Graham Capital Management L.P. Boosts Stake in DNOW Inc. (NYSE:DNOW)

Graham Capital Management L.P. lifted its position in DNOW Inc. (NYSE:DNOW - Free Report) by 578.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 76,072 shares of the oil and gas company's stock after buying an additional 64,860 shares during the quarter. Graham Capital Management L.P. owned approximately 0.07% of DNOW worth $990,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DNOW. Smartleaf Asset Management LLC grew its stake 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 purchasing an additional 885 shares in the last quarter. Quarry LP grew its stake in DNOW by 69.2% during the 4th quarter. Quarry LP now owns 5,578 shares of the oil and gas company's stock worth $73,000 after purchasing an additional 2,281 shares in the last quarter. KBC Group NV grew its stake in DNOW by 72.4% during the 4th quarter. KBC Group NV now owns 6,560 shares of the oil and gas company's stock worth $85,000 after purchasing an additional 2,754 shares in the last quarter. Polymer Capital Management US LLC acquired a new position in DNOW during the 4th quarter worth $192,000. Finally, Pictet Asset Management Holding SA grew its stake 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 in the last quarter. Hedge funds and other institutional investors own 97.63% of the company's stock.

DNOW Stock Performance

Shares of NYSE:DNOW traded down $0.06 on Friday, hitting $15.28. 614,386 shares of the company's stock were exchanged, compared to its average volume of 935,489. The firm's 50-day moving average is $15.71 and its 200 day moving average is $14.87. The company has a market capitalization of $1.61 billion, a PE ratio of 20.93 and a beta of 1.20. 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 released its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share (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%. The business's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS. On average, analysts anticipate that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW declared that its board has initiated a stock buyback program on Friday, January 24th that allows the company to buyback $160.00 million in shares. This buyback authorization allows the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Stifel Nicolaus lowered their target price on DNOW from $20.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. StockNews.com raised DNOW from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. Finally, Susquehanna lowered their target price on DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, April 14th.

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.