Amundi Grows Holdings in DNOW Inc. (NYSE:DNOW)

Amundi grew its stake in shares of DNOW Inc. (NYSE:DNOW) by 186.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,501 shares of the oil and gas company’s stock after purchasing an additional 33,520 shares during the quarter. Amundi’s holdings in DNOW were worth $667,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its holdings in shares of DNOW by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 885 shares during the last quarter. KBC Group NV grew its holdings in shares of DNOW by 45.5% in the third quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,190 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of DNOW by 10.1% in the third quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock worth $182,000 after purchasing an additional 1,291 shares during the last quarter. Prospera Financial Services Inc bought a new stake in shares of DNOW in the third quarter valued at about $187,000. Finally, iSAM Funds UK Ltd bought a new stake in shares of DNOW in the third quarter valued at about $214,000. 97.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DNOW has been the topic of a number of recent research reports. StockNews.com raised DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Stifel Nicolaus upped their target price on DNOW from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, February 14th.

DNOW Stock Performance

Shares of DNOW opened at $16.10 on Thursday. The business’s 50-day moving average is $15.05 and its two-hundred day moving average is $13.87. The company has a market capitalization of $1.70 billion, a P/E ratio of 22.05 and a beta of 1.51. DNOW Inc. has a fifty-two week low of $11.42 and a fifty-two week high of $18.45.

DNOW (NYSE:DNOW) last announced its quarterly earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, topping 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%. Analysts forecast that DNOW Inc. will post 0.86 EPS for the current year.

DNOW announced that its Board of Directors has authorized a stock repurchase program 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 repurchase up to 10% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.