Medina Value Partners LLC Purchases New Shares in DNOW Inc. $DNOW

Medina Value Partners LLC purchased a new stake in DNOW Inc. (NYSE:DNOW) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,481,529 shares of the oil and gas company’s stock, valued at approximately $19,630,000. DNOW comprises 4.6% of Medina Value Partners LLC’s holdings, making the stock its 10th biggest holding.

A number of other institutional investors have also made changes to their positions in DNOW. Royal Bank of Canada raised its holdings 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in DNOW by 53.4% during the 1st 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 worth $6,127,000 after purchasing an additional 124,797 shares during the last quarter. Norges Bank bought a new stake in DNOW during the 2nd quarter worth about $1,192,000. Quantbot Technologies LP bought a new stake in DNOW during the 2nd quarter worth about $283,000. Finally, Invesco Ltd. raised its holdings in DNOW by 31.1% during the 2nd quarter. Invesco Ltd. now owns 792,481 shares of the oil and gas company’s stock worth $11,752,000 after purchasing an additional 187,878 shares during the last quarter. 97.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DNOW shares. Weiss Ratings reissued a “sell (d+)” rating on shares of DNOW in a report on Wednesday, May 27th. Stifel Nicolaus dropped their price objective on DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Wall Street Zen cut DNOW from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Zacks Research raised DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. 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. According to MarketBeat.com, DNOW currently has an average rating of “Hold” and an average target price of $17.00.

DNOW Stock Performance

Shares of NYSE:DNOW opened at $14.05 on Monday. The stock has a market capitalization of $2.57 billion, a P/E ratio of -19.25 and a beta of 0.82. DNOW Inc. has a 1-year low of $10.94 and a 1-year high of $17.26. The company has a current ratio of 2.42, a quick ratio of 1.14 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $12.88 and a two-hundred day moving average price of $13.38.

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