Jupiter Topco LLC acquired a new stake in shares of DNOW Inc. (NYSE:DNOW - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 125,595 shares of the oil and gas company's stock, valued at approximately $1,629,000. Jupiter Topco LLC owned 0.07% of DNOW as of its most recent SEC filing.
Several other large investors also recently modified their holdings of DNOW. Covestor Ltd increased its holdings in DNOW by 15.7% during the fourth quarter. Covestor Ltd now owns 4,614 shares of the oil and gas company's stock valued at $61,000 after buying an additional 626 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of DNOW by 1.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 45,540 shares of the oil and gas company's stock valued at $603,000 after acquiring an additional 860 shares during the period. Summit Global Investments grew its position in shares of DNOW by 5.4% during the 4th quarter. Summit Global Investments now owns 16,991 shares of the oil and gas company's stock valued at $225,000 after acquiring an additional 865 shares during the period. PNC Financial Services Group Inc. raised its holdings in DNOW by 12.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,191 shares of the oil and gas company's stock worth $109,000 after purchasing an additional 892 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in DNOW by 50.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,629 shares of the oil and gas company's stock worth $48,000 after purchasing an additional 1,216 shares during the period. Institutional investors own 97.63% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on DNOW. Zacks Research upgraded DNOW from a "strong sell" rating to a "hold" rating in a research note on Friday, May 22nd. DA Davidson raised their price objective on shares of DNOW from $17.00 to $19.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Freedom Capital upgraded shares of DNOW to a "strong-buy" rating in a research note on Monday, June 22nd. Susquehanna increased their price target on DNOW from $16.00 to $19.00 and gave the stock a "positive" rating in a research note on Friday, August 7th. Finally, Wall Street Zen raised DNOW from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. 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's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $18.25.
Get Our Latest Stock Report on DNOW
DNOW Trading Up 2.0%
Shares of DNOW stock opened at $16.12 on Friday. The company has a quick ratio of 1.06, a current ratio of 2.14 and a debt-to-equity ratio of 0.23. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -15.07 and a beta of 0.87. DNOW Inc. has a twelve month low of $10.94 and a twelve month high of $17.26. The business has a 50-day moving average price of $14.65 and a 200-day moving average price of $13.43.
DNOW (NYSE:DNOW - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share for the quarter, beating 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 positive return on equity of 3.91% and a negative net margin of 4.58%.The firm's revenue for the quarter was up 108.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS. Equities research analysts anticipate that DNOW Inc. will post 0.34 EPS for the current fiscal year.
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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