Sei Investments Co. Acquires 47,832 Shares of DNOW Inc. $DNOW

Sei Investments Co. boosted its holdings in shares of DNOW Inc. (NYSE:DNOW) by 9.3% in the first quarter, Holdings Channel.com reports. The fund owned 560,195 shares of the oil and gas company’s stock after acquiring an additional 47,832 shares during the quarter. Sei Investments Co.’s holdings in DNOW were worth $6,672,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Walleye Capital LLC purchased a new stake in DNOW in the first quarter worth $328,000. First Trust Advisors LP boosted its stake in shares of DNOW by 2,335.0% during the first quarter. First Trust Advisors LP now owns 4,065,728 shares of the oil and gas company’s stock valued at $48,423,000 after purchasing an additional 3,898,758 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of DNOW by 136.0% in the first quarter. PNC Financial Services Group Inc. now owns 19,331 shares of the oil and gas company’s stock worth $230,000 after purchasing an additional 11,140 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of DNOW in the first quarter worth about $45,000. Finally, Heartland Advisors Inc. increased its stake in DNOW by 22.2% in the 1st quarter. Heartland Advisors Inc. now owns 550,000 shares of the oil and gas company’s stock worth $6,550,000 after buying an additional 100,000 shares during the period. Institutional investors own 97.63% of the company’s stock.

DNOW Stock Performance

DNOW stock opened at $14.25 on Tuesday. DNOW Inc. has a one year low of $10.94 and a one year high of $17.26. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -19.52 and a beta of 0.82. 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 has a 50-day simple moving average of $13.46 and a two-hundred day simple moving average of $13.31.

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 firm had revenue of $1.18 billion during 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%.The firm’s quarterly revenue was up 97.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. On average, equities analysts forecast that DNOW Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DNOW. Weiss Ratings reiterated a “sell (d+)” rating on shares of DNOW in a report on Wednesday, May 27th. Wall Street Zen lowered shares of DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Freedom Capital raised shares of DNOW to a “strong-buy” rating in a research note on Monday, June 22nd. DA Davidson assumed coverage on shares of DNOW in a research note on Tuesday, June 16th. They set a “buy” rating and a $17.00 price target for the company. Finally, Zacks Research upgraded DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.