Quantbot Technologies LP Trims Stock Position in DNOW Inc. (NYSE:DNOW)

Quantbot Technologies LP decreased its holdings in DNOW Inc. (NYSE:DNOW) by 60.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,307 shares of the oil and gas company’s stock after selling 47,180 shares during the quarter. Quantbot Technologies LP’s holdings in DNOW were worth $394,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings in DNOW by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 885 shares during the period. KBC Group NV lifted its position in shares of DNOW by 72.4% during the 4th quarter. KBC Group NV now owns 6,560 shares of the oil and gas company’s stock valued at $85,000 after buying an additional 2,754 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in DNOW by 10.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock worth $182,000 after acquiring an additional 1,291 shares in the last quarter. HighTower Advisors LLC raised its stake in DNOW by 9.7% during the 3rd quarter. HighTower Advisors LLC now owns 16,541 shares of the oil and gas company’s stock worth $211,000 after acquiring an additional 1,458 shares during the period. Finally, iSAM Funds UK Ltd bought a new stake in DNOW during the 3rd quarter worth approximately $214,000. 97.63% of the stock is currently owned by institutional investors.

DNOW Trading Down 1.4 %

Shares of NYSE:DNOW opened at $17.06 on Friday. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 23.36 and a beta of 1.51. DNOW Inc. has a 12 month low of $11.42 and a 12 month high of $18.45. The company has a 50-day moving average price of $15.54 and a 200 day moving average price of $14.08.

DNOW (NYSE:DNOW) last posted its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, beating 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, equities analysts forecast that DNOW Inc. will post 0.86 EPS for the current year.

DNOW declared that its board has approved a stock repurchase program on Friday, January 24th that permits the company to buyback $160.00 million in outstanding 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 generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

DNOW has been the topic of several recent analyst reports. Stifel Nicolaus raised their price objective on shares of DNOW from $17.00 to $20.00 and gave the company 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 research note on Thursday, February 27th.

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.