Trexquant Investment LP raised its stake in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 187,781 shares of the oil and gas company's stock after acquiring an additional 18,762 shares during the period. Trexquant Investment LP owned approximately 0.18% of DNOW worth $2,443,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its position in 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 purchasing an additional 25,402 shares during the period. Amundi raised its holdings in shares of DNOW by 186.4% in the 4th quarter. Amundi now owns 51,501 shares of the oil and gas company's stock valued at $667,000 after buying an additional 33,520 shares during the period. KBC Group NV lifted its stake in DNOW by 72.4% during the 4th quarter. KBC Group NV now owns 6,560 shares of the oil and gas company's stock worth $85,000 after acquiring an additional 2,754 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in DNOW by 6.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company's stock valued at $23,985,000 after acquiring an additional 112,135 shares during the period. Finally, Pacer Advisors Inc. grew its position in DNOW by 9.4% in the 4th quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company's stock valued at $82,063,000 after acquiring an additional 543,403 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. StockNews.com raised shares of DNOW from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th. Stifel Nicolaus upped 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 Report on DNOW
DNOW Price Performance
Shares of DNOW stock traded up $0.28 on Friday, reaching $15.37. 723,314 shares of the company were exchanged, compared to its average volume of 900,767. The stock's 50 day moving average price is $15.77 and its 200-day moving average price is $14.33. The company has a market cap of $1.62 billion, a P/E ratio of 21.05 and a beta of 1.21. DNOW Inc. has a 1-year low of $11.42 and a 1-year 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%. On average, research analysts predict that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.
DNOW announced that its Board of Directors has initiated a share buyback program on Friday, January 24th that allows the company to buyback $160.00 million in shares. This buyback authorization allows the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
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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