Schonfeld Strategic Advisors LLC acquired a new stake in shares of DNOW Inc. (NYSE:DNOW - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,770 shares of the oil and gas company's stock, valued at approximately $270,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DNOW. Pacer Advisors Inc. grew its holdings in DNOW by 9.4% in the 4th quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company's stock valued at $82,063,000 after buying an additional 543,403 shares during the last quarter. Cooper Creek Partners Management LLC grew its holdings in DNOW by 138.7% in the 4th quarter. Cooper Creek Partners Management LLC now owns 579,074 shares of the oil and gas company's stock valued at $7,534,000 after buying an additional 336,474 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in DNOW in the 4th quarter valued at approximately $3,903,000. Norges Bank acquired a new stake in DNOW in the 4th quarter valued at approximately $3,856,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in DNOW in the 4th quarter valued at approximately $3,055,000. Institutional investors and hedge funds own 97.63% of the company's stock.
DNOW Stock Down 0.4%
DNOW traded down $0.06 during trading on Friday, hitting $15.28. The company's stock had a trading volume of 614,386 shares, compared to its average volume of 936,287. The firm's 50 day moving average price is $15.71 and its two-hundred day moving average price is $14.91. DNOW Inc. has a 12 month low of $11.42 and a 12 month high of $18.45. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 20.93 and a beta of 1.20.
DNOW (NYSE:DNOW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share (EPS) 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 firm had revenue of $599.00 million during the quarter, compared to the consensus estimate of $587.17 million. During the same quarter in the previous year, the company posted $0.21 EPS. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. On average, sell-side analysts forecast that DNOW Inc. will post 0.86 earnings per share for the current year.
DNOW announced that its board has authorized a share repurchase program on Friday, January 24th that permits the company to buyback $160.00 million in shares. This buyback authorization permits the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.
Wall Street Analyst Weigh In
DNOW has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their target price on DNOW from $20.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Susquehanna decreased their price objective on DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, StockNews.com upgraded DNOW from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th.
Check Out Our Latest Stock Report on DNOW
About DNOW
(
Free Report)
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.
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