DNOW Inc. (NYSE:DNOW) Shares Sold by LPL Financial LLC

LPL Financial LLC lessened its position in shares of DNOW Inc. (NYSE:DNOW) by 3.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 90,269 shares of the oil and gas company’s stock after selling 3,426 shares during the period. LPL Financial LLC’s holdings in DNOW were worth $1,174,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Smartleaf Asset Management LLC increased its stake in 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 in the last quarter. KBC Group NV lifted its stake in shares of DNOW by 72.4% in the 4th quarter. KBC Group NV now owns 6,560 shares of the oil and gas company’s stock valued at $85,000 after purchasing an additional 2,754 shares during the last quarter. HighTower Advisors LLC boosted its stake in DNOW by 9.7% during the third 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. Highland Capital Management LLC lifted its stake in DNOW by 6.7% during the fourth quarter. Highland Capital Management LLC now owns 17,514 shares of the oil and gas company’s stock worth $228,000 after purchasing an additional 1,097 shares in the last quarter. Finally, Inspire Advisors LLC lifted its stake in DNOW by 8.8% during the 4th quarter. Inspire Advisors LLC now owns 28,643 shares of the oil and gas company’s stock worth $373,000 after acquiring an additional 2,312 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Analyst Upgrades and Downgrades

DNOW has been the topic of several recent research reports. 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 note on Friday, February 14th. StockNews.com lowered DNOW from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Susquehanna decreased their target price on DNOW from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, April 14th.

DNOW Stock Performance

DNOW stock opened at $15.89 on Friday. The company’s 50 day moving average price is $15.90 and its 200 day moving average price is $14.43. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 21.76 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.

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

DNOW announced that its Board of Directors has initiated a share buyback program on Friday, January 24th that allows the company to buyback $160.00 million in shares. This buyback authorization allows the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.