Sherbrooke Park Advisers LLC Invests $386,000 in DNOW Inc. (NYSE:DNOW)

Sherbrooke Park Advisers LLC acquired a new position in DNOW Inc. (NYSE:DNOW - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 29,673 shares of the oil and gas company's stock, valued at approximately $386,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. ProShare Advisors LLC increased its holdings in DNOW by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 31,791 shares of the oil and gas company's stock valued at $414,000 after acquiring an additional 9,769 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in shares of DNOW in the fourth quarter valued at approximately $166,000. Man Group plc purchased a new position in shares of DNOW during the 4th quarter worth approximately $203,000. Nuveen Asset Management LLC raised its position in shares of DNOW by 0.6% during the 4th quarter. Nuveen Asset Management LLC now owns 934,375 shares of the oil and gas company's stock worth $12,156,000 after purchasing an additional 5,578 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of DNOW by 145.4% during the 4th quarter. Millennium Management LLC now owns 520,695 shares of the oil and gas company's stock worth $6,774,000 after purchasing an additional 308,543 shares during the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DNOW. Susquehanna lowered 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. Stifel Nicolaus reduced their price objective 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, Wall Street Zen upgraded DNOW from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th.

DNOW Stock Down 0.1%

Shares of NYSE:DNOW traded down $0.02 during trading on Friday, reaching $14.58. The stock had a trading volume of 87,781 shares, compared to its average volume of 1,107,632. The stock has a market cap of $1.54 billion, a P/E ratio of 19.96 and a beta of 1.20. The business has a fifty day moving average price of $15.71 and a 200-day moving average price of $14.95. DNOW Inc. has a fifty-two week low of $11.42 and a fifty-two week high of $18.45.

DNOW (NYSE:DNOW - Get Free Report) last issued its quarterly earnings results 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 the consensus estimate of $587.17 million. During the same period in the previous year, the firm posted $0.21 EPS. DNOW's revenue was up 6.4% on a year-over-year basis. As a group, equities analysts forecast that DNOW Inc. will post 0.86 EPS for the current year.

DNOW declared that its board has approved a stock buyback plan 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 purchase up to 10% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

DNOW 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.