Tejara Capital Ltd Acquires Shares of 723,399 DNOW Inc. $DNOW

Tejara Capital Ltd purchased a new position in shares of DNOW Inc. (NYSE:DNOW) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 723,399 shares of the oil and gas company’s stock, valued at approximately $9,382,000. DNOW accounts for about 3.9% of Tejara Capital Ltd’s investment portfolio, making the stock its 7th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP increased its holdings in DNOW by 712.6% during the fourth quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock worth $26,000 after buying an additional 1,703 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of DNOW by 190.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 1,589 shares during the period. Clearstead Advisors LLC boosted its holdings in DNOW by 132.5% in the 4th quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,383 shares during the period. Sunbelt Securities Inc. boosted its position 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 valued at $29,000 after acquiring an additional 2,418 shares during the last quarter. Finally, Arax Advisory Partners raised its position in shares of DNOW by 336.3% during the 4th quarter. Arax Advisory Partners now owns 2,797 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 2,156 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

DNOW Price Performance

NYSE DNOW opened at $15.51 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $14.13 and its two-hundred day moving average is $13.44. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of -14.50 and a beta of 0.82. DNOW Inc. has a 12 month low of $10.94 and a 12 month high of $17.26.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. DNOW had a positive return on equity of 3.91% and a negative net margin of 4.58%.The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the business posted $0.27 earnings per share. The business’s quarterly revenue was up 108.1% compared to the same quarter last year. As a group, research analysts anticipate that DNOW Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wall Street Zen raised shares of DNOW from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Freedom Capital raised DNOW to a “strong-buy” rating in a research report on Monday, June 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. Zacks Research upgraded shares of DNOW from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. Finally, DA Davidson upped their target price on shares of DNOW from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.25.

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.