AQR Capital Management LLC Sells 54,615 Shares of DNOW Inc. (NYSE:DNOW)

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

Several other large investors also recently modified their holdings of DNOW. Smartleaf Asset Management LLC raised its stake in shares of DNOW by 78.7% in 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 purchasing an additional 885 shares in the last quarter. Quarry LP increased its stake 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 acquiring an additional 2,281 shares during the period. KBC Group NV increased its stake 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 acquiring an additional 2,754 shares during the period. Polymer Capital Management US LLC acquired a new position in shares of DNOW during the fourth quarter valued at approximately $192,000. Finally, Pictet Asset Management Holding SA boosted its holdings in DNOW by 23.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 15,760 shares of the oil and gas company's stock worth $205,000 after buying an additional 2,947 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Stock Performance

Shares of NYSE DNOW traded up $0.54 during trading on Tuesday, reaching $15.68. The company had a trading volume of 177,459 shares, compared to its average volume of 934,318. DNOW Inc. has a 52 week low of $11.42 and a 52 week high of $18.45. The stock has a market cap of $1.66 billion, a PE ratio of 21.48 and a beta of 1.20. The business's 50 day moving average price is $15.68 and its 200-day moving average price is $14.81.

DNOW (NYSE:DNOW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $587.17 million. During the same period in the previous year, the firm posted $0.21 earnings per share. The company's revenue was up 6.4% on a year-over-year basis. Equities analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW declared that its Board of Directors has authorized a share buyback program 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 repurchase up to 10% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DNOW shares. Susquehanna decreased their price objective on shares of DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Stifel Nicolaus decreased 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. Finally, StockNews.com upgraded shares of DNOW from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th.

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.