Integrated Wealth Concepts LLC Purchases Shares of 234,857 DNOW Inc. (NYSE:DNOW)

Integrated Wealth Concepts LLC acquired a new position in shares of DNOW Inc. (NYSE:DNOW - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 234,857 shares of the oil and gas company's stock, valued at approximately $3,055,000. Integrated Wealth Concepts LLC owned 0.22% of DNOW as of its most recent filing with the Securities & Exchange Commission.

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

DNOW Trading Down 2.8 %

DNOW stock traded down $0.46 during trading on Wednesday, hitting $15.87. The company had a trading volume of 1,358,204 shares, compared to its average volume of 923,599. The company's 50 day simple moving average is $15.76 and its 200-day simple moving average is $14.59. DNOW Inc. has a 1-year low of $11.42 and a 1-year high of $18.45. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 21.74 and a beta of 1.21.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.14. DNOW had a return on equity of 9.04% and a net margin of 3.41%. As a group, analysts forecast that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DNOW. Stifel Nicolaus boosted their price target on shares of DNOW from $17.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Susquehanna reduced their price target on shares of DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, StockNews.com raised DNOW from a "hold" rating to a "buy" rating in a research note on Saturday.

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.