Pacer Advisors Inc. Has $6.43 Million Stake in DNOW Inc. $DNOW

Pacer Advisors Inc. trimmed its position in shares of DNOW Inc. (NYSE:DNOW) by 21.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 485,205 shares of the oil and gas company’s stock after selling 130,271 shares during the period. Pacer Advisors Inc. owned approximately 0.46% of DNOW worth $6,429,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of DNOW by 66.1% in 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 purchasing an additional 7,762,071 shares during the period. Wellington Management Group LLP grew its holdings in DNOW by 187.2% in the 4th quarter. Wellington Management Group LLP now owns 10,813,205 shares of the oil and gas company’s stock valued at $143,275,000 after buying an additional 7,048,382 shares during the last quarter. Boston Partners bought a new position in DNOW in the 3rd quarter worth approximately $72,302,000. Pzena Investment Management LLC bought a new position in DNOW in the 4th quarter worth approximately $55,135,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of DNOW by 60.8% during the fourth 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. 97.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DNOW. 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 note on Saturday, May 9th. Zacks Research raised shares of DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Stifel Nicolaus decreased their price target 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. Finally, DA Davidson began coverage on shares of DNOW in a report on Tuesday, June 16th. They set a “buy” rating and a $17.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.00.

DNOW Stock Performance

Shares of NYSE:DNOW opened at $13.51 on Monday. The business’s fifty day moving average price is $13.02 and its two-hundred day moving average price is $13.37. DNOW Inc. has a fifty-two week low of $10.94 and a fifty-two week high of $17.26. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -18.50 and a beta of 0.82. 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 (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 analysts’ consensus estimates of $0.05 by ($0.04). The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business posted $0.22 earnings per share. As a group, analysts predict 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.