Medina Value Partners LLC Makes New $19.63 Million Investment in DNOW Inc. $DNOW

Medina Value Partners LLC purchased a new position in shares of DNOW Inc. (NYSE:DNOW) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,481,529 shares of the oil and gas company’s stock, valued at approximately $19,630,000. DNOW makes up approximately 4.6% of Medina Value Partners LLC’s holdings, making the stock its 10th largest holding. Medina Value Partners LLC owned about 1.41% of DNOW as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of DNOW. Royal Bank of Canada boosted its stake in DNOW by 28.2% during the first quarter. Royal Bank of Canada now owns 35,783 shares of the oil and gas company’s stock worth $611,000 after buying an additional 7,867 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of DNOW by 53.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,708 shares of the oil and gas company’s stock valued at $6,127,000 after acquiring an additional 124,797 shares during the period. Norges Bank bought a new position in shares of DNOW during the second quarter valued at $1,192,000. Quantbot Technologies LP bought a new position in shares of DNOW during the second quarter valued at $283,000. Finally, Invesco Ltd. lifted its holdings in shares of DNOW by 31.1% during the second quarter. Invesco Ltd. now owns 792,481 shares of the oil and gas company’s stock valued at $11,752,000 after acquiring an additional 187,878 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Stock Performance

DNOW stock opened at $14.05 on Monday. The stock has a 50-day simple moving average of $12.88 and a 200 day simple moving average of $13.38. The company has a quick ratio of 1.14, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. DNOW Inc. has a 12-month low of $10.94 and a 12-month high of $17.26. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -19.25 and a beta of 0.82.

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 analysts’ consensus estimates of $0.05 by ($0.04). DNOW had a negative net margin of 4.14% and a positive return on equity of 4.94%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm earned $0.22 earnings per share. The business’s quarterly revenue was up 97.5% compared to the same quarter last year. On average, research analysts anticipate that DNOW Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wall Street Zen cut DNOW from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Zacks Research raised DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. Stifel Nicolaus cut their price objective on DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of DNOW in a report on Wednesday, May 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 company’s stock. According to MarketBeat.com, the company presently 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.