DNOW Inc. (NYSE:DNOW) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 4.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 329,560 shares of the oil and gas company's stock after selling 16,291 shares during the quarter. Rhumbline Advisers owned 0.31% of DNOW worth $4,288,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DNOW. Pacer Advisors Inc. grew its position in shares of 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 worth $82,063,000 after purchasing an additional 543,403 shares in the last quarter. Global Alpha Capital Management Ltd. boosted its stake in DNOW by 1.9% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 2,622,426 shares of the oil and gas company's stock worth $33,908,000 after purchasing an additional 48,900 shares during the period. JPMorgan Chase & Co. grew its holdings in DNOW by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,731,485 shares of the oil and gas company's stock valued at $22,388,000 after buying an additional 54,660 shares in the last quarter. Wellington Management Group LLP raised its position in shares of DNOW by 0.8% during the third quarter. Wellington Management Group LLP now owns 1,138,287 shares of the oil and gas company's stock valued at $14,718,000 after buying an additional 8,675 shares during the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of DNOW by 10.2% in the third quarter. Royce & Associates LP now owns 612,638 shares of the oil and gas company's stock worth $7,921,000 after buying an additional 56,787 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

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DNOW Stock Up 0.0 %

Shares of DNOW stock traded up $0.01 on Tuesday, hitting $15.12. The stock had a trading volume of 433,552 shares, compared to its average volume of 865,326. DNOW Inc. has a one year low of $11.42 and a one year high of $18.45. The business has a 50 day moving average price of $14.55 and a 200 day moving average price of $13.68. The company has a market cap of $1.60 billion, a PE ratio of 20.71 and a beta of 1.53.

DNOW (NYSE:DNOW - Get Free Report) last announced its quarterly 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 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 year.

DNOW declared that its Board of Directors has initiated a share repurchase program on Friday, January 24th that allows the company to buyback $160.00 million in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of DNOW from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. StockNews.com raised DNOW from a "hold" rating to a "buy" rating in a report on Thursday, February 27th.

About DNOW

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.