Tudor Investment Corp ET AL Has $2.54 Million Stake in DNOW Inc. (NYSE:DNOW)

Tudor Investment Corp ET AL lifted its holdings in DNOW Inc. (NYSE:DNOW) by 285.7% during the 4th quarter, Holdings Channel reports. The fund owned 195,482 shares of the oil and gas company’s stock after acquiring an additional 144,796 shares during the quarter. Tudor Investment Corp ET AL’s holdings in DNOW were worth $2,543,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Teacher Retirement System of Texas lifted its position in DNOW by 0.8% during the 4th quarter. Teacher Retirement System of Texas now owns 100,117 shares of the oil and gas company’s stock valued at $1,303,000 after purchasing an additional 792 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of 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 buying an additional 885 shares during the period. Highland Capital Management LLC grew its stake in DNOW by 6.7% in the fourth quarter. Highland Capital Management LLC now owns 17,514 shares of the oil and gas company’s stock valued at $228,000 after acquiring an additional 1,097 shares during the period. Franklin Resources Inc. raised its holdings in DNOW by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company’s stock worth $2,761,000 after buying an additional 1,278 shares during the period. Finally, Legal & General Group Plc increased its position in shares of DNOW by 0.7% during the fourth quarter. Legal & General Group Plc now owns 305,467 shares of the oil and gas company’s stock worth $3,974,000 after acquiring an additional 2,132 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on DNOW shares. Stifel Nicolaus lifted their target price on DNOW from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, February 14th. StockNews.com raised shares of DNOW from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th. Finally, Susquehanna reduced their target price on DNOW from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, April 14th.

DNOW Trading Up 2.9 %

NYSE:DNOW opened at $16.55 on Friday. DNOW Inc. has a 1-year low of $11.42 and a 1-year high of $18.45. The stock has a market cap of $1.75 billion, a P/E ratio of 22.67 and a beta of 1.21. The stock has a 50 day simple moving average of $15.72 and a 200 day simple moving average of $14.66.

DNOW (NYSE:DNOW) last released its quarterly earnings results on Thursday, February 13th. The oil and gas company reported $0.25 EPS 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, sell-side analysts forecast that DNOW Inc. will post 0.86 EPS for the current year.

DNOW announced that its Board of Directors has initiated a stock repurchase 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 purchase up to 10% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is 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.