GSA Capital Partners LLP Purchases Shares of 162,050 DNOW Inc. $DNOW

GSA Capital Partners LLP purchased a new stake in DNOW Inc. (NYSE:DNOW) during the second quarter, HoldingsChannel reports. The institutional investor purchased 162,050 shares of the oil and gas company’s stock, valued at approximately $2,102,000.

Several other institutional investors and hedge funds also recently modified their holdings of DNOW. Quarry LP lifted its stake in DNOW by 712.6% in the 4th quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 1,703 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in DNOW by 190.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 1,589 shares during the last quarter. Clearstead Advisors LLC grew its stake in shares of DNOW by 132.5% during the 4th quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 1,383 shares in the last quarter. Sunbelt Securities Inc. grew its stake in shares of DNOW by 8,060.0% during the 1st quarter. Sunbelt Securities Inc. now owns 2,448 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 2,418 shares in the last quarter. Finally, Arax Advisory Partners raised its holdings in shares of 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 owned by institutional investors and hedge funds.

DNOW Trading Up 1.1%

DNOW stock opened at $16.48 on Friday. DNOW Inc. has a 52 week low of $10.94 and a 52 week high of $17.26. 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 stock has a market capitalization of $2.98 billion, a P/E ratio of -15.40 and a beta of 0.82. The stock has a 50-day simple moving average of $13.96 and a 200 day simple moving average of $13.42.

DNOW (NYSE:DNOW) last announced its quarterly earnings results on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. DNOW had a positive return on equity of 3.91% and a negative net margin of 4.58%.The business’s revenue was up 108.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 earnings per share. Analysts expect that DNOW Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DNOW shares. Susquehanna boosted their price objective on shares of DNOW from $16.00 to $19.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. Freedom Capital raised shares of DNOW to a “strong-buy” rating in a research report on Monday, June 22nd. DA Davidson lifted their price target on shares of DNOW from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of DNOW from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

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.