Tejara Capital Ltd Buys Shares of 685,617 DNOW Inc. $DNOW

Tejara Capital Ltd purchased a new stake in shares of DNOW Inc. (NYSE:DNOW) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 685,617 shares of the oil and gas company’s stock, valued at approximately $9,084,000. DNOW makes up approximately 2.1% of Tejara Capital Ltd’s portfolio, making the stock its 8th largest position. Tejara Capital Ltd owned 0.65% of DNOW as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Blue Trust Inc. acquired a new stake in DNOW during the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC increased its position in DNOW by 190.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 1,589 shares during the last quarter. SBI Securities Co. Ltd. increased its position in DNOW by 17,756.3% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,857 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 2,841 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of DNOW by 2,101.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,620 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 2,501 shares in the last quarter. Finally, Investors Research Corp raised its stake in shares of DNOW by 61.1% during the 4th quarter. Investors Research Corp now owns 3,001 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 1,138 shares in the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Price Performance

NYSE DNOW opened at $13.35 on Friday. DNOW Inc. has a fifty-two week low of $10.94 and a fifty-two week high of $17.26. The stock’s 50-day moving average is $12.24 and its two-hundred day moving average is $13.43. The firm has a market cap of $2.44 billion, a P/E ratio of -18.28 and a beta of 0.85. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.14.

DNOW (NYSE:DNOW) last released its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company posted $0.22 EPS. The business’s revenue was up 97.5% compared to the same quarter last year. On average, analysts anticipate that DNOW Inc. will post 0.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Stifel Nicolaus lowered their price target on DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Wall Street Zen lowered shares of DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings cut shares of DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. Finally, Zacks Research downgraded shares of DNOW from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 24th. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, DNOW has an average rating of “Hold” and a consensus target price 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.