Empowered Funds LLC lifted its position in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 563,089 shares of the oil and gas company's stock after purchasing an additional 27,429 shares during the quarter. Empowered Funds LLC owned about 0.53% of DNOW worth $7,326,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. KBC Group NV raised its stake in DNOW by 45.5% during the third quarter. KBC Group NV now owns 3,806 shares of the oil and gas company's stock valued at $49,000 after buying an additional 1,190 shares during the last quarter. nVerses Capital LLC purchased a new position in DNOW during the third quarter valued at $78,000. GW Henssler & Associates Ltd. purchased a new position in DNOW during the third quarter valued at $182,000. Coldstream Capital Management Inc. raised its stake in shares of 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 purchasing an additional 1,291 shares during the last quarter. Finally, Prospera Financial Services Inc purchased a new position in shares of DNOW in the third quarter worth $187,000. 97.63% of the stock is currently owned by institutional investors.
Insider Buying and Selling at DNOW
In other news, Director Paul M. Coppinger sold 26,186 shares of the company's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $15.35, for a total value of $401,955.10. Following the completion of the transaction, the director now owns 56,568 shares of the company's stock, valued at $868,318.80. This represents a 31.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by corporate insiders.
DNOW Stock Performance
Shares of DNOW stock traded up $0.19 during mid-day trading on Friday, hitting $17.17. The company's stock had a trading volume of 1,590,380 shares, compared to its average volume of 1,090,899. DNOW Inc. has a 52-week low of $10.75 and a 52-week high of $18.45. The business has a 50-day moving average price of $13.97 and a 200 day moving average price of $13.45. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 9.18 and a beta of 1.53.
DNOW (NYSE:DNOW - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.11 by $0.14. DNOW had a return on equity of 8.90% and a net margin of 8.70%. Equities research analysts predict that DNOW Inc. will post 0.81 EPS for the current fiscal year.
DNOW announced that its board has approved a share repurchase program on Friday, January 24th that permits the company to repurchase $160.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.
Analyst Ratings Changes
Separately, Stifel Nicolaus boosted their price target on DNOW from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday.
Get Our Latest Stock Analysis on DNOW
DNOW 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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