KBC Group NV Raises Holdings in DNOW Inc. (NYSE:DNOW)

KBC Group NV lifted its holdings in DNOW Inc. (NYSE:DNOW) by 72.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,560 shares of the oil and gas company’s stock after purchasing an additional 2,754 shares during the quarter. KBC Group NV’s holdings in DNOW were worth $85,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Exchange Traded Concepts LLC lifted its holdings in DNOW by 5.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 84,710 shares of the oil and gas company’s stock valued at $1,102,000 after acquiring an additional 4,456 shares during the period. Nordea Investment Management AB increased its holdings in shares of DNOW by 1.4% in the 4th quarter. Nordea Investment Management AB now owns 327,246 shares of the oil and gas company’s stock valued at $4,257,000 after purchasing an additional 4,582 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of DNOW by 3.3% in the third quarter. JPMorgan Chase & Co. now owns 1,731,485 shares of the oil and gas company’s stock valued at $22,388,000 after purchasing an additional 54,660 shares during the period. Franklin Resources Inc. boosted its holdings in DNOW by 0.6% during the third quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company’s stock worth $2,761,000 after buying an additional 1,278 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its position 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 period. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Trading Down 1.5 %

Shares of DNOW stock opened at $14.09 on Monday. The company has a 50-day moving average of $13.94 and a two-hundred day moving average of $13.42. The stock has a market cap of $1.49 billion, a PE ratio of 7.53 and a beta of 1.53. DNOW Inc. has a 12-month low of $9.44 and a 12-month high of $15.65.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $606.00 million during the quarter, compared to analysts’ expectations of $614.92 million. DNOW had a return on equity of 8.90% and a net margin of 8.70%. DNOW’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 earnings per share. On average, sell-side analysts forecast that DNOW Inc. will post 0.81 EPS for the current fiscal year.

DNOW announced that its board has initiated a share repurchase plan on Friday, January 24th that authorizes the company to repurchase $160.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 10% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, Director Paul M. Coppinger sold 26,186 shares of the stock in a transaction that occurred on 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 directly owns 56,568 shares in the company, valued at $868,318.80. This represents a 31.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.60% of the company’s stock.

DNOW 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.