ExodusPoint Capital Management LP lessened its position in DNOW Inc. (NYSE:DNOW - Free Report) by 34.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 94,393 shares of the oil and gas company's stock after selling 48,825 shares during the quarter. ExodusPoint Capital Management LP owned 0.09% of DNOW worth $1,228,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in DNOW. Smartleaf Asset Management LLC boosted its holdings in shares of 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 worth $26,000 after purchasing an additional 885 shares in the last quarter. KBC Group NV boosted its stake in DNOW by 72.4% in the fourth 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 in the last quarter. Coldstream Capital Management Inc. boosted its stake in DNOW by 10.1% in the third quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company's stock worth $182,000 after buying an additional 1,291 shares in the last quarter. Pictet Asset Management Holding SA grew its position in DNOW by 23.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 15,760 shares of the oil and gas company's stock valued at $205,000 after acquiring an additional 2,947 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of DNOW by 9.7% during the third quarter. HighTower Advisors LLC now owns 16,541 shares of the oil and gas company's stock worth $211,000 after acquiring an additional 1,458 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company's stock.
DNOW Stock Performance
Shares of NYSE DNOW traded up $0.21 during mid-day trading on Tuesday, hitting $15.44. The stock had a trading volume of 159,534 shares, compared to its average volume of 898,604. The business has a 50 day moving average price of $15.78 and a two-hundred day moving average price of $14.36. DNOW Inc. has a 1 year low of $11.42 and a 1 year high of $18.45. The firm has a market cap of $1.63 billion, a P/E ratio of 21.14 and a beta of 1.21.
DNOW (NYSE:DNOW - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (EPS) 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%. Equities research analysts predict that DNOW Inc. will post 0.86 EPS for the current fiscal year.
DNOW announced that its board has authorized a stock repurchase program on Friday, January 24th that allows the company to repurchase $160.00 million in shares. This repurchase authorization allows the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on DNOW. StockNews.com raised shares of DNOW from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th. 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. Finally, Susquehanna decreased their price objective on DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday.
Get Our Latest Stock Analysis on DNOW
DNOW Company Profile
(
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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