Pzena Investment Management LLC Acquires New Shares in DNOW Inc. $DNOW

Pzena Investment Management LLC purchased a new position in DNOW Inc. (NYSE:DNOW) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,161,129 shares of the oil and gas company’s stock, valued at approximately $55,135,000.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. acquired a new position in DNOW during the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its position in 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 last quarter. SBI Securities Co. Ltd. boosted its position in DNOW by 17,756.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,857 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 2,841 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in DNOW by 2,101.7% during the third quarter. Parkside Financial Bank & Trust now owns 2,620 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 2,501 shares during the last quarter. Finally, Investors Research Corp boosted its position in DNOW by 61.1% during the fourth quarter. Investors Research Corp now owns 3,001 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 1,138 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors.

DNOW Stock Performance

NYSE:DNOW opened at $12.88 on Friday. The stock has a market cap of $2.35 billion, a P/E ratio of -17.64 and a beta of 0.85. The stock has a 50 day simple moving average of $12.35 and a 200 day simple moving average of $13.37. 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 1-year low of $10.94 and a 1-year high of $17.26.

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

Analyst Ratings Changes

Several research analysts recently commented on DNOW shares. Zacks Research cut DNOW from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 24th. Stifel Nicolaus dropped their price objective on DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Weiss Ratings downgraded DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. Finally, Wall Street Zen downgraded DNOW from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, DNOW currently has an average rating of “Hold” and an average price target of $17.00.

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.