Royce & Associates LP Purchases 92,769 Shares of DNOW Inc. (NYSE:DNOW)

Royce & Associates LP raised its position in DNOW Inc. (NYSE:DNOW) by 15.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 705,407 shares of the oil and gas company’s stock after buying an additional 92,769 shares during the period. Royce & Associates LP owned 0.67% of DNOW worth $9,177,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in shares of DNOW by 9.4% in 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. Global Alpha Capital Management Ltd. raised its stake in shares of DNOW by 1.9% in the third quarter. Global Alpha Capital Management Ltd. now owns 2,622,426 shares of the oil and gas company’s stock worth $33,908,000 after acquiring an additional 48,900 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of DNOW by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company’s stock worth $27,212,000 after purchasing an additional 25,402 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of DNOW by 3.3% during the third quarter. JPMorgan Chase & Co. now owns 1,731,485 shares of the oil and gas company’s stock worth $22,388,000 after purchasing an additional 54,660 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of DNOW by 0.8% in the third quarter. Wellington Management Group LLP now owns 1,138,287 shares of the oil and gas company’s stock valued at $14,718,000 after purchasing an additional 8,675 shares in the last quarter. 97.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on DNOW shares. Stifel Nicolaus upped their price objective on DNOW from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, February 14th. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a report on Thursday, February 27th.

DNOW Stock Performance

Shares of DNOW stock opened at $15.19 on Wednesday. The firm’s 50 day moving average price is $14.99 and its two-hundred day moving average price is $13.85. The stock has a market cap of $1.60 billion, a PE ratio of 20.80 and a beta of 1.51. DNOW Inc. has a 52-week low of $11.42 and a 52-week high of $18.45.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 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, sell-side analysts predict that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

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

About DNOW

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.