Fifth Third Bancorp Buys 203,511 Shares of DNOW Inc. $DNOW

Fifth Third Bancorp boosted its stake in DNOW Inc. (NYSE:DNOW) by 19,493.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 204,555 shares of the oil and gas company’s stock after buying an additional 203,511 shares during the period. Fifth Third Bancorp’s holdings in DNOW were worth $2,436,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of 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 worth $258,351,000 after buying an additional 7,762,071 shares in the last quarter. Pullen Investment Management LLC acquired a new stake in DNOW in the 4th quarter worth about $2,177,000. BOKF NA raised its stake in DNOW by 13,223.9% in the 4th quarter. BOKF NA now owns 393,456 shares of the oil and gas company’s stock worth $5,213,000 after purchasing an additional 390,503 shares in the last quarter. Caisse Des Depots ET Consignations bought a new stake in DNOW in the 4th quarter valued at about $596,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in DNOW by 33.6% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 412,629 shares of the oil and gas company’s stock valued at $5,467,000 after purchasing an additional 103,864 shares during the period. 97.63% of the stock is owned by institutional investors.

DNOW Stock Up 2.2%

Shares of DNOW opened at $14.27 on Wednesday. The firm has a 50 day simple moving average of $13.29 and a two-hundred day simple moving average of $13.27. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.14. DNOW Inc. has a one year low of $10.94 and a one year high of $17.26. The company has a market cap of $2.60 billion, a P/E ratio of -19.54 and a beta of 0.83.

DNOW (NYSE:DNOW) last issued its quarterly 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). 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 during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the business posted $0.22 EPS. The company’s revenue for the quarter was up 97.5% on a year-over-year basis. Research analysts forecast that DNOW Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Freedom Capital raised shares of DNOW to a “strong-buy” rating in a report on Monday, June 22nd. DA Davidson started coverage on DNOW in a research note on Tuesday, June 16th. They issued a “buy” rating and a $17.00 price target for the company. Wall Street Zen downgraded DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research raised DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” 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.