Algert Global LLC Has $1.45 Million Stock Holdings in DNOW Inc. (NYSE:DNOW)

Algert Global LLC lifted its position in DNOW Inc. (NYSE:DNOW) by 2.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 111,137 shares of the oil and gas company’s stock after buying an additional 2,317 shares during the period. Algert Global LLC’s holdings in DNOW were worth $1,446,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in shares of DNOW by 9.4% in the fourth quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company’s stock worth $82,063,000 after acquiring an additional 543,403 shares in the last quarter. First Trust Advisors LP raised its holdings in DNOW by 0.7% during the 4th quarter. First Trust Advisors LP now owns 2,197,167 shares of the oil and gas company’s stock worth $28,585,000 after buying an additional 15,869 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in DNOW by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company’s stock valued at $27,212,000 after buying an additional 25,402 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of DNOW by 6.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company’s stock valued at $23,985,000 after buying an additional 112,135 shares during the period. Finally, Northern Trust Corp increased its position in shares of DNOW by 8.7% during the fourth quarter. Northern Trust Corp now owns 1,225,767 shares of the oil and gas company’s stock worth $15,947,000 after acquiring an additional 98,437 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

DNOW Trading Up 0.4 %

Shares of DNOW stock opened at $14.60 on Friday. The firm’s fifty day moving average price is $15.69 and its two-hundred day moving average price is $14.73. DNOW Inc. has a 1 year low of $11.42 and a 1 year high of $18.45. The firm has a market capitalization of $1.54 billion, a P/E ratio of 20.00 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 (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. The business had revenue of $599.00 million for the quarter, compared to analyst estimates of $587.17 million. DNOW had a return on equity of 9.04% and a net margin of 3.41%. DNOW’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 earnings per share. As a group, equities research analysts forecast that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW declared that its Board of Directors has authorized a share buyback 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 repurchase up to 10% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com raised shares of DNOW from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th. Stifel Nicolaus decreased their price objective on DNOW from $20.00 to $17.00 and set a “buy” rating for the company in a report on Thursday. Finally, Susquehanna cut their target price on DNOW from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th.

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.