Heartland Advisors Inc. Acquires 100,000 Shares of DNOW Inc. $DNOW

Heartland Advisors Inc. lifted its holdings in DNOW Inc. (NYSE:DNOW) by 22.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 550,000 shares of the oil and gas company’s stock after buying an additional 100,000 shares during the quarter. Heartland Advisors Inc. owned approximately 0.30% of DNOW worth $6,550,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DNOW. Vanguard Group Inc. grew its position 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 valued at $258,351,000 after acquiring an additional 7,762,071 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of DNOW by 187.2% during the fourth quarter. Wellington Management Group LLP now owns 10,813,205 shares of the oil and gas company’s stock worth $143,275,000 after purchasing an additional 7,048,382 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of DNOW by 60.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,374,585 shares of the oil and gas company’s stock worth $137,466,000 after purchasing an additional 3,920,731 shares during the last quarter. Boston Partners boosted its stake in shares of DNOW by 66.0% during the fourth quarter. Boston Partners now owns 7,859,416 shares of the oil and gas company’s stock valued at $104,171,000 after purchasing an additional 3,124,280 shares during the period. Finally, State Street Corp boosted its stake in shares of DNOW by 81.8% during the fourth quarter. State Street Corp now owns 7,440,738 shares of the oil and gas company’s stock valued at $98,590,000 after purchasing an additional 3,347,335 shares during the period. 97.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of DNOW in a report on Wednesday, May 27th. DA Davidson assumed coverage on shares of DNOW in a report on Tuesday, June 16th. They set a “buy” rating and a $17.00 price objective for the company. Wall Street Zen cut shares of DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Freedom Capital upgraded shares of DNOW to a “strong-buy” rating in a research note on Monday, June 22nd. Finally, Zacks Research raised shares of DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, DNOW currently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

DNOW Stock Performance

Shares of DNOW stock opened at $13.95 on Monday. The firm has a market cap of $2.55 billion, a P/E ratio of -19.11 and a beta of 0.83. 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. The stock’s fifty day moving average price is $13.25 and its 200-day moving average price is $13.26.

DNOW (NYSE:DNOW) last released its quarterly earnings data 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 negative net margin of 4.14% and a positive return on equity of 4.94%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm earned $0.22 earnings per share. The business’s revenue was up 97.5% compared to the same quarter last year. On average, equities research analysts expect that DNOW Inc. will post 0.31 earnings per share for the current fiscal 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.