Legal & General Group Plc Has $6.28 Million Position in DNOW Inc. $DNOW

Legal & General Group Plc boosted its position in DNOW Inc. (NYSE:DNOW) by 65.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 473,829 shares of the oil and gas company’s stock after purchasing an additional 187,774 shares during the period. Legal & General Group Plc owned 0.45% of DNOW worth $6,278,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of DNOW. Royal Bank of Canada increased its holdings in DNOW by 28.2% in the 1st quarter. Royal Bank of Canada now owns 35,783 shares of the oil and gas company’s stock worth $611,000 after purchasing an additional 7,867 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in DNOW by 53.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,708 shares of the oil and gas company’s stock worth $6,127,000 after purchasing an additional 124,797 shares in the last quarter. Norges Bank acquired a new position in DNOW in the 2nd quarter worth about $1,192,000. Quantbot Technologies LP acquired a new position in DNOW in the 2nd quarter worth about $283,000. Finally, Invesco Ltd. increased its holdings in DNOW by 31.1% in the 2nd quarter. Invesco Ltd. now owns 792,481 shares of the oil and gas company’s stock worth $11,752,000 after purchasing an additional 187,878 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DNOW. Stifel Nicolaus decreased their price target on DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Zacks Research raised DNOW from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. Finally, Wall Street Zen cut DNOW from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.00.

DNOW Stock Performance

Shares of DNOW stock opened at $13.22 on Friday. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -18.10 and a beta of 0.82. DNOW Inc. has a 52 week low of $10.94 and a 52 week high of $17.26. The company has a quick ratio of 1.14, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $12.70 and a 200-day moving average of $13.34.

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