Dynamic Technology Lab Private Ltd Sells 21,179 Shares of DNOW Inc. (NYSE:DNOW)

Dynamic Technology Lab Private Ltd decreased its stake in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 40.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,965 shares of the oil and gas company's stock after selling 21,179 shares during the period. Dynamic Technology Lab Private Ltd's holdings in DNOW were worth $403,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Pacer Advisors Inc. lifted its position in DNOW by 9.4% during the fourth quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company's stock valued at $82,063,000 after buying an additional 543,403 shares during the period. Raymond James Financial Inc. bought a new position in shares of DNOW in the 4th quarter worth about $3,903,000. Norges Bank purchased a new position in DNOW during the 4th quarter valued at about $3,856,000. Brandywine Global Investment Management LLC purchased a new position in DNOW during the 4th quarter valued at about $2,766,000. Finally, JPMorgan Chase & Co. boosted 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 worth $23,985,000 after acquiring an additional 112,135 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company's stock.

DNOW Trading Up 1.3 %

NYSE:DNOW traded up $0.21 on Tuesday, reaching $15.44. 159,534 shares of the stock traded hands, compared to its average volume of 898,604. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 21.14 and a beta of 1.21. DNOW Inc. has a 12 month low of $11.42 and a 12 month high of $18.45. The company's fifty day simple moving average is $15.78 and its 200 day simple moving average is $14.36.

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

DNOW declared that its board has authorized a stock buyback 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 buy up to 10% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

DNOW has been the subject of a number of analyst reports. StockNews.com raised shares of DNOW from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th. Susquehanna reduced their price objective on DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday. Finally, Stifel Nicolaus lifted their price objective on DNOW from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, February 14th.

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.