MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in DNOW Inc. (NYSE:DNOW - Free Report) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,387,769 shares of the oil and gas company's stock after purchasing an additional 128,252 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 2.26% of DNOW worth $31,065,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of the business. Pacer Advisors Inc. boosted its position in DNOW by 9.4% in the fourth quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company's stock worth $82,063,000 after purchasing an additional 543,403 shares during the last quarter. Cooper Creek Partners Management LLC increased its holdings in DNOW by 138.7% in the 4th quarter. Cooper Creek Partners Management LLC now owns 579,074 shares of the oil and gas company's stock worth $7,534,000 after buying an additional 336,474 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of DNOW during the 4th quarter worth approximately $3,903,000. Norges Bank acquired a new stake in DNOW in the 4th quarter valued at $3,856,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in DNOW during the 4th quarter worth $3,055,000. 97.63% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on DNOW shares. Susquehanna dropped their price target on DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus cut their target price on DNOW from $20.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Finally, StockNews.com raised shares of DNOW from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th.
Check Out Our Latest Analysis on DNOW
DNOW Stock Down 0.9%
NYSE:DNOW traded down $0.14 during trading hours on Monday, hitting $15.13. 103,337 shares of the company traded hands, compared to its average volume of 933,008. The company has a market cap of $1.60 billion, a PE ratio of 20.74 and a beta of 1.20. DNOW Inc. has a one year low of $11.42 and a one year high of $18.45. The firm's 50-day simple moving average is $15.71 and its 200-day simple moving average is $14.91.
DNOW (NYSE:DNOW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 EPS 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 during the quarter, compared to the consensus estimate of $587.17 million. During the same quarter in the prior year, the company earned $0.21 earnings per share. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities research analysts expect that DNOW Inc. will post 0.86 EPS for the current year.
DNOW declared that its Board of Directors has initiated a share buyback plan 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.
About DNOW
(
Free Report)
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.
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