DNOW Inc. (NYSE:DNOW) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its stake in shares of DNOW Inc. (NYSE:DNOW) by 307.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,821 shares of the oil and gas company’s stock after acquiring an additional 71,535 shares during the quarter. BNP Paribas Financial Markets owned about 0.09% of DNOW worth $1,234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DNOW. Smartleaf Asset Management LLC increased 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 valued at $26,000 after acquiring an additional 885 shares during the last quarter. Quarry LP increased its stake in shares of DNOW by 69.2% during the 4th quarter. Quarry LP now owns 5,578 shares of the oil and gas company’s stock valued at $73,000 after acquiring an additional 2,281 shares during the last quarter. KBC Group NV increased 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 acquiring an additional 2,754 shares during the last quarter. Polymer Capital Management US LLC acquired a new stake in DNOW during the 4th quarter worth approximately $192,000. Finally, Pictet Asset Management Holding SA increased its position in 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 purchasing an additional 2,947 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Stock Performance

DNOW opened at $15.11 on Tuesday. The firm has a 50 day moving average price of $15.71 and a 200 day moving average price of $14.94. The company has a market cap of $1.60 billion, a PE ratio of 20.70 and a beta of 1.20. DNOW Inc. has a 1 year low of $11.42 and a 1 year high of $18.45.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share (EPS) 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 company had revenue of $599.00 million during the quarter, compared to the consensus estimate of $587.17 million. During the same quarter last year, the company earned $0.21 earnings per share. DNOW’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, sell-side analysts predict that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW announced that its Board of Directors has initiated a stock buyback plan 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 reacquire up to 10% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

DNOW has been the subject of a number of research analyst reports. Susquehanna dropped their target price 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. Stifel Nicolaus dropped their target price on shares of DNOW from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Finally, StockNews.com raised shares of DNOW from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th.

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.