First Trust Advisors LP Purchases 15,869 Shares of DNOW Inc. (NYSE:DNOW)

First Trust Advisors LP boosted its position in shares of DNOW Inc. (NYSE:DNOW) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,197,167 shares of the oil and gas company’s stock after acquiring an additional 15,869 shares during the period. First Trust Advisors LP owned 2.08% of DNOW worth $28,585,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Canada Pension Plan Investment Board grew its holdings in shares of DNOW by 1,610.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 78,700 shares of the oil and gas company’s stock worth $1,024,000 after purchasing an additional 74,100 shares in the last quarter. Icon Advisers Inc. Co. purchased a new stake in DNOW during the fourth quarter valued at about $2,537,000. Barclays PLC raised its holdings in shares of DNOW by 21.3% during the 4th quarter. Barclays PLC now owns 420,370 shares of the oil and gas company’s stock valued at $5,469,000 after buying an additional 73,713 shares in the last quarter. Cooper Creek Partners Management LLC lifted its position in DNOW by 138.7% in the 4th quarter. Cooper Creek Partners Management LLC now owns 579,074 shares of the oil and gas company’s stock worth $7,534,000 after buying an additional 336,474 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its stake in DNOW by 10.2% in the fourth quarter. Sterling Capital Management LLC now owns 32,589 shares of the oil and gas company’s stock worth $424,000 after buying an additional 3,026 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DNOW shares. StockNews.com upgraded shares of DNOW from a “hold” rating to a “buy” rating in a report on Saturday. Stifel Nicolaus upped their price target 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. Finally, Susquehanna decreased their price objective on DNOW from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, April 14th.

DNOW Trading Up 0.9 %

DNOW stock opened at $16.13 on Friday. The firm’s 50-day moving average price is $15.84 and its two-hundred day moving average price is $14.50. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 22.10 and a beta of 1.21. DNOW Inc. has a 12-month low of $11.42 and a 12-month 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, 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%. Equities analysts predict that DNOW Inc. will post 0.86 EPS for the current year.

DNOW declared that its board has authorized a share 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 buy up to 10% of its stock through open market purchases. Stock 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.