 213,840 shares during the quarter. LSV Asset Management’s holdings in DNOW were worth $7,039,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hillsdale Investment Management Inc. lifted its position in DNOW by 134.8% during the third quarter. Hillsdale Investment Management Inc. now owns 439,700 shares of the oil and gas company’s stock valued at $6,705,000 after acquiring an additional 252,400 shares during the last quarter. New York State Common Retirement Fund lifted its position in DNOW by 25.3% during the third quarter. New York State Common Retirement Fund now owns 864,495 shares of the oil and gas company’s stock valued at $13,184,000 after acquiring an additional 174,544 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its position in DNOW by 58.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 234,617 shares of the oil and gas company’s stock valued at $3,578,000 after acquiring an additional 86,509 shares during the last quarter. Allianz Asset Management GmbH lifted its position in DNOW by 15.2% during the third quarter. Allianz Asset Management GmbH now owns 1,404,668 shares of the oil and gas company’s stock valued at $21,421,000 after acquiring an additional 185,727 shares during the last quarter. Finally, Picton Mahoney Asset Management lifted its position in DNOW by 116,545.3% during the third quarter. Picton Mahoney Asset Management now owns 110,813 shares of the oil and gas company’s stock valued at $1,689,000 after acquiring an additional 110,718 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DNOW. Wall Street Zen cut shares of DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research cut shares of DNOW from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 24th. Weiss Ratings cut shares of DNOW from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, February 27th. Finally, Stifel Nicolaus dropped their price objective on shares of DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, DNOW currently has a consensus rating of “Hold” and an average target price of $17.00.

DNOW Price Performance

Shares of DNOW opened at $13.24 on Wednesday. The firm has a market capitalization of $2.42 billion, a PE ratio of -18.14 and a beta of 0.85. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.14. DNOW Inc. has a 1-year low of $10.94 and a 1-year high of $17.26. The company’s fifty day moving average price is $12.46 and its 200-day moving average price is $13.34.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.08 billion. DNOW had a negative net margin of 4.14% and a positive return on equity of 4.94%. DNOW’s quarterly revenue was up 97.5% compared to the same quarter last year. During the same period last year, the firm earned $0.22 earnings per share. On average, equities research analysts predict that DNOW Inc. will post 0.31 EPS 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.