16,963 Shares in DNOW Inc. (NYSE:DNOW) Acquired by WINTON GROUP Ltd

WINTON GROUP Ltd acquired a new stake in DNOW Inc. (NYSE:DNOW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,963 shares of the oil and gas company's stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Pacer Advisors Inc. grew its holdings in DNOW by 9.4% during 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 purchasing an additional 543,403 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of DNOW during the fourth quarter valued at about $3,903,000. Weiss Asset Management LP purchased a new stake in shares of DNOW during the third quarter worth about $2,025,000. Barclays PLC lifted its stake in shares of DNOW by 44.6% in the third quarter. Barclays PLC now owns 346,657 shares of the oil and gas company's stock worth $4,484,000 after acquiring an additional 106,927 shares in the last quarter. Finally, Royce & Associates LP lifted its stake in shares of DNOW by 15.1% in the fourth quarter. Royce & Associates LP now owns 705,407 shares of the oil and gas company's stock worth $9,177,000 after acquiring an additional 92,769 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Stifel Nicolaus lifted their price objective on DNOW from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, February 14th. StockNews.com raised shares of DNOW from a "hold" rating to a "buy" rating in a report on Thursday, February 27th.

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DNOW Stock Performance

Shares of DNOW stock traded down $1.23 during trading on Friday, hitting $14.81. 1,700,981 shares of the stock were exchanged, compared to its average volume of 892,746. The stock's fifty day moving average is $15.78 and its 200 day moving average is $14.24. The stock has a market cap of $1.57 billion, a PE ratio of 20.29 and a beta of 1.21. 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 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%. Sell-side analysts anticipate that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW declared that its Board of Directors has initiated a share buyback plan on Friday, January 24th that authorizes the company to repurchase $160.00 million in shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

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.