999,408 Shares in DNOW Inc. $DNOW Bought by Kennedy Capital Management LLC

Kennedy Capital Management LLC acquired a new position in shares of DNOW Inc. (NYSE:DNOW) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 999,408 shares of the oil and gas company’s stock, valued at approximately $13,242,000. Kennedy Capital Management LLC owned about 0.95% of DNOW as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DNOW. Vanguard Group Inc. lifted its position in shares of DNOW by 66.1% during the 4th quarter. Vanguard Group Inc. now owns 19,498,204 shares of the oil and gas company’s stock worth $258,351,000 after buying an additional 7,762,071 shares during the last quarter. Boston Partners bought a new stake in shares of DNOW during the 3rd quarter worth $72,302,000. Pzena Investment Management LLC bought a new stake in shares of DNOW during the 4th quarter worth $55,135,000. Dimensional Fund Advisors LP lifted its position in shares of DNOW by 60.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,374,585 shares of the oil and gas company’s stock worth $137,466,000 after buying an additional 3,920,731 shares during the last quarter. Finally, Verbena Value LP bought a new stake in shares of DNOW during the 4th quarter worth $48,800,000. 97.63% of the stock is currently owned by institutional investors.

DNOW Price Performance

Shares of DNOW opened at $14.05 on Monday. DNOW Inc. has a 12-month low of $10.94 and a 12-month high of $17.26. The business has a 50-day simple moving average of $12.88 and a two-hundred day simple moving average of $13.38. The company has a quick ratio of 1.14, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.57 billion, a PE ratio of -19.25 and a beta of 0.82.

DNOW (NYSE:DNOW) last issued its earnings results 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 positive return on equity of 4.94% and a negative net margin of 4.14%.The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the company earned $0.22 EPS. DNOW’s revenue for the quarter was up 97.5% on a year-over-year basis. Analysts anticipate that DNOW Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DNOW. Weiss Ratings restated a “sell (d+)” rating on shares of DNOW in a research report on Wednesday, May 27th. Zacks Research upgraded DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Stifel Nicolaus dropped their price objective on DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Finally, Wall Street Zen downgraded DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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.