Pullen Investment Management LLC Increases Holdings in DNOW Inc. $DNOW

Pullen Investment Management LLC increased its position in DNOW Inc. (NYSE:DNOW) by 39.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,832 shares of the oil and gas company’s stock after acquiring an additional 64,496 shares during the period. DNOW makes up about 1.4% of Pullen Investment Management LLC’s investment portfolio, making the stock its 23rd biggest position. Pullen Investment Management LLC owned approximately 0.12% of DNOW worth $2,725,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. acquired a new position in DNOW during the fourth quarter worth $25,000. Quarry LP grew its holdings in DNOW by 712.6% in the fourth quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 1,703 shares during the last quarter. Clearstead Advisors LLC increased its position in shares of DNOW by 132.5% in 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 in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of DNOW by 190.5% in 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 buying an additional 1,589 shares in the last quarter. Finally, Arax Advisory Partners increased its position in shares of DNOW by 336.3% in 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 in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DNOW has been the topic of several recent research reports. Stifel Nicolaus decreased their price objective on shares of DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Zacks Research upgraded shares of DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of DNOW in a research report on Wednesday, May 27th. DA Davidson initiated coverage on shares of DNOW in a report on Tuesday, June 16th. They issued a “buy” rating and a $17.00 price target on the stock. Finally, Wall Street Zen downgraded shares of DNOW from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, DNOW has an average rating of “Hold” and an average price target of $17.00.

DNOW Stock Performance

DNOW stock opened at $13.51 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 2.42. The stock has a fifty day moving average of $13.02 and a two-hundred day moving average of $13.37. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -18.50 and a beta of 0.82. DNOW Inc. has a fifty-two week low of $10.94 and a fifty-two week high of $17.26.

DNOW (NYSE:DNOW) last issued its quarterly earnings data 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 during 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%. The firm’s revenue was up 97.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.22 earnings per share. On average, analysts anticipate that DNOW Inc. will post 0.31 EPS for the current fiscal year.

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.