Brandywine Global Investment Management LLC bought a new position in DNOW Inc. (NYSE:DNOW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 212,607 shares of the oil and gas company's stock, valued at approximately $2,766,000. Brandywine Global Investment Management LLC owned about 0.20% of DNOW at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Amundi grew its holdings in DNOW by 186.4% during the 4th quarter. Amundi now owns 51,501 shares of the oil and gas company's stock valued at $667,000 after buying an additional 33,520 shares in the last quarter. KBC Group NV lifted its position in DNOW by 72.4% in the 4th quarter. KBC Group NV now owns 6,560 shares of the oil and gas company's stock worth $85,000 after buying an additional 2,754 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of DNOW by 1.2% in 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 in the last quarter. JPMorgan Chase & Co. boosted its position in DNOW by 3.3% during 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 period. Finally, Pacer Advisors Inc. boosted its holdings in 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 period. Hedge funds and other institutional investors own 97.63% of the company's stock.
DNOW Stock Performance
Shares of NYSE:DNOW traded down $0.41 during trading on Monday, reaching $14.37. 1,495,238 shares of the stock traded hands, compared to its average volume of 895,146. The stock has a market cap of $1.52 billion, a P/E ratio of 19.68 and a beta of 1.21. DNOW Inc. has a 52-week low of $11.42 and a 52-week high of $18.45. The stock has a 50-day moving average of $15.77 and a two-hundred day moving average of $14.26.
DNOW (NYSE:DNOW - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share 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%. Sell-side analysts expect that DNOW Inc. will post 0.86 earnings per share for the current year.
DNOW declared that its board has initiated a share repurchase program 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 programs are typically an indication that the company's management believes its stock is undervalued.
Analyst Upgrades and Downgrades
DNOW has been the topic of several recent analyst reports. StockNews.com raised DNOW from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th. Stifel Nicolaus upped their target price on shares of DNOW from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, February 14th.
View Our Latest Stock Report on DNOW
About DNOW
(
Free Report)
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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