DNOW Inc. (NYSE:DNOW) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP grew its position in DNOW Inc. (NYSE:DNOW - Free Report) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,197,167 shares of the oil and gas company's stock after purchasing an additional 15,869 shares during the period. First Trust Advisors LP owned approximately 2.08% of DNOW worth $28,585,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its position in DNOW by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company's stock worth $26,000 after buying an additional 885 shares during the last quarter. KBC Group NV lifted its position in DNOW by 72.4% during the fourth 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. Polymer Capital Management US LLC purchased a new stake in DNOW in the fourth quarter valued at $192,000. Pictet Asset Management Holding SA grew its position in DNOW by 23.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 15,760 shares of the oil and gas company's stock worth $205,000 after purchasing an additional 2,947 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in shares of DNOW during the 4th quarter valued at about $221,000. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

DNOW Stock Up 1.4 %

Shares of DNOW stock traded up $0.22 on Thursday, reaching $16.09. The company's stock had a trading volume of 145,916 shares, compared to its average volume of 921,851. The company has a market capitalization of $1.70 billion, a P/E ratio of 22.04 and a beta of 1.21. The stock has a 50-day moving average price of $15.76 and a 200-day moving average price of $14.59. 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 issued its quarterly earnings results on Thursday, February 13th. The oil and gas company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.11 by $0.14. DNOW had a net margin of 3.41% and a return on equity of 9.04%. 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 authorized a share buyback plan on Friday, January 24th that authorizes the company to repurchase $160.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently commented on DNOW. Stifel Nicolaus upped their target price on DNOW from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Susquehanna dropped their price objective 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, StockNews.com upgraded shares of DNOW from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th.

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.