Assenagon Asset Management S.A. Has $1.55 Million Stake in DNOW Inc. (NYSE:DNOW)

Assenagon Asset Management S.A. reduced its holdings in DNOW Inc. (NYSE:DNOW - Free Report) by 59.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 119,107 shares of the oil and gas company's stock after selling 173,219 shares during the period. Assenagon Asset Management S.A. owned 0.11% of DNOW worth $1,550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in DNOW by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,446,637 shares of the oil and gas company's stock valued at $88,511,000 after purchasing an additional 390,671 shares during the last quarter. Global Alpha Capital Management Ltd. raised its stake in DNOW by 1.9% in the third quarter. Global Alpha Capital Management Ltd. now owns 2,622,426 shares of the oil and gas company's stock valued at $33,908,000 after buying an additional 48,900 shares during the period. JPMorgan Chase & Co. lifted its position in shares of DNOW by 3.3% in the third quarter. JPMorgan Chase & Co. now owns 1,731,485 shares of the oil and gas company's stock valued at $22,388,000 after buying an additional 54,660 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of DNOW by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,138,287 shares of the oil and gas company's stock worth $14,718,000 after acquiring an additional 8,675 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of DNOW by 21.9% during the 2nd quarter. AQR Capital Management LLC now owns 827,965 shares of the oil and gas company's stock worth $11,368,000 after acquiring an additional 148,549 shares during the last quarter. 97.63% of the stock is owned by institutional investors.

Insider Activity at DNOW

In other DNOW news, Director Paul M. Coppinger sold 26,186 shares of the firm's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total value of $401,955.10. Following the transaction, the director now directly owns 56,568 shares of the company's stock, valued at $868,318.80. This trade represents a 31.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

DNOW Price Performance

DNOW stock traded up $1.30 during trading hours on Friday, hitting $15.10. The company had a trading volume of 1,559,396 shares, compared to its average volume of 1,077,021. DNOW Inc. has a one year low of $9.44 and a one year high of $15.65. The firm has a market cap of $1.60 billion, a PE ratio of 8.07 and a beta of 1.53. The firm has a 50-day moving average of $13.95 and a 200 day moving average of $13.37.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $606.00 million for the quarter, compared to analysts' expectations of $614.92 million. DNOW had a return on equity of 8.90% and a net margin of 8.70%. The company's quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 EPS. As a group, research analysts expect that DNOW Inc. will post 0.81 earnings per share for the current year.

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

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.