Versor Investments LP Has $667,000 Holdings in DNOW Inc. (NYSE:DNOW)

Versor Investments LP boosted its stake in DNOW Inc. (NYSE:DNOW) by 43.0% in the fourth quarter, Holdings Channel reports. The firm owned 51,234 shares of the oil and gas company’s stock after purchasing an additional 15,400 shares during the quarter. Versor Investments LP’s holdings in DNOW were worth $667,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV raised its stake in DNOW by 45.5% during the third quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,190 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in 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 worth $182,000 after acquiring an additional 1,291 shares in the last quarter. Prospera Financial Services Inc acquired a new position in DNOW during the third quarter worth about $187,000. iSAM Funds UK Ltd acquired a new position in DNOW during the third quarter worth about $214,000. Finally, HighTower Advisors LLC raised its stake in DNOW by 9.7% during the third quarter. HighTower Advisors LLC now owns 16,541 shares of the oil and gas company’s stock worth $211,000 after acquiring an additional 1,458 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analyst Upgrades and Downgrades

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

DNOW Stock Performance

DNOW stock opened at $15.98 on Friday. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 21.89 and a beta of 1.53. DNOW Inc. has a 52-week low of $11.42 and a 52-week high of $18.45. The stock’s 50 day moving average price is $14.45 and its two-hundred day moving average price is $13.63.

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

DNOW declared that its board has initiated a share repurchase program on Friday, January 24th that allows the company to buyback $160.00 million in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock buyback programs are generally a sign 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.