Atom Investors LP Makes New $4.50 Million Investment in DNOW Inc. $DNOW

Atom Investors LP acquired a new position in shares of DNOW Inc. (NYSE:DNOW) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 339,210 shares of the oil and gas company’s stock, valued at approximately $4,495,000.

Several other hedge funds also recently made changes to their positions in DNOW. Blue Trust Inc. purchased a new position in shares of DNOW during the fourth quarter worth about $25,000. Quarry LP grew its holdings in shares of DNOW by 712.6% during the fourth quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 1,703 shares during the last quarter. Clearstead Advisors LLC grew its holdings in shares of DNOW by 132.5% during the fourth quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 1,383 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of DNOW by 190.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 1,589 shares during the last quarter. Finally, Arax Advisory Partners grew its holdings in shares of DNOW by 336.3% during the fourth quarter. Arax Advisory Partners now owns 2,797 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 2,156 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

DNOW has been the topic of several research reports. Zacks Research raised DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. DA Davidson began coverage on shares of DNOW in a report on Monday. They issued a “buy” rating and a $17.00 target price for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DNOW in a report on Wednesday, May 27th. Wall Street Zen cut shares of DNOW from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Stifel Nicolaus reduced their target price on shares of DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.00.

DNOW Trading Down 1.9%

NYSE DNOW opened at $13.45 on Wednesday. The stock has a market capitalization of $2.45 billion, a P/E ratio of -18.42 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 firm has a 50-day moving average price of $12.94 and a 200 day moving average price of $13.37. The company has a quick ratio of 1.14, a current ratio of 2.42 and a debt-to-equity ratio of 0.27.

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

About DNOW

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.