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

Pacer Advisors Inc. increased its position in DNOW Inc. (NYSE:DNOW) by 9.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,307,678 shares of the oil and gas company’s stock after acquiring an additional 543,403 shares during the period. Pacer Advisors Inc. owned approximately 0.06% of DNOW worth $82,063,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Foundry Partners LLC grew its holdings in DNOW by 832.0% during the 3rd quarter. Foundry Partners LLC now owns 365,795 shares of the oil and gas company’s stock valued at $4,730,000 after buying an additional 326,547 shares during the last quarter. Weiss Asset Management LP acquired a new position in DNOW in the 3rd quarter valued at about $2,025,000. AQR Capital Management LLC lifted its holdings in DNOW by 21.9% in the 2nd quarter. AQR Capital Management LLC now owns 827,965 shares of the oil and gas company’s stock valued at $11,368,000 after purchasing an additional 148,549 shares in the last quarter. Barclays PLC boosted its stake in shares of DNOW by 44.6% during the 3rd quarter. Barclays PLC now owns 346,657 shares of the oil and gas company’s stock worth $4,484,000 after purchasing an additional 106,927 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of DNOW by 47.0% during the second quarter. Sei Investments Co. now owns 192,950 shares of the oil and gas company’s stock worth $2,649,000 after buying an additional 61,692 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Stock Performance

DNOW stock opened at $15.10 on Monday. The company has a 50 day moving average price of $13.95 and a two-hundred day moving average price of $13.37. The stock has a market capitalization of $1.60 billion, a P/E ratio of 8.07 and a beta of 1.53. DNOW Inc. has a one year low of $9.44 and a one year high of $15.65.

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

DNOW announced that its Board of Directors has approved a stock buyback program on Friday, January 24th that permits the company to buyback $160.00 million in shares. This buyback authorization permits the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at DNOW

In other news, Director Paul M. Coppinger sold 26,186 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $15.35, for a total transaction of $401,955.10. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.60% of the company’s stock.

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.