Gotham Asset Management LLC Acquires New Shares in DNOW Inc. (NYSE:DNOW)

Gotham Asset Management LLC bought a new stake in DNOW Inc. (NYSE:DNOW - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 50,216 shares of the oil and gas company's stock, valued at approximately $653,000.

Several other large investors have also recently added to or reduced their stakes in DNOW. Charles Schwab Investment Management Inc. increased its position in shares of DNOW by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company's stock valued at $27,212,000 after purchasing an additional 25,402 shares during the period. Amundi increased its position in shares of DNOW by 186.4% during the 4th quarter. Amundi now owns 51,501 shares of the oil and gas company's stock valued at $667,000 after purchasing an additional 33,520 shares during the period. KBC Group NV increased its position 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 purchasing an additional 2,754 shares during the period. JPMorgan Chase & Co. increased its position in shares of DNOW by 6.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company's stock valued at $23,985,000 after purchasing an additional 112,135 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of DNOW during the 4th quarter valued at $2,887,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded DNOW from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Susquehanna decreased their target price on DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Stifel Nicolaus decreased their target price on DNOW from $20.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, May 8th.

DNOW Trading Down 0.2%

Shares of NYSE DNOW traded down $0.03 during mid-day trading on Friday, reaching $14.56. The company had a trading volume of 526,901 shares, compared to its average volume of 936,669. The stock has a market cap of $1.54 billion, a PE ratio of 19.95 and a beta of 1.20. The company has a 50-day moving average price of $15.70 and a two-hundred day moving average price of $14.98. DNOW Inc. has a 1-year low of $11.42 and a 1-year high of $18.45.

DNOW (NYSE:DNOW - Get Free Report) last issued its earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. The business had revenue of $599.00 million during the quarter, compared to analysts' expectations of $587.17 million. DNOW had a return on equity of 9.04% and a net margin of 3.41%. DNOW's revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 earnings per share. On average, research analysts expect that DNOW Inc. will post 0.86 EPS for the current year.

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