DNOW Inc. (NYSE:DNOW) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in DNOW Inc. (NYSE:DNOW) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,843,620 shares of the oil and gas company’s stock after acquiring an additional 112,135 shares during the quarter. JPMorgan Chase & Co. owned about 1.74% of DNOW worth $23,985,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in DNOW. Pacer Advisors Inc. lifted its position 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 worth $82,063,000 after purchasing an additional 543,403 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of DNOW during the 4th quarter worth about $3,903,000. Barclays PLC increased its holdings in shares of DNOW by 44.6% in the 3rd quarter. Barclays PLC now owns 346,657 shares of the oil and gas company’s stock valued at $4,484,000 after acquiring an additional 106,927 shares during the last quarter. Royce & Associates LP raised its position in shares of DNOW by 15.1% during the 4th quarter. Royce & Associates LP now owns 705,407 shares of the oil and gas company’s stock worth $9,177,000 after acquiring an additional 92,769 shares in the last quarter. Finally, Carrera Capital Advisors purchased a new stake in DNOW during the fourth quarter worth approximately $1,145,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Stock Performance

Shares of DNOW opened at $15.67 on Thursday. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 21.47 and a beta of 1.21. DNOW Inc. has a fifty-two week low of $11.42 and a fifty-two week high of $18.45. The firm has a 50-day simple moving average of $15.76 and a 200-day simple moving average of $14.30.

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

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of DNOW from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Stifel Nicolaus lifted 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.

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.