Skylands Capital LLC Acquires 42,017 Shares of DNOW Inc. $DNOW

Skylands Capital LLC increased its holdings in shares of DNOW Inc. (NYSE:DNOW) by 84.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,650 shares of the oil and gas company’s stock after acquiring an additional 42,017 shares during the quarter. Skylands Capital LLC’s holdings in DNOW were worth $1,092,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Blue Trust Inc. purchased a new stake in shares of DNOW during the 4th quarter valued at $25,000. Quarry LP boosted its holdings in shares of DNOW by 712.6% in the 4th quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock worth $26,000 after buying an additional 1,703 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of DNOW by 190.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock worth $36,000 after buying an additional 1,589 shares during the last quarter. Clearstead Advisors LLC grew its position in DNOW by 132.5% during the fourth quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 1,383 shares during the period. Finally, Arax Advisory Partners grew its position in 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 buying an additional 2,156 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Analyst Upgrades and Downgrades

DNOW has been the topic of several research reports. DA Davidson assumed coverage on shares of DNOW in a research report on Tuesday, June 16th. They issued a “buy” rating and a $17.00 price objective on the stock. Zacks Research raised shares of DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Freedom Capital upgraded shares of DNOW to a “strong-buy” rating in a research note on Monday, June 22nd. Wall Street Zen cut shares of DNOW from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, DNOW has an average rating of “Moderate Buy” and an average price target of $17.00.

DNOW Trading Up 0.6%

Shares of DNOW opened at $13.53 on Friday. The business has a 50-day moving average of $13.15 and a 200 day moving average of $13.35. DNOW Inc. has a fifty-two week low of $10.94 and a fifty-two week high of $17.26. The firm has a market cap of $2.47 billion, a P/E ratio of -18.54 and a beta of 0.82. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 2.42.

DNOW (NYSE:DNOW) last released 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 business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.08 billion. DNOW had a negative net margin of 4.14% and a positive return on equity of 4.94%. DNOW’s revenue for the quarter was up 97.5% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. As a group, research analysts forecast 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.