Deutsche Bank AG bought a new stake in DNOW Inc. (NYSE:DNOW - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 230,110 shares of the oil and gas company's stock, valued at approximately $2,985,000. Deutsche Bank AG owned 0.13% of DNOW as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of DNOW. Quarry LP increased its position 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. Sunbelt Securities Inc. increased its holdings 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 during the last quarter. Clearstead Advisors LLC raised its stake 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 acquiring an additional 1,383 shares during the period. EverSource Wealth Advisors LLC lifted its holdings 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 valued at $36,000 after purchasing an additional 1,589 shares during the last quarter. Finally, Arax Advisory Partners lifted its holdings in 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 purchasing an additional 2,156 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.
DNOW Stock Up 1.3%
Shares of NYSE DNOW opened at $15.97 on Thursday. The stock has a market capitalization of $2.89 billion, a P/E ratio of -14.93 and a beta of 0.82. The stock's fifty day moving average is $14.29 and its 200 day moving average is $13.43. 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.
DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.03. The business had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.27 billion. DNOW had a negative net margin of 4.58% and a positive return on equity of 3.91%. DNOW's revenue was up 108.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 earnings per share. Sell-side analysts forecast that DNOW Inc. will post 0.34 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have commented on DNOW shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of DNOW in a report on Monday. Wall Street Zen raised shares of DNOW from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Zacks Research upgraded shares of DNOW from a "strong sell" rating to a "hold" rating in a research note on Friday, May 22nd. Freedom Capital raised shares of DNOW to a "strong-buy" rating in a report on Monday, June 22nd. Finally, DA Davidson raised their price objective on shares of DNOW from $17.00 to $19.00 and gave the stock a "buy" rating in a research report 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 issued a Sell rating to the company. According to data from MarketBeat.com, DNOW has a consensus rating of "Moderate Buy" and a consensus price target of $18.25.
Get Our Latest Stock Analysis on DNOW
About DNOW
(
Free Report)
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.
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