Pictet Asset Management Holding SA Has $205,000 Stock Holdings in DNOW Inc. (NYSE:DNOW)

Pictet Asset Management Holding SA boosted its position in shares of DNOW Inc. (NYSE:DNOW) by 23.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,760 shares of the oil and gas company’s stock after purchasing an additional 2,947 shares during the period. Pictet Asset Management Holding SA’s holdings in DNOW were worth $205,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DNOW. Norges Bank acquired a new stake in shares of DNOW during the 4th quarter valued at about $3,856,000. JPMorgan Chase & Co. lifted its stake in 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 acquiring an additional 112,135 shares during the last quarter. WINTON GROUP Ltd bought a new stake in DNOW in the fourth quarter worth approximately $221,000. Prudential Financial Inc. increased its stake in shares of DNOW by 4.7% during the 4th quarter. Prudential Financial Inc. now owns 218,267 shares of the oil and gas company’s stock worth $3,136,000 after purchasing an additional 9,737 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of DNOW during the 4th quarter valued at $450,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Trading Up 1.8 %

NYSE:DNOW opened at $15.37 on Friday. The firm has a market capitalization of $1.62 billion, a PE ratio of 21.05 and a beta of 1.21. DNOW Inc. has a 1 year low of $11.42 and a 1 year high of $18.45. The firm’s fifty day simple moving average is $15.77 and its 200 day simple moving average is $14.33.

DNOW (NYSE:DNOW) last posted its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.14. DNOW had a return on equity of 9.04% and a net margin of 3.41%. As a group, analysts anticipate that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW announced that its Board of Directors has authorized a share repurchase plan on Friday, January 24th that authorizes the company to repurchase $160.00 million in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

DNOW has been the topic of several analyst reports. Stifel Nicolaus increased 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. StockNews.com raised DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th.

DNOW 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.