Highland Capital Management LLC Buys 1,097 Shares of DNOW Inc. (NYSE:DNOW)

Highland Capital Management LLC increased its stake in shares of DNOW Inc. (NYSE:DNOW) by 6.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,514 shares of the oil and gas company’s stock after purchasing an additional 1,097 shares during the quarter. Highland Capital Management LLC’s holdings in DNOW were worth $228,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. KBC Group NV increased its position in DNOW by 45.5% during the third quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,190 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of DNOW by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company’s stock worth $2,761,000 after purchasing an additional 1,278 shares during the period. Coldstream Capital Management Inc. grew its holdings in 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 purchasing an additional 1,291 shares during the last quarter. HighTower Advisors LLC raised its position in DNOW by 9.7% in the 3rd 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. Finally, Quarry LP lifted its stake in DNOW by 75.6% in the second quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock worth $61,000 after purchasing an additional 1,908 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Insider Transactions at DNOW

In related news, Director Paul M. Coppinger sold 26,186 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $15.35, for a total value of $401,955.10. Following the transaction, the director now owns 56,568 shares of the company’s stock, valued at $868,318.80. This represents a 31.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.60% of the company’s stock.

DNOW Stock Performance

DNOW opened at $14.89 on Friday. The stock’s 50 day moving average price is $13.98 and its 200-day moving average price is $13.42. DNOW Inc. has a one year low of $9.44 and a one year high of $15.65. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 7.96 and a beta of 1.53.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. DNOW had a return on equity of 8.90% and a net margin of 8.70%. The company had revenue of $606.00 million for the quarter, compared to the consensus estimate of $614.92 million. During the same quarter in the prior year, the company posted $0.25 EPS. DNOW’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, analysts predict that DNOW Inc. will post 0.81 earnings per share for the current fiscal year.

DNOW declared that its board has approved a share 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 often a sign that the company’s board believes its stock is 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.