Smartleaf Asset Management LLC Has $26,000 Stock Holdings in DNOW Inc. (NYSE:DNOW)

Smartleaf Asset Management LLC boosted its position in shares of DNOW Inc. (NYSE:DNOW) by 78.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,010 shares of the oil and gas company’s stock after buying an additional 885 shares during the quarter. Smartleaf Asset Management LLC’s holdings in DNOW were worth $26,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DNOW. Pacer Advisors Inc. lifted its stake 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 valued at $82,063,000 after purchasing an additional 543,403 shares during the period. Global Alpha Capital Management Ltd. lifted its stake in shares of DNOW by 1.9% in the 3rd 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 purchasing an additional 48,900 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of DNOW by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,731,485 shares of the oil and gas company’s stock valued at $22,388,000 after purchasing an additional 54,660 shares during the period. Wellington Management Group LLP raised its stake in DNOW by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,138,287 shares of the oil and gas company’s stock worth $14,718,000 after buying an additional 8,675 shares during the period. Finally, Royce & Associates LP raised its stake in DNOW by 10.2% during the 3rd quarter. Royce & Associates LP now owns 612,638 shares of the oil and gas company’s stock worth $7,921,000 after buying an additional 56,787 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analyst Upgrades and Downgrades

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

DNOW Trading Down 1.5 %

DNOW stock opened at $14.89 on Thursday. The stock has a 50-day moving average price of $14.83 and a two-hundred day moving average price of $13.79. The stock has a market cap of $1.57 billion, a PE ratio of 20.40 and a beta of 1.51. DNOW Inc. has a 1 year low of $11.42 and a 1 year high of $18.45.

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

DNOW declared that its Board of Directors has authorized a stock buyback plan on Friday, January 24th that authorizes the company to repurchase $160.00 million in shares. This repurchase authorization authorizes the oil and gas company to buy up to 10% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors 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.