DNOW Inc. (NYSE:DNOW) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its holdings in DNOW Inc. (NYSE:DNOW) by 9.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,307,678 shares of the oil and gas company’s stock after purchasing an additional 543,403 shares during the quarter. Pacer Advisors Inc. owned about 5.96% of DNOW worth $82,063,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of DNOW. KBC Group NV grew its stake in DNOW by 45.5% during the 3rd quarter. KBC Group NV now owns 3,806 shares of the oil and gas company’s stock worth $49,000 after buying an additional 1,190 shares during the last quarter. Quarry LP grew its position in shares of DNOW by 75.6% during the second quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 1,908 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of DNOW in the 3rd quarter valued at $78,000. Canada Pension Plan Investment Board purchased a new stake in DNOW in the 2nd quarter valued at $95,000. Finally, MBB Public Markets I LLC acquired a new stake in DNOW during the 2nd quarter worth $138,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Stock Performance

Shares of DNOW stock opened at $15.10 on Monday. The company’s fifty day moving average is $13.95 and its two-hundred day moving average is $13.37. DNOW Inc. has a 1 year low of $9.44 and a 1 year high of $15.65. The company has a market capitalization of $1.60 billion, a P/E ratio of 8.07 and a beta of 1.53.

DNOW (NYSE:DNOW) last released its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $606.00 million for the quarter, compared to analyst estimates of $614.92 million. DNOW had a return on equity of 8.90% and a net margin of 8.70%. The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $0.25 earnings per share. As a group, equities analysts expect that DNOW Inc. will post 0.81 earnings per share for the current year.

DNOW announced that its board has approved a share repurchase 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 buy up to 10% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at DNOW

In other news, Director Paul M. Coppinger sold 26,186 shares of DNOW stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $15.35, for a total value of $401,955.10. Following the sale, the director now owns 56,568 shares of the company’s stock, valued at $868,318.80. The trade was a 31.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.60% of the company’s stock.

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.