Cooper Creek Partners Management LLC Acquires 336,474 Shares of DNOW Inc. (NYSE:DNOW)

Cooper Creek Partners Management LLC grew its position in DNOW Inc. (NYSE:DNOW - Free Report) by 138.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 579,074 shares of the oil and gas company's stock after purchasing an additional 336,474 shares during the quarter. Cooper Creek Partners Management LLC owned approximately 0.55% of DNOW worth $7,534,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Pacer Advisors Inc. raised its stake 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 worth $82,063,000 after buying an additional 543,403 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of DNOW in the 4th quarter valued at $3,903,000. Norges Bank purchased a new stake in DNOW during the 4th quarter worth $3,856,000. Brandywine Global Investment Management LLC acquired a new stake in shares of DNOW during the fourth quarter worth approximately $2,766,000. Finally, JPMorgan Chase & Co. increased its stake in DNOW by 6.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company's stock valued at $23,985,000 after purchasing an additional 112,135 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Stock Up 0.9 %

DNOW stock traded up $0.14 on Tuesday, hitting $15.37. The company's stock had a trading volume of 1,339,651 shares, compared to its average volume of 902,336. DNOW Inc. has a one year low of $11.42 and a one year high of $18.45. The firm has a market cap of $1.62 billion, a P/E ratio of 21.05 and a beta of 1.21. The company has a fifty day moving average price of $15.80 and a 200-day moving average price of $14.37.

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DNOW (NYSE:DNOW - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that DNOW Inc. will post 0.86 EPS for the current year.

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

Analyst Ratings Changes

A number of research analysts have recently commented on DNOW shares. Susquehanna lowered their price target on DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday. Stifel Nicolaus raised their price target on DNOW from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Finally, StockNews.com upgraded DNOW from a "hold" rating to a "buy" rating in a research note 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.