Bailard Inc. Purchases New Position in DNOW Inc. (NYSE:DNOW)

Bailard Inc. bought a new position in shares of DNOW Inc. (NYSE:DNOW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 39,305 shares of the oil and gas company's stock, valued at approximately $511,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in shares of DNOW by 9.4% during the 4th quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company's stock valued at $82,063,000 after acquiring an additional 543,403 shares during the last quarter. Foundry Partners LLC boosted its position in shares of DNOW by 832.0% during the 3rd quarter. Foundry Partners LLC now owns 365,795 shares of the oil and gas company's stock valued at $4,730,000 after acquiring an additional 326,547 shares during the last quarter. Weiss Asset Management LP acquired a new position in shares of DNOW during the 3rd quarter valued at about $2,025,000. Barclays PLC boosted its position in shares of DNOW by 44.6% during the 3rd quarter. Barclays PLC now owns 346,657 shares of the oil and gas company's stock valued at $4,484,000 after acquiring an additional 106,927 shares during the last quarter. Finally, Royce & Associates LP boosted its position in shares of DNOW by 10.2% during the 3rd quarter. Royce & Associates LP now owns 612,638 shares of the oil and gas company's stock valued at $7,921,000 after acquiring an additional 56,787 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company's stock.

DNOW Trading Up 1.6 %

NYSE DNOW traded up $0.24 during trading hours on Friday, reaching $15.30. The company had a trading volume of 922,239 shares, compared to its average volume of 865,919. The stock has a 50-day moving average of $14.72 and a 200 day moving average of $13.74. DNOW Inc. has a 1-year low of $11.42 and a 1-year high of $18.45. The stock has a market capitalization of $1.62 billion, a P/E ratio of 20.95 and a beta of 1.51.

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

DNOW announced that its Board of Directors has initiated a share buyback 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 usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have commented on DNOW shares. Stifel Nicolaus upped 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.