Kennedy Capital Management LLC Takes $13.24 Million Position in DNOW Inc. $DNOW

Kennedy Capital Management LLC purchased a new stake in DNOW Inc. (NYSE:DNOW) in the 4th quarter, HoldingsChannel reports. The fund purchased 999,408 shares of the oil and gas company’s stock, valued at approximately $13,242,000.

Several other institutional investors and hedge funds also recently made changes to their positions in DNOW. Royal Bank of Canada increased its stake in shares of DNOW by 28.2% in the first quarter. Royal Bank of Canada now owns 35,783 shares of the oil and gas company’s stock valued at $611,000 after buying an additional 7,867 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of DNOW by 53.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,708 shares of the oil and gas company’s stock valued at $6,127,000 after buying an additional 124,797 shares during the period. Norges Bank acquired a new stake in shares of DNOW in the second quarter valued at about $1,192,000. Quantbot Technologies LP acquired a new stake in shares of DNOW in the second quarter valued at about $283,000. Finally, Invesco Ltd. increased its stake in shares of DNOW by 31.1% in the second quarter. Invesco Ltd. now owns 792,481 shares of the oil and gas company’s stock valued at $11,752,000 after buying an additional 187,878 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Stock Up 0.1%

Shares of DNOW stock opened at $14.05 on Monday. DNOW Inc. has a one year low of $10.94 and a one year high of $17.26. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.14. The stock’s 50-day moving average is $12.88 and its 200 day moving average is $13.38. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of -19.25 and a beta of 0.82.

DNOW (NYSE:DNOW) last announced its earnings results 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). DNOW had a negative net margin of 4.14% and a positive return on equity of 4.94%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company earned $0.22 EPS. The firm’s revenue for the quarter was up 97.5% on a year-over-year basis. Equities research analysts anticipate that DNOW Inc. will post 0.31 EPS for the current year.

Analyst Ratings Changes

DNOW has been the subject of several recent research reports. Zacks Research raised DNOW from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. Wall Street Zen cut DNOW from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Stifel Nicolaus decreased their price target on DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.00.

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.