DNOW Inc. (NYSE:DNOW) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its stake in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 28.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 94,100 shares of the oil and gas company's stock after buying an additional 20,784 shares during the period. Hsbc Holdings PLC owned about 0.09% of DNOW worth $1,229,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in 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 in the last quarter. KBC Group NV grew its position in DNOW by 72.4% in the fourth 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. Polymer Capital Management US LLC acquired a new position in shares of DNOW during the 4th quarter worth $192,000. Pictet Asset Management Holding SA boosted its holdings in 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 purchasing an additional 2,947 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of DNOW during the 4th quarter valued at about $221,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DNOW has been the topic of a number of research analyst reports. StockNews.com upgraded shares of DNOW from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Stifel Nicolaus decreased their price objective on DNOW from $20.00 to $17.00 and set a "buy" rating for the company in a report on Thursday. Finally, Susquehanna dropped their target price on DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, April 14th.

DNOW Stock Down 4.6 %

Shares of NYSE:DNOW traded down $0.68 during midday trading on Thursday, reaching $13.98. The company's stock had a trading volume of 312,312 shares, compared to its average volume of 930,019. The stock has a fifty day moving average of $15.70 and a 200 day moving average of $14.71. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45. The firm has a market capitalization of $1.48 billion, a PE ratio of 19.15 and a beta of 1.20.

DNOW (NYSE:DNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.22 EPS 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 business had revenue of $599.00 million for the quarter, compared to analysts' expectations of $587.17 million. During the same quarter last year, the company earned $0.21 EPS. The business's revenue was up 6.4% on a year-over-year basis. Sell-side analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

DNOW announced that its Board of Directors has initiated a stock repurchase program on Friday, January 24th that allows the company to buyback $160.00 million in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback programs are generally an indication 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.