DNOW Inc. (NYSE:DNOW) Shares Purchased by Royce & Associates LP

Royce & Associates LP raised its holdings in DNOW Inc. (NYSE:DNOW - Free Report) by 15.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 705,407 shares of the oil and gas company's stock after purchasing an additional 92,769 shares during the quarter. Royce & Associates LP owned 0.67% of DNOW worth $9,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in DNOW. Inspire Advisors LLC grew its stake in DNOW by 8.8% during the fourth quarter. Inspire Advisors LLC now owns 28,643 shares of the oil and gas company's stock valued at $373,000 after acquiring an additional 2,312 shares in the last quarter. Amundi grew its holdings in shares of DNOW by 186.4% during the 4th 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 last quarter. Raymond James Financial Inc. purchased a new stake in DNOW during the 4th quarter valued at about $3,903,000. Carrera Capital Advisors bought a new position in shares of DNOW in the fourth quarter worth approximately $1,145,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of DNOW by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company's stock valued at $27,212,000 after acquiring an additional 25,402 shares during the period. Institutional investors own 97.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DNOW. StockNews.com upgraded DNOW from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th. Stifel Nicolaus lifted 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.

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DNOW Price Performance

Shares of NYSE:DNOW traded down $0.30 during trading on Friday, reaching $16.03. 5,758,217 shares of the company were exchanged, compared to its average volume of 832,129. The business's fifty day simple moving average is $15.18 and its 200-day simple moving average is $13.91. The firm has a market capitalization of $1.69 billion, a PE ratio of 21.96 and a beta of 1.51. DNOW Inc. has a 12-month low of $11.42 and a 12-month high of $18.45.

DNOW (NYSE:DNOW - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (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%. On average, sell-side analysts anticipate that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW announced that its Board of Directors has authorized a share buyback plan on Friday, January 24th that permits the company to repurchase $160.00 million in shares. This repurchase authorization permits the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management 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.