DNOW Inc. (NYSE:DNOW) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lessened its holdings in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 73.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,010 shares of the oil and gas company's stock after selling 49,145 shares during the quarter. Bank of Montreal Can's holdings in DNOW were worth $234,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in shares of 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. KBC Group NV grew its stake in shares of DNOW by 72.4% during the fourth quarter. KBC Group NV now owns 6,560 shares of the oil and gas company's stock valued at $85,000 after buying an additional 2,754 shares during the last quarter. Polymer Capital Management US LLC bought a new stake in DNOW in the 4th quarter worth $192,000. Pictet Asset Management Holding SA increased its stake in shares of DNOW by 23.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 15,760 shares of the oil and gas company's stock valued at $205,000 after buying an additional 2,947 shares during the period. Finally, HighTower Advisors LLC increased its position in shares of DNOW by 9.7% during the third quarter. HighTower Advisors LLC now owns 16,541 shares of the oil and gas company's stock valued at $211,000 after buying an additional 1,458 shares during the period. Hedge funds and other institutional investors own 97.63% of the company's stock.

Wall Street Analyst Weigh In

DNOW has been the subject of several recent analyst reports. StockNews.com raised shares of DNOW from a "hold" rating to a "buy" rating in a report on Saturday. Susquehanna decreased their price objective on shares of DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Stifel Nicolaus increased their price objective on DNOW from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, February 14th.

DNOW Stock Performance

Shares of NYSE:DNOW traded up $0.15 during midday trading on Friday, reaching $16.13. 587,636 shares of the company's stock traded hands, compared to its average volume of 922,186. DNOW Inc. has a 1 year low of $11.42 and a 1 year high of $18.45. The company has a market cap of $1.70 billion, a P/E ratio of 22.10 and a beta of 1.21. The company has a fifty day simple moving average of $15.81 and a two-hundred day simple moving average of $14.55.

DNOW (NYSE:DNOW - Get Free Report) last released its earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, topping 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, research analysts forecast that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW declared that its board has approved a stock repurchase plan on Friday, January 24th that allows the company to repurchase $160.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 10% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is 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.