Amundi Boosts Stock Holdings in DNOW Inc. (NYSE:DNOW)

Amundi increased its position in DNOW Inc. (NYSE:DNOW - Free Report) by 186.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,501 shares of the oil and gas company's stock after buying an additional 33,520 shares during the quarter. Amundi's holdings in DNOW were worth $667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in DNOW during the 4th quarter valued at approximately $3,903,000. Carrera Capital Advisors acquired a new stake in DNOW during the 4th quarter valued at approximately $1,145,000. Charles Schwab Investment Management Inc. increased its position in DNOW by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company's stock valued at $27,212,000 after purchasing an additional 25,402 shares during the period. Bailard Inc. acquired a new stake in DNOW during the 4th quarter valued at approximately $511,000. Finally, Smartleaf Asset Management LLC increased its position in DNOW by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company's stock valued at $26,000 after purchasing an additional 885 shares during the period. Institutional investors and hedge funds own 97.63% of the company's stock.

DNOW Stock Performance

Shares of DNOW stock traded down $0.30 on Friday, reaching $16.03. 5,758,217 shares of the company's stock were exchanged, compared to its average volume of 831,646. The company has a market capitalization of $1.69 billion, a P/E ratio of 21.96 and a beta of 1.51. DNOW Inc. has a 52 week low of $11.42 and a 52 week high of $18.45. The firm's 50-day moving average is $15.18 and its two-hundred day moving average is $13.92.

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DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.14. DNOW had a return on equity of 9.04% and a net margin of 3.41%. On average, analysts expect that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW declared that its board has initiated a share repurchase program on Friday, January 24th that allows the company to buyback $160.00 million in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DNOW shares. Stifel Nicolaus increased their target price on shares of DNOW from $17.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, February 14th. StockNews.com raised shares of DNOW from a "hold" rating to a "buy" rating in a research report on Thursday, February 27th.

DNOW Company Profile

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.