Legal & General Group Plc Raises Stock Holdings in DNOW Inc. (NYSE:DNOW)

Legal & General Group Plc raised its position in shares of DNOW Inc. (NYSE:DNOW) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 305,467 shares of the oil and gas company’s stock after buying an additional 2,132 shares during the period. Legal & General Group Plc owned about 0.29% of DNOW worth $3,974,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its holdings in DNOW by 0.8% in the fourth 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 acquiring an additional 792 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of DNOW by 78.7% during the fourth 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 raised 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 worth $228,000 after buying an additional 1,097 shares in the last quarter. Franklin Resources Inc. lifted its holdings in DNOW by 0.6% in the third 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, HighTower Advisors LLC boosted its position in DNOW by 9.7% during the 3rd quarter. HighTower Advisors LLC now owns 16,541 shares of the oil and gas company’s stock valued at $211,000 after acquiring an additional 1,458 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

Analyst Ratings Changes

DNOW has been the subject of a number of research analyst reports. StockNews.com cut DNOW from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. Stifel Nicolaus upped their target price on shares of DNOW from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Susquehanna lowered their price target on shares of DNOW from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, April 14th.

DNOW Stock Up 1.8 %

DNOW stock opened at $15.49 on Wednesday. The business has a 50 day moving average of $15.89 and a 200 day moving average of $14.47. The firm has a market cap of $1.64 billion, a PE ratio of 21.22 and a beta of 1.21. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45.

DNOW (NYSE:DNOW) last issued its quarterly 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%. On average, research analysts expect that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

DNOW declared that its Board of Directors has authorized a share repurchase program on Friday, January 24th that permits the company to repurchase $160.00 million in shares. This repurchase authorization permits the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are 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.