Transatlantique Private Wealth LLC Trims Stake in DNOW Inc. (NYSE:DNOW)

Transatlantique Private Wealth LLC cut its position in shares of DNOW Inc. (NYSE:DNOW) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,719 shares of the oil and gas company’s stock after selling 1,260 shares during the period. Transatlantique Private Wealth LLC’s holdings in DNOW were worth $374,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in DNOW. Pacer Advisors Inc. grew its stake in shares of DNOW by 9.4% during the fourth quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company’s stock valued at $82,063,000 after buying an additional 543,403 shares during the last quarter. Cooper Creek Partners Management LLC increased its stake in DNOW by 138.7% in the fourth quarter. Cooper Creek Partners Management LLC now owns 579,074 shares of the oil and gas company’s stock worth $7,534,000 after purchasing an additional 336,474 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of DNOW during the fourth quarter valued at $3,903,000. Norges Bank bought a new position in shares of DNOW in the fourth quarter worth about $3,856,000. Finally, Brandywine Global Investment Management LLC bought a new stake in DNOW during the 4th quarter valued at about $2,766,000. 97.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DNOW. Stifel Nicolaus raised their target price 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. Susquehanna reduced their price objective on DNOW from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, StockNews.com cut DNOW from a “buy” rating to a “hold” rating in a report on Friday.

DNOW Stock Up 1.9 %

Shares of DNOW stock opened at $15.89 on Friday. DNOW Inc. has a 52-week low of $11.42 and a 52-week high of $18.45. The company’s 50 day moving average is $15.90 and its 200 day moving average is $14.43. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 21.76 and a beta of 1.21.

DNOW (NYSE:DNOW) last posted its quarterly earnings data 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%. Analysts anticipate that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW declared that its board has initiated a stock buyback plan on Friday, January 24th that authorizes the company to buyback $160.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership 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.