Bailard Inc. Reduces Stock Holdings in DNOW Inc. $DNOW

Bailard Inc. lowered its stake in DNOW Inc. (NYSE:DNOW) by 30.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,494 shares of the oil and gas company’s stock after selling 18,974 shares during the period. Bailard Inc.’s holdings in DNOW were worth $645,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DNOW. SummerHaven Investment Management LLC lifted its position in shares of DNOW by 1.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 61,228 shares of the oil and gas company’s stock worth $908,000 after purchasing an additional 909 shares during the period. Nisa Investment Advisors LLC raised its stake in DNOW by 15.9% in the first quarter. Nisa Investment Advisors LLC now owns 7,825 shares of the oil and gas company’s stock worth $134,000 after buying an additional 1,073 shares in the last quarter. Brooklyn Investment Group lifted its holdings in DNOW by 2,650.0% in the first quarter. Brooklyn Investment Group now owns 1,705 shares of the oil and gas company’s stock worth $29,000 after buying an additional 1,643 shares during the period. Nordea Investment Management AB boosted its position in DNOW by 0.7% during the 2nd quarter. Nordea Investment Management AB now owns 343,371 shares of the oil and gas company’s stock valued at $5,374,000 after acquiring an additional 2,289 shares in the last quarter. Finally, Headlands Technologies LLC boosted its position in DNOW by 21,663.6% during the 1st quarter. Headlands Technologies LLC now owns 2,394 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 2,383 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on DNOW shares. Weiss Ratings reissued a “hold (c+)” rating on shares of DNOW in a research report on Wednesday, October 8th. Zacks Research cut DNOW from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Stifel Nicolaus decreased their price objective on DNOW from $19.00 to $18.00 and set a “buy” rating for the company in a report on Monday, July 21st. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, DNOW presently has a consensus rating of “Hold” and an average target price of $18.00.

DNOW Trading Down 0.8%

Shares of NYSE:DNOW opened at $12.47 on Friday. DNOW Inc. has a 12-month low of $12.34 and a 12-month high of $18.45. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 14.33 and a beta of 1.01. The stock has a fifty day simple moving average of $14.75 and a two-hundred day simple moving average of $14.94.

DNOW (NYSE:DNOW) last posted its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. DNOW had a return on equity of 9.35% and a net margin of 3.91%.The firm had revenue of $634.00 million during the quarter, compared to analyst estimates of $637.13 million. During the same quarter in the previous year, the firm earned $0.21 EPS. DNOW’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, equities research analysts predict that DNOW Inc. will post 0.86 EPS for the current year.

About DNOW

DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as artificial lift systems, coatings, and miscellaneous expendable items.