221,882 Shares in DNOW Inc. (NYSE:DNOW) Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC acquired a new stake in shares of DNOW Inc. (NYSE:DNOW - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 221,882 shares of the oil and gas company's stock, valued at approximately $2,887,000. Cubist Systematic Strategies LLC owned about 0.21% of DNOW as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in DNOW. Barclays PLC boosted its stake in shares of DNOW by 44.6% in the 3rd quarter. Barclays PLC now owns 346,657 shares of the oil and gas company's stock valued at $4,484,000 after purchasing an additional 106,927 shares in the last quarter. Franklin Resources Inc. grew its stake in DNOW by 0.6% during the third quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company's stock worth $2,761,000 after buying an additional 1,278 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of DNOW by 1.4% during the fourth quarter. Nordea Investment Management AB now owns 327,246 shares of the oil and gas company's stock worth $4,257,000 after buying an additional 4,582 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of DNOW by 5.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 84,710 shares of the oil and gas company's stock valued at $1,102,000 after acquiring an additional 4,456 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of DNOW by 72.4% in 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. Institutional investors own 97.63% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of DNOW from $20.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Susquehanna cut their target price on DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, StockNews.com upgraded DNOW from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th.

DNOW Stock Performance

DNOW stock traded down $0.24 during midday trading on Thursday, hitting $15.35. 1,307,540 shares of the company's stock were exchanged, compared to its average volume of 935,315. DNOW Inc. has a one year low of $11.42 and a one year high of $18.45. The company has a market cap of $1.62 billion, a PE ratio of 21.03 and a beta of 1.20. The stock's fifty day moving average price is $15.70 and its 200-day moving average price is $14.82.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. DNOW had a net margin of 3.41% and a return on equity of 9.04%. The company had revenue of $599.00 million for the quarter, compared to the consensus estimate of $587.17 million. During the same period last year, the company earned $0.21 earnings per share. The firm's revenue was up 6.4% compared to the same quarter last year. On average, analysts expect that DNOW Inc. will post 0.86 EPS for the current year.

DNOW declared that its Board of Directors has approved a stock repurchase plan on Friday, January 24th that permits the company to buyback $160.00 million in shares. This buyback authorization permits the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

DNOW 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.