Cooper Creek Partners Management LLC Has $7.53 Million Position in DNOW Inc. (NYSE:DNOW)

Cooper Creek Partners Management LLC grew its holdings in DNOW Inc. (NYSE:DNOW) by 138.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 579,074 shares of the oil and gas company’s stock after purchasing an additional 336,474 shares during the quarter. Cooper Creek Partners Management LLC owned about 0.55% of DNOW worth $7,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in DNOW. Teacher Retirement System of Texas boosted its holdings in shares of DNOW by 0.8% during the 4th quarter. Teacher Retirement System of Texas now owns 100,117 shares of the oil and gas company’s stock worth $1,303,000 after buying an additional 792 shares in the last quarter. Smartleaf Asset Management LLC boosted 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 worth $26,000 after acquiring an additional 885 shares in the last quarter. Highland Capital Management LLC grew its holdings in DNOW by 6.7% in 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 during the period. Franklin Resources Inc. increased its stake in DNOW by 0.6% in the third quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company’s stock valued at $2,761,000 after purchasing an additional 1,278 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its holdings in shares of DNOW by 10.1% during the third 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 period. Institutional investors own 97.63% of the company’s stock.

DNOW Price Performance

Shares of NYSE DNOW opened at $15.37 on Friday. The company has a 50-day moving average price of $15.77 and a 200-day moving average price of $14.33. The stock has a market capitalization of $1.62 billion, a P/E 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.

DNOW (NYSE:DNOW) last released its quarterly earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating 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, equities research analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

DNOW declared that its board has initiated a share buyback program on Friday, January 24th that permits the company to buyback $160.00 million in outstanding shares. This buyback authorization permits the oil and gas company to repurchase 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.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Stifel Nicolaus raised their price objective on DNOW from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, February 14th.

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.