Northern Trust Corp Has $15.95 Million Position in DNOW Inc. (NYSE:DNOW)

Northern Trust Corp increased its stake in DNOW Inc. (NYSE:DNOW - Free Report) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,225,767 shares of the oil and gas company's stock after acquiring an additional 98,437 shares during the period. Northern Trust Corp owned approximately 1.16% of DNOW worth $15,947,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DNOW. Pacer Advisors Inc. boosted its holdings in DNOW by 9.4% during 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 boosted its holdings in DNOW by 138.7% during 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. Raymond James Financial Inc. bought a new stake in DNOW during the fourth quarter worth approximately $3,903,000. Norges Bank bought a new stake in DNOW during the fourth quarter worth approximately $3,856,000. Finally, Integrated Wealth Concepts LLC bought a new stake in DNOW during the fourth quarter worth approximately $3,055,000. 97.63% of the stock is currently owned by institutional investors.

DNOW Stock Down 0.1%

Shares of NYSE:DNOW traded down $0.02 during trading on Tuesday, reaching $15.08. 19,625 shares of the company traded hands, compared to its average volume of 931,480. The firm has a fifty day simple moving average of $15.71 and a 200 day simple moving average of $14.94. The firm has a market cap of $1.59 billion, a P/E ratio of 20.66 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 issued its earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.03. The company had revenue of $599.00 million during the quarter, compared to analyst estimates of $587.17 million. DNOW had a net margin of 3.41% and a return on equity of 9.04%. The company's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. As a group, research analysts anticipate that DNOW Inc. will post 0.86 EPS for the current year.

DNOW announced that its Board of Directors has authorized a stock repurchase plan 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 repurchase up to 10% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

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.