Atom Investors LP Buys New Stake in DNOW Inc. $DNOW

Atom Investors LP bought a new stake in DNOW Inc. (NYSE:DNOW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 339,210 shares of the oil and gas company’s stock, valued at approximately $4,495,000. Atom Investors LP owned about 0.32% of DNOW as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Kemnay Advisory Services Inc. acquired a new stake in DNOW in the 4th quarter valued at approximately $46,000. Blair William & Co. IL purchased a new position in DNOW in the 4th quarter valued at approximately $246,000. RBF Capital LLC boosted its position in DNOW by 94.9% in the 4th quarter. RBF Capital LLC now owns 38,978 shares of the oil and gas company’s stock valued at $516,000 after buying an additional 18,978 shares during the period. Public Employees Retirement Association of Colorado boosted its position in DNOW by 77.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 27,118 shares of the oil and gas company’s stock valued at $359,000 after buying an additional 11,827 shares during the period. Finally, Medina Value Partners LLC purchased a new position in DNOW in the 4th quarter valued at approximately $19,630,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on DNOW. DA Davidson began coverage on shares of DNOW in a research report on Monday. They issued a “buy” rating and a $17.00 price target for the company. Zacks Research raised shares of DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of DNOW in a research report on Wednesday, May 27th. Wall Street Zen cut shares of DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Stifel Nicolaus decreased their price target on shares of DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, DNOW has a consensus rating of “Hold” and a consensus price target of $17.00.

DNOW Price Performance

DNOW stock opened at $13.45 on Wednesday. The stock has a market cap of $2.45 billion, a P/E ratio of -18.42 and a beta of 0.82. The company has a fifty day simple moving average of $12.94 and a 200-day simple moving average of $13.37. DNOW Inc. has a 12-month low of $10.94 and a 12-month 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.

DNOW (NYSE:DNOW) last released 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 firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.08 billion. DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.DNOW’s revenue for the quarter was up 97.5% on a year-over-year basis. During the same period last year, the firm posted $0.22 earnings per share. Equities analysts expect that DNOW Inc. will post 0.31 EPS for the current fiscal 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.