Fox Run Management L.L.C. Makes New $450,000 Investment in DNOW Inc. (NYSE:DNOW)

Fox Run Management L.L.C. purchased a new stake in DNOW Inc. (NYSE:DNOW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 34,595 shares of the oil and gas company’s stock, valued at approximately $450,000.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in DNOW by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 885 shares in the last quarter. KBC Group NV grew its holdings 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 purchasing an additional 2,754 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of DNOW by 10.1% in the third quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock valued at $182,000 after buying an additional 1,291 shares during the period. Prospera Financial Services Inc bought a new position in DNOW in the 3rd quarter valued at approximately $187,000. Finally, iSAM Funds UK Ltd acquired a new stake in DNOW during the 3rd quarter worth approximately $214,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Price Performance

Shares of DNOW stock opened at $16.98 on Wednesday. The stock has a market capitalization of $1.79 billion, a PE ratio of 23.26 and a beta of 1.51. The business’s 50 day simple moving average is $15.32 and its 200 day simple moving average is $14.00. DNOW Inc. has a one year low of $11.42 and a one year high of $18.45.

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, beating analysts’ consensus estimates of $0.11 by $0.14. DNOW had a net margin of 3.41% and a return on equity of 9.04%. As a group, research analysts expect that DNOW Inc. will post 0.86 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

DNOW has been the subject of several recent research reports. Stifel Nicolaus upped their price target on shares of DNOW from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, February 14th. StockNews.com raised DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th.

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.