Brevan Howard Capital Management LP Increases Stock Position in DNOW Inc. (NYSE:DNOW)

Brevan Howard Capital Management LP grew its position in shares of DNOW Inc. (NYSE:DNOW) by 25.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,390 shares of the oil and gas company’s stock after purchasing an additional 6,224 shares during the quarter. Brevan Howard Capital Management LP’s holdings in DNOW were worth $395,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in DNOW. Barclays PLC grew its position in shares of DNOW by 44.6% during the third quarter. Barclays PLC now owns 346,657 shares of the oil and gas company’s stock worth $4,484,000 after acquiring an additional 106,927 shares during the last quarter. Franklin Resources Inc. grew its position in 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 last quarter. Nordea Investment Management AB increased its stake in DNOW by 1.4% in the fourth quarter. Nordea Investment Management AB now owns 327,246 shares of the oil and gas company’s stock valued at $4,257,000 after purchasing an additional 4,582 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of DNOW by 5.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 84,710 shares of the oil and gas company’s stock valued at $1,102,000 after buying an additional 4,456 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of DNOW by 72.4% during the fourth quarter. KBC Group NV now owns 6,560 shares of the oil and gas company’s stock worth $85,000 after buying an additional 2,754 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DNOW. Susquehanna dropped their target price on DNOW from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. StockNews.com raised shares of DNOW from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th. Finally, Stifel Nicolaus lowered their target price on shares of DNOW from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday.

DNOW Price Performance

DNOW stock opened at $14.60 on Friday. The stock’s 50 day moving average price is $15.68 and its 200 day moving average price is $14.77. The company has a market cap of $1.54 billion, a PE ratio of 20.00 and a beta of 1.20. DNOW Inc. has a 1-year low of $11.42 and a 1-year high of $18.45.

DNOW (NYSE:DNOW) last announced its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. The business had revenue of $599.00 million during the quarter, compared to the consensus estimate of $587.17 million. DNOW had a net margin of 3.41% and a return on equity of 9.04%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.21 EPS. On average, equities research analysts anticipate that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW announced that its board has authorized a share repurchase program on Friday, January 24th that permits the company to repurchase $160.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 10% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is 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.