Sherbrooke Park Advisers LLC Invests $386,000 in DNOW Inc. (NYSE:DNOW)

Sherbrooke Park Advisers LLC purchased a new position in shares of DNOW Inc. (NYSE:DNOW) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,673 shares of the oil and gas company’s stock, valued at approximately $386,000.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew 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 acquiring an additional 25,402 shares during the last quarter. Amundi grew its position in shares of DNOW by 186.4% during the fourth quarter. Amundi now owns 51,501 shares of the oil and gas company’s stock worth $667,000 after acquiring an additional 33,520 shares during the last quarter. KBC Group NV grew its position in DNOW by 72.4% in the 4th quarter. KBC Group NV now owns 6,560 shares of the oil and gas company’s stock valued at $85,000 after buying an additional 2,754 shares in the last quarter. JPMorgan Chase & Co. grew its position in DNOW by 6.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company’s stock valued at $23,985,000 after buying an additional 112,135 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in DNOW in the 4th quarter valued at about $2,887,000. Institutional investors own 97.63% of the company’s stock.

DNOW Trading Down 0.4%

Shares of NYSE DNOW opened at $15.28 on Friday. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 20.93 and a beta of 1.20. The firm has a 50-day moving average of $15.71 and a two-hundred day moving average of $14.89.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. DNOW had a net margin of 3.41% and a return on equity of 9.04%. The company had revenue of $599.00 million during the quarter, compared to the consensus estimate of $587.17 million. During the same period in the prior year, the company earned $0.21 EPS. DNOW’s revenue was up 6.4% on a year-over-year basis. As a group, research analysts predict that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW announced that its Board of Directors has authorized a share buyback plan on Friday, January 24th that allows the company to repurchase $160.00 million in shares. This repurchase authorization allows the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DNOW. Susquehanna decreased their target price on shares of DNOW from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. StockNews.com upgraded shares of DNOW from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th. Finally, Stifel Nicolaus decreased their target price on shares of DNOW from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, May 8th.

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.