Barclays PLC Purchases 73,713 Shares of DNOW Inc. (NYSE:DNOW)

Barclays PLC raised its stake in DNOW Inc. (NYSE:DNOW - Free Report) by 21.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 420,370 shares of the oil and gas company's stock after purchasing an additional 73,713 shares during the period. Barclays PLC owned 0.40% of DNOW worth $5,469,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DNOW. Smartleaf Asset Management LLC grew its holdings 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 worth $26,000 after acquiring an additional 885 shares during the last quarter. KBC Group NV raised its holdings 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 buying an additional 2,754 shares during the period. Polymer Capital Management US LLC acquired a new position in shares of DNOW in the fourth quarter worth about $192,000. Pictet Asset Management Holding SA increased its position in shares of DNOW by 23.0% in 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 acquiring an additional 2,947 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of DNOW during the fourth quarter valued at approximately $221,000. Institutional investors and hedge funds own 97.63% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Susquehanna lowered their price objective on shares of DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. StockNews.com raised DNOW from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Finally, Stifel Nicolaus lifted their target price on DNOW from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, February 14th.

DNOW Stock Up 1.6 %

Shares of DNOW stock traded up $0.26 on Thursday, hitting $16.13. 119,410 shares of the company traded hands, compared to its average volume of 921,674. DNOW Inc. has a 12-month low of $11.42 and a 12-month high of $18.45. The company has a 50-day moving average price of $15.76 and a 200 day moving average price of $14.59. The company has a market cap of $1.70 billion, a PE ratio of 22.16 and a beta of 1.21.

DNOW (NYSE:DNOW - Get Free Report) last issued its earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.14. DNOW had a return on equity of 9.04% and a net margin of 3.41%. Equities research analysts anticipate that DNOW Inc. will post 0.86 EPS for the current year.

DNOW announced that its board has authorized a stock 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 purchase up to 10% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board 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.