Integrated Wealth Concepts LLC bought a new stake in shares of DNOW Inc. (NYSE:DNOW - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 234,857 shares of the oil and gas company's stock, valued at approximately $3,055,000. Integrated Wealth Concepts LLC owned about 0.22% of DNOW at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas boosted its stake in DNOW by 0.8% during the 4th quarter. Teacher Retirement System of Texas now owns 100,117 shares of the oil and gas company's stock valued at $1,303,000 after acquiring an additional 792 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of DNOW by 78.7% during the fourth 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 during the last quarter. Highland Capital Management LLC grew its stake in DNOW by 6.7% in the fourth quarter. Highland Capital Management LLC now owns 17,514 shares of the oil and gas company's stock worth $228,000 after purchasing an additional 1,097 shares in the last quarter. Franklin Resources Inc. increased its holdings in DNOW by 0.6% in the third quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company's stock valued at $2,761,000 after buying an additional 1,278 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in DNOW by 0.7% during the fourth quarter. Legal & General Group Plc now owns 305,467 shares of the oil and gas company's stock valued at $3,974,000 after buying an additional 2,132 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company's stock.
DNOW Trading Up 0.9 %
Shares of DNOW stock opened at $16.13 on Friday. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 22.10 and a beta of 1.21. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45. The business's 50 day simple moving average is $15.81 and its 200-day simple moving average is $14.53.
DNOW (NYSE:DNOW - Get Free Report) last issued its earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.14. DNOW had a return on equity of 9.04% and a net margin of 3.41%. Sell-side analysts predict that DNOW Inc. will post 0.86 earnings per share for the current year.
DNOW announced that its Board of Directors has authorized a stock buyback plan 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 purchase up to 10% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Stifel Nicolaus lifted their target price on DNOW from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Susquehanna decreased their price objective on shares of DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, StockNews.com raised shares of DNOW from a "hold" rating to a "buy" rating in a report on Saturday.
Read Our Latest Report on DNOW
About DNOW
(
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.
Further Reading
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