Carrera Capital Advisors Acquires Shares of 87,981 DNOW Inc. (NYSE:DNOW)

Carrera Capital Advisors purchased a new stake in DNOW Inc. (NYSE:DNOW - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 87,981 shares of the oil and gas company's stock, valued at approximately $1,145,000. Carrera Capital Advisors owned 0.08% of DNOW as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in DNOW by 78.7% in 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 acquiring an additional 885 shares during the period. KBC Group NV increased its position in DNOW by 45.5% in the 3rd quarter. KBC Group NV now owns 3,806 shares of the oil and gas company's stock valued at $49,000 after acquiring an additional 1,190 shares during the period. Coldstream Capital Management Inc. increased its position in DNOW by 10.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company's stock valued at $182,000 after acquiring an additional 1,291 shares during the period. Prospera Financial Services Inc acquired a new position in DNOW in the 3rd quarter valued at approximately $187,000. Finally, HighTower Advisors LLC increased its position in DNOW by 9.7% in the 3rd quarter. HighTower Advisors LLC now owns 16,541 shares of the oil and gas company's stock valued at $211,000 after acquiring an additional 1,458 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DNOW. Stifel Nicolaus upped their price target 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 upgraded shares of DNOW from a "hold" rating to a "buy" rating in a research report on Thursday, February 27th.

DNOW Price Performance

Shares of DNOW traded up $0.24 during trading hours on Friday, hitting $15.30. 922,239 shares of the stock were exchanged, compared to its average volume of 865,919. DNOW Inc. has a fifty-two week low of $11.42 and a fifty-two week high of $18.45. The business has a 50-day moving average of $14.72 and a 200-day moving average of $13.74. The firm has a market capitalization of $1.62 billion, a P/E ratio of 20.95 and a beta of 1.51.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings data 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 net margin of 3.41% and a return on equity of 9.04%. As a group, analysts forecast that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

DNOW declared that its Board of Directors has initiated a stock buyback program on Friday, January 24th that authorizes the company to buyback $160.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership 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.