DNOW Inc. $DNOW Stock Position Raised by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC lifted its stake in shares of DNOW Inc. (NYSE:DNOW) by 29.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,437,321 shares of the oil and gas company’s stock after acquiring an additional 329,903 shares during the quarter. Bridgeway Capital Management LLC’s holdings in DNOW were worth $19,045,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 7,762,071 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of DNOW by 60.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,374,585 shares of the oil and gas company’s stock worth $137,466,000 after acquiring an additional 3,920,731 shares in the last quarter. Boston Partners boosted its stake in shares of DNOW by 66.0% during the 4th quarter. Boston Partners now owns 7,859,416 shares of the oil and gas company’s stock worth $104,171,000 after acquiring an additional 3,124,280 shares in the last quarter. State Street Corp boosted its stake in shares of DNOW by 81.8% during the 4th quarter. State Street Corp now owns 7,440,738 shares of the oil and gas company’s stock worth $98,590,000 after acquiring an additional 3,347,335 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of DNOW by 42.4% during the 4th quarter. Renaissance Technologies LLC now owns 5,394,325 shares of the oil and gas company’s stock worth $71,475,000 after acquiring an additional 1,605,411 shares in the last quarter. 97.63% of the stock is owned by institutional investors.

DNOW Stock Performance

Shares of DNOW stock opened at $13.51 on Thursday. The stock has a market cap of $2.47 billion, a PE ratio of -18.51 and a beta of 0.82. The business has a fifty day simple moving average of $12.97 and a 200-day simple moving average of $13.37. 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.

DNOW (NYSE:DNOW) last issued its earnings results on Thursday, May 7th. The oil and gas company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.08 billion. DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.The business’s quarterly revenue was up 97.5% on a year-over-year basis. During the same period last year, the business earned $0.22 EPS. On average, sell-side analysts anticipate that DNOW Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DNOW shares. 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. DA Davidson began coverage on DNOW in a research report on Tuesday. They issued a “buy” rating and a $17.00 target price for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DNOW in a research report on Wednesday, May 27th. Wall Street Zen cut DNOW from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Zacks Research raised DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.00.

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.