WINTON GROUP Ltd Takes Position in DNOW Inc. (NYSE:DNOW)

WINTON GROUP Ltd purchased a new position in shares of DNOW Inc. (NYSE:DNOW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 16,963 shares of the oil and gas company’s stock, valued at approximately $221,000.

A number of other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in 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 in the last quarter. KBC Group NV raised its position 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 in the last quarter. Coldstream Capital Management Inc. raised its position in shares of DNOW by 10.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock valued at $182,000 after acquiring an additional 1,291 shares in the last quarter. iSAM Funds UK Ltd bought a new position in DNOW during the third quarter worth $214,000. Finally, HighTower Advisors LLC boosted its holdings in DNOW by 9.7% in the third quarter. HighTower Advisors LLC now owns 16,541 shares of the oil and gas company’s stock worth $211,000 after purchasing an additional 1,458 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Stock Performance

DNOW stock opened at $17.08 on Tuesday. The stock’s fifty day moving average is $15.60 and its two-hundred day moving average is $14.15. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 23.39 and a beta of 1.51. DNOW Inc. has a 1 year low of $11.42 and a 1 year high of $18.45.

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

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target 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 upgraded shares of DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th.

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.