PharVision Advisers LLC Makes New Investment in DNOW Inc. (NYSE:DNOW)

PharVision Advisers LLC bought a new position in shares of DNOW Inc. (NYSE:DNOW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,459 shares of the oil and gas company's stock, valued at approximately $279,000.

Several other institutional investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. raised its position in shares of 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 buying an additional 543,403 shares in the last quarter. Cooper Creek Partners Management LLC raised its position in shares of DNOW by 138.7% in the fourth 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 in the last quarter. Millennium Management LLC raised its holdings in shares of DNOW by 145.4% in the 4th quarter. Millennium Management LLC now owns 520,695 shares of the oil and gas company's stock valued at $6,774,000 after acquiring an additional 308,543 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of DNOW in the 4th quarter valued at about $3,903,000. Finally, Norges Bank purchased a new stake in shares of DNOW in the 4th quarter valued at about $3,856,000. Hedge funds and other institutional investors own 97.63% of the company's stock.

DNOW Stock Down 0.2%

Shares of NYSE DNOW traded down $0.03 during trading hours on Friday, reaching $14.56. 526,901 shares of the stock traded hands, compared to its average volume of 936,669. The company has a market capitalization of $1.54 billion, a P/E ratio of 19.95 and a beta of 1.20. DNOW Inc. has a 52-week low of $11.42 and a 52-week high of $18.45. The company's 50-day simple moving average is $15.70 and its two-hundred day simple moving average is $14.98.

DNOW (NYSE:DNOW - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $599.00 million for 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 company's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. As a group, sell-side analysts forecast that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

DNOW declared that its Board of Directors has approved a stock repurchase program on Friday, January 24th that permits the company to repurchase $160.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have weighed in on DNOW. Susquehanna lowered their price target on DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Wall Street Zen raised shares of DNOW from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Finally, Stifel Nicolaus lowered their price objective on shares of DNOW from $20.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th.

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.