Geode Capital Management LLC Has $31.47 Million Stake in DNOW Inc. (NYSE:DNOW)

Geode Capital Management LLC trimmed its position in shares of DNOW Inc. (NYSE:DNOW) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,418,576 shares of the oil and gas company’s stock after selling 21,277 shares during the quarter. Geode Capital Management LLC’s holdings in DNOW were worth $31,473,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings in DNOW by 78.7% in 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 during the period. KBC Group NV lifted its holdings 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 worth $85,000 after purchasing an additional 2,754 shares in the last quarter. Coldstream Capital Management Inc. increased 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 worth $182,000 after purchasing an additional 1,291 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in DNOW by 23.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 15,760 shares of the oil and gas company’s stock valued at $205,000 after buying an additional 2,947 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of 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 buying an additional 1,458 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on DNOW shares. StockNews.com upgraded shares of DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Susquehanna decreased their price objective on shares of DNOW from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Stifel Nicolaus upped their price target on DNOW from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, February 14th.

DNOW Stock Up 1.8 %

Shares of DNOW stock opened at $15.64 on Thursday. DNOW Inc. has a 52 week low of $11.42 and a 52 week high of $18.45. The company has a 50 day moving average price of $15.83 and a 200-day moving average price of $14.38. The firm has a market capitalization of $1.65 billion, a PE ratio of 21.42 and a beta of 1.21.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping 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%. Analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW declared that its board has approved a stock buyback plan 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 reacquire up to 10% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.