D. E. Shaw & Co. Inc. trimmed its position in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,444,872 shares of the oil and gas company's stock after selling 78,673 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 1.37% of DNOW worth $18,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in DNOW. Barclays PLC boosted its holdings in DNOW by 44.6% in the third quarter. Barclays PLC now owns 346,657 shares of the oil and gas company's stock worth $4,484,000 after purchasing an additional 106,927 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of DNOW by 0.6% in the third quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company's stock worth $2,761,000 after buying an additional 1,278 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of DNOW by 5.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 84,710 shares of the oil and gas company's stock worth $1,102,000 after acquiring an additional 4,456 shares in the last quarter. KBC Group NV increased its holdings in shares of DNOW by 72.4% during the 4th 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 last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of DNOW by 9.4% in the 4th quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company's stock valued at $82,063,000 after acquiring an additional 543,403 shares in the last quarter. Institutional investors own 97.63% of the company's stock.
Analyst Ratings Changes
DNOW has been the subject of a number of recent analyst reports. StockNews.com raised DNOW from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Susquehanna lowered their target price on shares of DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Stifel Nicolaus dropped their target price on shares of DNOW from $20.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, May 8th.
Check Out Our Latest Analysis on DNOW
DNOW Stock Performance
NYSE DNOW opened at $15.14 on Tuesday. The stock has a market capitalization of $1.60 billion, a PE ratio of 20.74 and a beta of 1.20. The stock has a 50-day simple moving average of $15.68 and a 200 day simple moving average of $14.79. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45.
DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $587.17 million. During the same period in the prior year, the business earned $0.21 earnings per share. DNOW's revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities research analysts forecast that DNOW Inc. will post 0.86 EPS for the current fiscal year.
DNOW declared that its Board of Directors has approved a share buyback plan on Friday, January 24th that authorizes the company to buyback $160.00 million in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.
DNOW Company Profile
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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.
Further Reading
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