Y Intercept Hong Kong Ltd Purchases 240,728 Shares of DNOW Inc. $DNOW

Y Intercept Hong Kong Ltd raised its stake in shares of DNOW Inc. (NYSE:DNOW) by 525.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 286,542 shares of the oil and gas company’s stock after purchasing an additional 240,728 shares during the period. Y Intercept Hong Kong Ltd owned 0.15% of DNOW worth $3,413,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in DNOW by 66.1% in the 4th quarter. Vanguard Group Inc. now owns 19,498,204 shares of the oil and gas company’s stock worth $258,351,000 after buying an additional 7,762,071 shares during the period. Wellington Management Group LLP grew its position in shares of DNOW by 187.2% during the 4th quarter. Wellington Management Group LLP now owns 10,813,205 shares of the oil and gas company’s stock worth $143,275,000 after buying an additional 7,048,382 shares in the last quarter. Boston Partners bought a new stake in shares of DNOW in the third quarter valued at about $72,302,000. Pzena Investment Management LLC bought a new position in shares of DNOW during the fourth quarter valued at approximately $55,135,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of DNOW by 60.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,374,585 shares of the oil and gas company’s stock valued at $137,466,000 after purchasing an additional 3,920,731 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 analysts recently commented on the stock. DA Davidson began coverage on shares of DNOW in a research note on Tuesday, June 16th. They issued a “buy” rating and a $17.00 target price for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. Wall Street Zen downgraded DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research raised DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Finally, Freedom Capital upgraded DNOW to a “strong-buy” rating in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

DNOW Stock Performance

DNOW stock traded down $0.18 during mid-day trading on Tuesday, hitting $12.62. The company had a trading volume of 338,979 shares, compared to its average volume of 3,226,670. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -17.30 and a beta of 0.83. The company’s fifty day moving average is $13.24 and its 200-day moving average is $13.29. The company has a current ratio of 2.42, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27. DNOW Inc. has a 12-month low of $10.94 and a 12-month high of $17.26.

DNOW (NYSE:DNOW) last announced its earnings results 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). DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the company earned $0.22 earnings per share. The company’s quarterly revenue was up 97.5% compared to the same quarter last year. Equities research analysts predict that DNOW Inc. will post 0.31 EPS for the current 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.