Commerce Bank Purchases New Position in DNOW Inc. $DNOW

Commerce Bank bought a new stake in shares of DNOW Inc. (NYSE:DNOW) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 54,562 shares of the oil and gas company’s stock, valued at approximately $708,000.

Other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in DNOW in the 2nd quarter worth about $777,000. William Blair Investment Management LLC acquired a new position in shares of DNOW in the 2nd quarter valued at $12,860,000. Heartland Advisors Inc. acquired a new stake in DNOW during the 2nd quarter valued at approximately $7,782,000. TrinityBridge Ltd purchased a new stake in shares of DNOW in the second quarter worth about $54,000. Finally, Tejara Capital Ltd purchased a new stake in DNOW during the second quarter worth $9,382,000. Institutional investors own 97.63% of the company’s stock.

DNOW Trading Up 1.3%

NYSE:DNOW opened at $15.97 on Thursday. The company has a market capitalization of $2.89 billion, a PE ratio of -14.93 and a beta of 0.82. The stock’s 50 day moving average price is $14.29 and its 200 day moving average price is $13.43. The company has a quick ratio of 1.06, a current ratio of 2.14 and a debt-to-equity ratio of 0.23. DNOW Inc. has a 52-week low of $10.94 and a 52-week high of $17.26.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. DNOW had a negative net margin of 4.58% and a positive return on equity of 3.91%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the firm posted $0.27 EPS. DNOW’s revenue for the quarter was up 108.1% on a year-over-year basis. On average, research analysts anticipate that DNOW Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

DNOW has been the subject of a number of research reports. Susquehanna upped their target price on shares of DNOW from $16.00 to $19.00 and gave the stock a “positive” rating in a report on Friday, August 7th. DA Davidson lifted their target price on DNOW from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 10th. 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 restated a “sell (d+)” rating on shares of DNOW in a report on Monday. Finally, Wall Street Zen raised DNOW from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.25.

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.