Royce & Associates LP Acquires 92,769 Shares of DNOW Inc. (NYSE:DNOW)

Royce & Associates LP grew its holdings in DNOW Inc. (NYSE:DNOW) by 15.1% in the 4th quarter, Holdings Channel reports. The fund owned 705,407 shares of the oil and gas company’s stock after purchasing an additional 92,769 shares during the quarter. Royce & Associates LP’s holdings in DNOW were worth $9,177,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its position in DNOW by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 885 shares in the last quarter. KBC Group NV boosted its position in shares of DNOW by 45.5% during the third quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after buying an additional 1,190 shares during the period. Coldstream Capital Management Inc. grew its holdings in shares of DNOW by 10.1% during the third quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock worth $182,000 after buying an additional 1,291 shares in the last quarter. Prospera Financial Services Inc acquired a new stake in DNOW in the 3rd quarter valued at approximately $187,000. Finally, iSAM Funds UK Ltd bought a new stake in DNOW in the 3rd quarter valued at approximately $214,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Stock Up 0.4 %

NYSE:DNOW opened at $15.19 on Wednesday. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 20.80 and a beta of 1.51. The stock’s 50 day moving average price is $14.99 and its two-hundred day moving average price is $13.85.

DNOW (NYSE:DNOW) last issued its earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.14. DNOW had a net margin of 3.41% and a return on equity of 9.04%. As a group, analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW announced that its Board of Directors has initiated a stock buyback plan on Friday, January 24th that permits the company to repurchase $160.00 million in shares. This repurchase authorization permits the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

DNOW has been the subject of several research reports. StockNews.com raised shares of DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Stifel Nicolaus lifted their price target on shares of DNOW from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, February 14th.

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.