D. E. Shaw & Co. Inc. Lowers Holdings in DNOW Inc. (NYSE:DNOW)

D. E. Shaw & Co. Inc. trimmed its holdings in DNOW Inc. (NYSE:DNOW - Free Report) by 5.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor 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 about 1.37% of DNOW worth $18,798,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DNOW. Barclays PLC increased its holdings in DNOW by 44.6% in the 3rd quarter. Barclays PLC now owns 346,657 shares of the oil and gas company's stock worth $4,484,000 after buying an additional 106,927 shares in the last quarter. Franklin Resources Inc. increased its holdings in DNOW by 0.6% in the 3rd 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 in the last quarter. Exchange Traded Concepts LLC increased its holdings in DNOW by 5.6% in 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 buying an additional 4,456 shares in the last quarter. KBC Group NV increased its holdings in DNOW by 72.4% in 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 in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in 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 worth $82,063,000 after buying an additional 543,403 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on DNOW shares. Susquehanna dropped their target price on DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus dropped their target price on 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 raised DNOW from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th.

DNOW Stock Down 0.4%

NYSE:DNOW traded down $0.06 on Friday, hitting $15.28. The stock had a trading volume of 614,386 shares, compared to its average volume of 936,287. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 20.93 and a beta of 1.20. The business's 50-day simple moving average is $15.71 and its two-hundred day simple moving average is $14.91. DNOW Inc. has a 52-week low of $11.42 and a 52-week high of $18.45.

DNOW (NYSE:DNOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. The company had revenue of $599.00 million during the quarter, compared to the consensus estimate of $587.17 million. DNOW had a return on equity of 9.04% and a net margin of 3.41%. The firm's revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 EPS. As a group, equities research analysts anticipate 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 buyback $160.00 million in shares. This buyback authorization authorizes the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

DNOW Company 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.