Brandywine Global Investment Management LLC Takes Position in DNOW Inc. (NYSE:DNOW)

Brandywine Global Investment Management LLC acquired a new position in DNOW Inc. (NYSE:DNOW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 212,607 shares of the oil and gas company’s stock, valued at approximately $2,766,000. Brandywine Global Investment Management LLC owned 0.20% of DNOW as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in shares of 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 valued at $26,000 after purchasing an additional 885 shares during the period. KBC Group NV lifted its stake in DNOW by 72.4% in the fourth 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 during the period. Coldstream Capital Management Inc. boosted its holdings 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 buying an additional 1,291 shares during the last quarter. Pictet Asset Management Holding SA grew its position in shares of DNOW by 23.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 15,760 shares of the oil and gas company’s stock worth $205,000 after buying an additional 2,947 shares during the period. Finally, HighTower Advisors LLC increased its stake in shares of DNOW by 9.7% in the 3rd quarter. HighTower Advisors LLC now owns 16,541 shares of the oil and gas company’s stock valued at $211,000 after acquiring an additional 1,458 shares during the last quarter. 97.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on DNOW. StockNews.com raised shares of DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Stifel Nicolaus boosted their price target on shares of DNOW from $17.00 to $20.00 and gave the company a “buy” rating in a report on Friday, February 14th.

DNOW Stock Performance

Shares of DNOW opened at $17.30 on Thursday. The stock has a 50 day simple moving average of $15.75 and a 200 day simple moving average of $14.20. DNOW Inc. has a 52-week low of $11.42 and a 52-week high of $18.45. The firm has a market capitalization of $1.83 billion, a PE ratio of 23.70 and a beta of 1.51.

DNOW (NYSE:DNOW) last released its quarterly earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.14. DNOW had a net margin of 3.41% and a return on equity of 9.04%. Equities research analysts predict that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW announced that its board has initiated a stock buyback plan 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 reacquire up to 10% of its shares through open market purchases. Shares repurchase plans are often a sign 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.