Hillsdale Investment Management Inc. Increases Stake in DNOW Inc. $DNOW

Hillsdale Investment Management Inc. raised its holdings in shares of DNOW Inc. (NYSE:DNOW) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 496,600 shares of the oil and gas company’s stock after buying an additional 56,900 shares during the period. Hillsdale Investment Management Inc. owned about 0.47% of DNOW worth $6,580,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in DNOW by 66.1% during the fourth quarter. Vanguard Group Inc. now owns 19,498,204 shares of the oil and gas company’s stock valued at $258,351,000 after buying an additional 7,762,071 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in DNOW by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 6,453,854 shares of the oil and gas company’s stock valued at $98,421,000 after buying an additional 42,878 shares during the last quarter. Boston Partners purchased a new stake in DNOW during the third quarter valued at approximately $72,302,000. Geode Capital Management LLC increased its holdings in DNOW by 71.4% in the 4th quarter. Geode Capital Management LLC now owns 4,429,530 shares of the oil and gas company’s stock worth $58,701,000 after acquiring an additional 1,844,779 shares in the last quarter. Finally, Pzena Investment Management LLC purchased a new stake in DNOW in the 4th quarter worth approximately $55,135,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Trading Down 3.3%

DNOW stock opened at $12.82 on Friday. 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 12-month low of $10.94 and a 12-month high of $17.26. The firm has a 50 day moving average of $12.56 and a 200 day moving average of $13.33. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of -17.56 and a beta of 0.85.

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

Analyst Upgrades and Downgrades

DNOW has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of DNOW in a report on Wednesday. Wall Street Zen lowered shares of DNOW from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Zacks Research raised shares of DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. 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. Two 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, the company presently has a consensus rating of “Hold” and a consensus target price of $17.00.

DNOW 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.