KLP Kapitalforvaltning AS Takes Position in DNOW Inc. (NYSE:DNOW)

KLP Kapitalforvaltning AS acquired a new stake in DNOW Inc. (NYSE:DNOW - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 62,000 shares of the oil and gas company's stock, valued at approximately $807,000. KLP Kapitalforvaltning AS owned approximately 0.06% of DNOW as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC boosted its position in DNOW by 129.4% in the third quarter. Intech Investment Management LLC now owns 32,184 shares of the oil and gas company's stock valued at $416,000 after buying an additional 18,157 shares in the last quarter. Quantbot Technologies LP boosted its holdings in shares of DNOW by 159.8% during the 3rd quarter. Quantbot Technologies LP now owns 77,487 shares of the oil and gas company's stock valued at $1,002,000 after acquiring an additional 47,659 shares in the last quarter. Martingale Asset Management L P boosted its holdings in shares of DNOW by 17.8% during the 3rd quarter. Martingale Asset Management L P now owns 129,266 shares of the oil and gas company's stock valued at $1,671,000 after acquiring an additional 19,578 shares in the last quarter. Verition Fund Management LLC grew its position in DNOW by 181.9% during the 3rd quarter. Verition Fund Management LLC now owns 28,283 shares of the oil and gas company's stock worth $366,000 after acquiring an additional 18,251 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in DNOW by 9.7% in 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 in the last quarter. Institutional investors own 97.63% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have recently commented on DNOW. Stifel Nicolaus lifted their price target on DNOW from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, February 14th. StockNews.com upgraded shares of DNOW from a "hold" rating to a "buy" rating in a research report on Thursday, February 27th.

DNOW Price Performance

NYSE DNOW traded down $1.23 on Friday, reaching $14.81. The company had a trading volume of 1,700,981 shares, compared to its average volume of 892,746. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 20.29 and a beta of 1.21. DNOW Inc. has a fifty-two week low of $11.42 and a fifty-two week high of $18.45. The business has a 50 day moving average of $15.78 and a two-hundred day moving average of $14.24.

DNOW (NYSE:DNOW - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.14. DNOW had a return on equity of 9.04% and a net margin of 3.41%. As a group, research analysts predict that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

DNOW announced that its board has authorized a stock buyback program on Friday, January 24th that permits the company to buyback $160.00 million in shares. This buyback authorization permits the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

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.