DNOW Inc. (NYSE:DNOW) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its stake in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 1,610.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,700 shares of the oil and gas company's stock after acquiring an additional 74,100 shares during the period. Canada Pension Plan Investment Board owned about 0.07% of DNOW worth $1,024,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in 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 acquiring an additional 885 shares in the last quarter. KBC Group NV grew its position in shares of DNOW by 72.4% in the fourth quarter. KBC Group NV now owns 6,560 shares of the oil and gas company's stock valued at $85,000 after purchasing an additional 2,754 shares during the last quarter. Polymer Capital Management US LLC acquired a new stake in shares of DNOW in the fourth quarter valued at approximately $192,000. Pictet Asset Management Holding SA increased its stake in shares of 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 purchasing an additional 2,947 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in shares of DNOW by 9.7% during the 3rd quarter. HighTower Advisors LLC now owns 16,541 shares of the oil and gas company's stock worth $211,000 after purchasing an additional 1,458 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DNOW shares. StockNews.com upgraded DNOW from a "hold" rating to a "buy" rating in a research report on Saturday. Susquehanna reduced their target price on shares of DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Stifel Nicolaus lifted their price target on shares of DNOW from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, February 14th.

DNOW Price Performance

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

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 (EPS) 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%. Sell-side analysts expect that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW announced that its Board of Directors has initiated a stock buyback plan on Friday, January 24th that authorizes the company to buyback $160.00 million in shares. This buyback authorization authorizes the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback plans are often a sign 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.