WINTON GROUP Ltd Takes Position in DNOW Inc. (NYSE:DNOW)

WINTON GROUP Ltd purchased a new stake in shares of DNOW Inc. (NYSE:DNOW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 16,963 shares of the oil and gas company’s stock, valued at approximately $221,000.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings in shares of 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 worth $82,063,000 after purchasing an additional 543,403 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of DNOW by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company’s stock worth $27,212,000 after acquiring an additional 25,402 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of DNOW by 3.3% during 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 raised its holdings in shares of DNOW by 0.8% during 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 lifted its position in shares of DNOW by 15.1% in the 4th quarter. Royce & Associates LP now owns 705,407 shares of the oil and gas company’s stock valued at $9,177,000 after acquiring an additional 92,769 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on DNOW. Stifel Nicolaus lifted their price objective on shares of DNOW from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a report on Thursday, February 27th.

DNOW Price Performance

Shares of DNOW opened at $17.08 on Tuesday. The business’s 50-day moving average is $15.60 and its 200-day moving average is $14.15. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 23.39 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 released its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.14. DNOW had a net margin of 3.41% and a return on equity of 9.04%. Equities research analysts expect that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

DNOW announced that its Board of Directors has initiated a stock buyback 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 purchase up to 10% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

About DNOW

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.