Quantbot Technologies LP Invests $777,000 in DNOW Inc. $DNOW

Quantbot Technologies LP acquired a new position in DNOW Inc. (NYSE:DNOW) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 59,889 shares of the oil and gas company’s stock, valued at approximately $777,000.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP raised its stake in DNOW by 712.6% during the 4th quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 1,703 shares in the last quarter. Sunbelt Securities Inc. grew its stake in shares of DNOW by 8,060.0% in the first quarter. Sunbelt Securities Inc. now owns 2,448 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 2,418 shares in the last quarter. Clearstead Advisors LLC grew its stake in shares of DNOW by 132.5% in 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 in the last quarter. EverSource Wealth Advisors LLC increased 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 valued at $36,000 after purchasing an additional 1,589 shares during the period. Finally, Arax Advisory Partners raised its stake 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 valued at $37,000 after purchasing an additional 2,156 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DNOW has been the subject of several research analyst reports. Susquehanna upped their price objective on shares of DNOW from $16.00 to $19.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Zacks Research raised shares of DNOW from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. Wall Street Zen upgraded shares of DNOW from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. DA Davidson upped their price target on shares of DNOW from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Freedom Capital upgraded shares of DNOW to a “strong-buy” rating in a report on Monday, June 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’s stock. According to MarketBeat, DNOW has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

DNOW Stock Up 1.3%

Shares of DNOW stock opened at $15.97 on Thursday. DNOW Inc. has a 1 year low of $10.94 and a 1 year high of $17.26. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 2.14. The business’s fifty day moving average is $14.29 and its 200-day moving average is $13.43. The stock has a market cap of $2.89 billion, a PE ratio of -14.93 and a beta of 0.82.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.27 billion. DNOW had a positive return on equity of 3.91% and a negative net margin of 4.58%.The company’s revenue was up 108.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Equities analysts expect that DNOW Inc. will post 0.34 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.