Sherbrooke Park Advisers LLC Acquires Shares of 29,673 DNOW Inc. (NYSE:DNOW)

Sherbrooke Park Advisers LLC bought a new stake in shares of DNOW Inc. (NYSE:DNOW) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 29,673 shares of the oil and gas company’s stock, valued at approximately $386,000.

Several other institutional investors and hedge funds also recently made changes to their positions in DNOW. Barclays PLC boosted its stake in shares of DNOW by 44.6% during the 3rd quarter. Barclays PLC now owns 346,657 shares of the oil and gas company’s stock valued at $4,484,000 after buying an additional 106,927 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of DNOW by 5.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 84,710 shares of the oil and gas company’s stock valued at $1,102,000 after buying an additional 4,456 shares during the last quarter. KBC Group NV boosted its stake 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 during the last quarter. Pacer Advisors Inc. boosted its stake in shares of DNOW by 9.4% during 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 buying an additional 543,403 shares during the last quarter. Finally, Highland Capital Management LLC boosted its stake in shares of DNOW by 6.7% during the 4th quarter. Highland Capital Management LLC now owns 17,514 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 1,097 shares during the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

DNOW Price Performance

DNOW stock opened at $15.28 on Friday. DNOW Inc. has a 1-year low of $11.42 and a 1-year high of $18.45. The firm has a fifty day moving average price of $15.71 and a two-hundred day moving average price of $14.89. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 20.93 and a beta of 1.20.

DNOW (NYSE:DNOW) last released its earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. DNOW had a net margin of 3.41% and a return on equity of 9.04%. The firm had revenue of $599.00 million during the quarter, compared to analyst estimates of $587.17 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, analysts expect that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW announced that its board has authorized a stock repurchase plan on Friday, January 24th that allows the company to buyback $160.00 million in shares. This buyback authorization allows the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on DNOW. 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. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th. Finally, Stifel Nicolaus decreased their price objective on shares of DNOW from $20.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, May 8th.

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.