274,821 Shares in DNOW Inc. $DNOW Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of DNOW Inc. (NYSE:DNOW) in the second quarter, Holdings Channel reports. The fund purchased 274,821 shares of the oil and gas company’s stock, valued at approximately $3,564,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP increased its stake in shares of DNOW by 712.6% in the fourth quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 1,703 shares during the period. Sunbelt Securities Inc. raised its holdings in shares of DNOW by 8,060.0% during the first quarter. Sunbelt Securities Inc. now owns 2,448 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 2,418 shares during the last quarter. Clearstead Advisors LLC lifted its position in DNOW by 132.5% during the fourth quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,383 shares during the period. EverSource Wealth Advisors LLC lifted its position in DNOW by 190.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 1,589 shares during the period. Finally, Arax Advisory Partners boosted its holdings in DNOW by 336.3% in the fourth quarter. Arax Advisory Partners now owns 2,797 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 2,156 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen raised DNOW from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Susquehanna boosted their price objective on DNOW from $16.00 to $19.00 and gave the company a “positive” rating in a report on Friday, August 7th. Zacks Research upgraded DNOW from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. Freedom Capital raised DNOW to a “strong-buy” rating in a report on Monday, June 22nd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of DNOW in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.25.

DNOW Stock Performance

Shares of NYSE DNOW opened at $15.95 on Friday. The company has a market capitalization of $2.88 billion, a PE ratio of -14.91 and a beta of 0.82. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.06 and a current ratio of 2.14. The company’s fifty day moving average price is $14.40 and its 200 day moving average price is $13.45. DNOW Inc. has a 1 year low of $10.94 and a 1 year high of $17.26.

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

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.