Quantbot Technologies LP reduced its position in DNOW Inc. (NYSE:DNOW - Free Report) by 60.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 30,307 shares of the oil and gas company's stock after selling 47,180 shares during the period. Quantbot Technologies LP's holdings in DNOW were worth $394,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its stake in DNOW by 0.8% in the fourth 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 buying an additional 792 shares during the last quarter. Intech Investment Management LLC raised its position in DNOW by 24.7% in the 4th quarter. Intech Investment Management LLC now owns 40,138 shares of the oil and gas company's stock valued at $522,000 after purchasing an additional 7,954 shares during the last quarter. Royce & Associates LP boosted its stake in DNOW by 15.1% during the 4th quarter. Royce & Associates LP now owns 705,407 shares of the oil and gas company's stock worth $9,177,000 after purchasing an additional 92,769 shares during the period. Inspire Advisors LLC grew its position in DNOW by 8.8% during the 4th quarter. Inspire Advisors LLC now owns 28,643 shares of the oil and gas company's stock worth $373,000 after purchasing an additional 2,312 shares during the last quarter. Finally, Amundi increased its stake in DNOW by 186.4% in the fourth quarter. Amundi now owns 51,501 shares of the oil and gas company's stock valued at $667,000 after purchasing an additional 33,520 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.
DNOW Stock Performance
DNOW stock traded up $0.01 during trading hours on Wednesday, reaching $17.30. 949,245 shares of the stock were exchanged, compared to its average volume of 887,959. The stock has a market cap of $1.83 billion, a P/E ratio of 23.70 and a beta of 1.51. The firm's 50 day moving average is $15.75 and its 200 day moving average is $14.20. DNOW Inc. has a 52-week low of $11.42 and a 52-week high of $18.45.
DNOW (NYSE:DNOW - Get Free Report) last announced its quarterly earnings data 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 research analysts expect that DNOW Inc. will post 0.86 EPS for the current fiscal year.
DNOW declared that its board has initiated 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 believes its stock is undervalued.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on DNOW shares. StockNews.com upgraded shares of DNOW from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th. Stifel Nicolaus increased their price objective on DNOW from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, February 14th.
Check Out Our Latest Analysis 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.
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