DNOW Inc. (NYSE:DNOW) Stock Holdings Trimmed by Yousif Capital Management LLC

Yousif Capital Management LLC reduced its position in DNOW Inc. (NYSE:DNOW) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,334 shares of the oil and gas company’s stock after selling 1,200 shares during the quarter. Yousif Capital Management LLC’s holdings in DNOW were worth $525,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. increased its holdings in DNOW by 9.4% in the fourth 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. Global Alpha Capital Management Ltd. boosted its stake in DNOW by 1.9% in the third quarter. Global Alpha Capital Management Ltd. now owns 2,622,426 shares of the oil and gas company’s stock valued at $33,908,000 after acquiring an additional 48,900 shares during the period. JPMorgan Chase & Co. boosted its stake in DNOW by 3.3% in the third quarter. JPMorgan Chase & Co. now owns 1,731,485 shares of the oil and gas company’s stock valued at $22,388,000 after acquiring an additional 54,660 shares during the period. Wellington Management Group LLP boosted its stake in DNOW by 0.8% in the third quarter. Wellington Management Group LLP now owns 1,138,287 shares of the oil and gas company’s stock valued at $14,718,000 after acquiring an additional 8,675 shares during the period. Finally, Royce & Associates LP boosted its stake in DNOW by 10.2% in the third quarter. Royce & Associates LP now owns 612,638 shares of the oil and gas company’s stock valued at $7,921,000 after acquiring an additional 56,787 shares during the period. 97.63% of the stock is owned by institutional investors.

DNOW Trading Up 1.1 %

Shares of NYSE DNOW opened at $17.17 on Monday. The stock has a 50 day simple moving average of $13.97 and a 200-day simple moving average of $13.42. The company has a market cap of $1.82 billion, a PE ratio of 9.18 and a beta of 1.53. DNOW Inc. has a 12-month low of $10.75 and a 12-month high of $18.45.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.14. DNOW had a return on equity of 8.90% and a net margin of 8.70%. Sell-side analysts forecast that DNOW Inc. will post 0.81 earnings per share for the current fiscal year.

DNOW declared that its board has approved a stock repurchase plan on Friday, January 24th that authorizes the company to buyback $160.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at DNOW

In other DNOW news, Director Paul M. Coppinger sold 26,186 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total transaction of $401,955.10. Following the sale, the director now directly owns 56,568 shares of the company’s stock, valued at $868,318.80. The trade was a 31.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Stifel Nicolaus lifted their target price on DNOW from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Friday.

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.