Tudor Investment Corp ET AL Purchases 144,796 Shares of DNOW Inc. (NYSE:DNOW)

Tudor Investment Corp ET AL boosted its stake in DNOW Inc. (NYSE:DNOW - Free Report) by 285.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 195,482 shares of the oil and gas company's stock after purchasing an additional 144,796 shares during the period. Tudor Investment Corp ET AL owned about 0.18% of DNOW worth $2,543,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Teacher Retirement System of Texas boosted its position in shares of DNOW by 0.8% during the 4th quarter. Teacher Retirement System of Texas now owns 100,117 shares of the oil and gas company's stock valued at $1,303,000 after purchasing an additional 792 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of 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 period. Highland Capital Management LLC increased its stake in shares of DNOW by 6.7% in the 4th quarter. Highland Capital Management LLC now owns 17,514 shares of the oil and gas company's stock valued at $228,000 after acquiring an additional 1,097 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of DNOW by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company's stock valued at $2,761,000 after acquiring an additional 1,278 shares during the period. Finally, Legal & General Group Plc boosted its stake in DNOW by 0.7% during the fourth quarter. Legal & General Group Plc now owns 305,467 shares of the oil and gas company's stock worth $3,974,000 after acquiring an additional 2,132 shares in the last quarter. 97.63% of the stock is owned by institutional investors.

DNOW Trading Down 0.4 %

DNOW stock traded down $0.06 during trading on Friday, hitting $14.48. 367,080 shares of the company were exchanged, compared to its average volume of 934,926. The company has a market capitalization of $1.53 billion, a P/E ratio of 19.84 and a beta of 1.20. The business's 50 day moving average is $15.70 and its 200 day moving average is $14.71. 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 announced its earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. DNOW had a net margin of 3.41% and a return on equity of 9.04%. The company had revenue of $599.00 million during the quarter, compared to the consensus estimate of $587.17 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. Equities analysts expect that DNOW Inc. will post 0.86 EPS for the current year.

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

Analysts Set New Price Targets

Several brokerages have recently commented on DNOW. Stifel Nicolaus reduced 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. Susquehanna lowered their target price on 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 upgraded shares of DNOW from a "hold" rating to a "buy" rating in a report on Saturday, April 26th.

DNOW Company 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.