Dynamic Technology Lab Private Ltd Reduces Stake in DNOW Inc. (NYSE:DNOW)

Dynamic Technology Lab Private Ltd cut its stake in DNOW Inc. (NYSE:DNOW) by 40.6% in the fourth quarter, HoldingsChannel reports. The fund owned 30,965 shares of the oil and gas company’s stock after selling 21,179 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in DNOW were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its stake in shares of DNOW by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock worth $26,000 after buying an additional 885 shares during the period. KBC Group NV raised 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 worth $85,000 after buying an additional 2,754 shares during the period. Coldstream Capital Management Inc. raised its stake in shares of DNOW by 10.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock worth $182,000 after buying an additional 1,291 shares during the period. Pictet Asset Management Holding SA raised its stake in shares of DNOW by 23.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 15,760 shares of the oil and gas company’s stock worth $205,000 after buying an additional 2,947 shares during the period. Finally, HighTower Advisors LLC raised its stake in shares of 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 buying an additional 1,458 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Trading Up 10.5 %

NYSE DNOW opened at $15.67 on Thursday. The stock has a market cap of $1.66 billion, a PE ratio of 21.47 and a beta of 1.21. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $19.90. The stock has a fifty day simple moving average of $15.76 and a 200-day simple moving average of $14.30.

DNOW (NYSE:DNOW) last posted its earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (EPS) 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%. Research analysts predict that DNOW Inc. will post 0.86 EPS for the current year.

DNOW declared that its board has initiated a stock 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 reacquire up to 10% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DNOW. Stifel Nicolaus boosted their price target on DNOW from $17.00 to $20.00 and gave the stock 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 report on Thursday, February 27th.

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.