SeaBridge Investment Advisors LLC Has $737,000 Stock Position in DNOW Inc. (NYSE:DNOW)

SeaBridge Investment Advisors LLC lowered its position in shares of DNOW Inc. (NYSE:DNOW) by 41.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,506 shares of the oil and gas company’s stock after selling 34,684 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in DNOW were worth $737,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Cornerstone Investment Partners LLC acquired a new stake in DNOW in the 1st quarter valued at about $176,000. Polaris Capital Management LLC increased its position in DNOW by 32.1% in the 1st quarter. Polaris Capital Management LLC now owns 101,700 shares of the oil and gas company’s stock valued at $1,546,000 after acquiring an additional 24,700 shares in the last quarter. Denali Advisors LLC acquired a new stake in DNOW in the 1st quarter valued at about $1,409,000. Quadrature Capital Ltd acquired a new stake in DNOW in the 4th quarter valued at about $212,000. Finally, Wellington Management Group LLP increased its position in DNOW by 14.5% in the 4th quarter. Wellington Management Group LLP now owns 926,412 shares of the oil and gas company’s stock valued at $10,487,000 after acquiring an additional 117,612 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DNOW. Susquehanna lowered their price objective on shares of DNOW from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Stifel Nicolaus raised their target price on shares of DNOW from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, March 28th.

DNOW Price Performance

Shares of NYSE DNOW traded down $0.70 during mid-day trading on Friday, hitting $12.83. The company’s stock had a trading volume of 632,347 shares, compared to its average volume of 1,019,366. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 5.91 and a beta of 1.45. DNOW Inc. has a one year low of $9.44 and a one year high of $15.57. The company’s fifty day simple moving average is $13.84 and its 200-day simple moving average is $13.04.

DNOW (NYSE:DNOW) last issued its earnings results on Friday, May 10th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). The business had revenue of $563.00 million during the quarter, compared to the consensus estimate of $569.15 million. DNOW had a net margin of 10.30% and a return on equity of 10.39%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.25 EPS. On average, sell-side analysts predict that DNOW Inc. will post 1.06 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.