DNOW Inc. $DNOW Shares Purchased by Picton Mahoney Asset Management

by · The Cerbat Gem

Picton Mahoney Asset Management increased its position in shares of DNOW Inc. (NYSE:DNOW – Free Report) by 116,545.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 110,813 shares of the oil and gas company’s stock after buying an additional 110,718 shares during the quarter. Picton Mahoney Asset Management owned about 0.11% of DNOW worth $1,689,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in DNOW. Ameriprise Financial Inc. boosted its holdings in shares of DNOW by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 2,987,198 shares of the oil and gas company’s stock valued at $44,300,000 after acquiring an additional 72,517 shares during the period. Geode Capital Management LLC increased its holdings in shares of DNOW by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,524,052 shares of the oil and gas company’s stock valued at $37,437,000 after acquiring an additional 32,317 shares during the period. American Century Companies Inc. raised its position in DNOW by 19.3% in the 2nd quarter. American Century Companies Inc. now owns 2,389,433 shares of the oil and gas company’s stock valued at $35,435,000 after purchasing an additional 386,383 shares during the last quarter. First Trust Advisors LP boosted its stake in DNOW by 470.7% during the 2nd quarter. First Trust Advisors LP now owns 1,952,023 shares of the oil and gas company’s stock worth $28,949,000 after purchasing an additional 1,609,981 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in DNOW by 57.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,797,651 shares of the oil and gas company’s stock worth $26,659,000 after purchasing an additional 654,490 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Stock Performance

NYSE DNOW opened at $12.08 on Friday. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -41.66 and a beta of 0.79. The business’s 50 day moving average is $14.26 and its two-hundred day moving average is $14.46. DNOW Inc. has a 12-month low of $11.34 and a 12-month high of $17.48. The company has a current ratio of 2.34, a quick ratio of 1.11 and a debt-to-equity ratio of 0.18.

DNOW (NYSE:DNOW – Get Free Report) last posted its quarterly earnings results on Friday, February 20th. The oil and gas company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. The business had revenue of $959.00 million during the quarter, compared to analysts’ expectations of $969.50 million. DNOW had a positive return on equity of 7.26% and a negative net margin of 2.66%.The company’s quarterly revenue was up 68.0% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS. Research analysts expect that DNOW Inc. will post 0.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DNOW shares. Wall Street Zen cut shares of DNOW from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Zacks Research cut DNOW from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 23rd. Stifel Nicolaus reduced their price objective on DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Susquehanna upgraded DNOW from a “neutral” rating to a “positive” rating and set a $16.00 target price on the stock in a research note on Friday, November 21st. Finally, Weiss Ratings lowered DNOW from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, February 27th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.00.

Check Out Our Latest Report on DNOW

About DNOW

(Free Report)

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.

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