AQR Capital Management LLC Decreases Stock Holdings in DNOW Inc. (NYSE:DNOW)

AQR Capital Management LLC cut its holdings in DNOW Inc. (NYSE:DNOW - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 548,172 shares of the oil and gas company's stock after selling 54,615 shares during the quarter. AQR Capital Management LLC owned 0.52% of DNOW worth $7,132,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its position in shares of DNOW by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 885 shares during the period. Quarry LP raised its holdings in shares of DNOW by 69.2% during the fourth quarter. Quarry LP now owns 5,578 shares of the oil and gas company's stock valued at $73,000 after purchasing an additional 2,281 shares during the period. KBC Group NV raised its holdings in shares of DNOW by 72.4% during the fourth quarter. KBC Group NV now owns 6,560 shares of the oil and gas company's stock valued at $85,000 after purchasing an additional 2,754 shares during the period. Polymer Capital Management US LLC bought a new position in shares of DNOW during the 4th quarter worth about $192,000. Finally, Pictet Asset Management Holding SA grew its stake in shares of DNOW by 23.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 15,760 shares of the oil and gas company's stock valued at $205,000 after buying an additional 2,947 shares during the period. 97.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DNOW. Stifel Nicolaus dropped their price target on DNOW from $20.00 to $17.00 and set a "buy" rating on the stock in a research note on Thursday. StockNews.com raised DNOW from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Finally, Susquehanna reduced their price target on shares of DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, April 14th.

DNOW Trading Up 0.4 %

Shares of DNOW traded up $0.06 on Friday, reaching $14.60. The company's stock had a trading volume of 1,280,933 shares, compared to its average volume of 935,976. The stock has a market capitalization of $1.54 billion, a PE ratio of 20.00 and a beta of 1.20. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45. The firm has a fifty day moving average of $15.68 and a 200-day moving average of $14.77.

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

DNOW announced that its board has initiated a stock buyback program 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 buy up to 10% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is 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.