LSV Asset Management Sells 213,840 Shares of DNOW Inc. $DNOW

LSV Asset Management trimmed its position in shares of DNOW Inc. (NYSE:DNOW) by 28.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 531,260 shares of the oil and gas company’s stock after selling 213,840 shares during the period. LSV Asset Management owned about 0.51% of DNOW worth $7,039,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position 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 acquiring an additional 7,762,071 shares during the period. Dimensional Fund Advisors LP increased its position in shares of DNOW by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 6,453,854 shares of the oil and gas company’s stock worth $98,421,000 after acquiring an additional 42,878 shares during the period. Boston Partners purchased a new position in shares of DNOW during the third quarter worth approximately $72,302,000. Pzena Investment Management LLC purchased a new position in shares of DNOW during the fourth quarter worth approximately $55,135,000. Finally, Wellington Management Group LLP increased its position in shares of DNOW by 260.2% during the third quarter. Wellington Management Group LLP now owns 3,764,823 shares of the oil and gas company’s stock worth $57,414,000 after acquiring an additional 2,719,594 shares during the period. 97.63% of the stock is currently owned by institutional investors.

DNOW Price Performance

NYSE DNOW opened at $13.24 on Wednesday. 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 firm’s 50 day moving average price is $12.46 and its 200-day moving average price is $13.34. DNOW Inc. has a 52-week low of $10.94 and a 52-week high of $17.26. The company has a market cap of $2.42 billion, a PE ratio of -18.14 and a beta of 0.85.

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 analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the business posted $0.22 earnings per share. DNOW’s revenue for the quarter was up 97.5% on a year-over-year basis. Sell-side analysts forecast that DNOW Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Zacks Research lowered shares of DNOW from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 24th. Stifel Nicolaus reduced their target price 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. Weiss Ratings lowered shares of DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, February 27th. Finally, Wall Street Zen lowered shares of DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.