Barclays PLC Boosts Stock Position in DNOW Inc. (NYSE:DNOW)

Barclays PLC grew its holdings in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 21.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 420,370 shares of the oil and gas company's stock after buying an additional 73,713 shares during the period. Barclays PLC owned 0.40% of DNOW worth $5,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in DNOW. Smartleaf Asset Management LLC boosted its holdings in DNOW by 78.7% in the fourth 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 in the last quarter. KBC Group NV boosted its holdings in shares of DNOW by 72.4% in the 4th 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 in the last quarter. Polymer Capital Management US LLC purchased a new position in shares of DNOW in the 4th quarter valued at $192,000. Pictet Asset Management Holding SA raised its stake in DNOW by 23.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 15,760 shares of the oil and gas company's stock worth $205,000 after acquiring an additional 2,947 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in DNOW in the fourth quarter valued at $221,000. Hedge funds and other institutional investors own 97.63% of the company's stock.

DNOW Stock Up 0.9 %

DNOW opened at $16.13 on Friday. DNOW Inc. has a 52 week low of $11.42 and a 52 week high of $18.45. The business has a 50 day moving average price of $15.84 and a two-hundred day moving average price of $14.50. The company has a market cap of $1.70 billion, a PE ratio of 22.10 and a beta of 1.21.

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

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

Analyst Ratings Changes

Several analysts have recently weighed in on DNOW shares. Susquehanna reduced their target price on DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Stifel Nicolaus increased their price objective on DNOW from $17.00 to $20.00 and gave the company a "buy" rating in a report on Friday, February 14th. Finally, StockNews.com raised shares of DNOW from a "hold" rating to a "buy" rating in a report on Saturday.

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.

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