Quantbot Technologies LP Invests $777,000 in DNOW Inc. $DNOW

Quantbot Technologies LP bought a new stake in DNOW Inc. (NYSE:DNOW) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 59,889 shares of the oil and gas company’s stock, valued at approximately $777,000.

Other large investors have also modified their holdings of the company. BlackRock Inc. bought a new stake in DNOW in the second quarter valued at about $374,942,000. Vanguard Group Inc. lifted its holdings in DNOW by 66.1% during the 4th quarter. Vanguard Group Inc. now owns 19,498,204 shares of the oil and gas company’s stock worth $258,351,000 after buying an additional 7,762,071 shares during the last quarter. Wellington Management Group LLP grew its position in shares of 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 worth $143,275,000 after acquiring an additional 7,048,382 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of DNOW by 60.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,374,585 shares of the oil and gas company’s stock valued at $137,466,000 after acquiring an additional 3,920,731 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of DNOW by 66.0% in the 4th quarter. Boston Partners now owns 7,859,416 shares of the oil and gas company’s stock valued at $104,171,000 after acquiring an additional 3,124,280 shares during the last quarter. Institutional investors own 97.63% of the company’s stock.

DNOW Trading Up 1.3%

Shares of NYSE DNOW opened at $15.97 on Thursday. DNOW Inc. has a 12-month low of $10.94 and a 12-month high of $17.26. The company has a market cap of $2.89 billion, a price-to-earnings ratio of -14.93 and a beta of 0.82. The company has a current ratio of 2.14, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. The stock’s 50 day simple moving average is $14.29 and its 200 day simple moving average is $13.43.

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

Analyst Ratings Changes

DNOW has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of DNOW in a research note on Monday. Zacks Research upgraded shares of DNOW from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. Freedom Capital raised shares of DNOW to a “strong-buy” rating in a report on Monday, June 22nd. DA Davidson raised their price target on shares of DNOW from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Wall Street Zen raised shares of DNOW from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.25.

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.