Cooper Creek Partners Management LLC Purchases 336,474 Shares of DNOW Inc. (NYSE:DNOW)

Cooper Creek Partners Management LLC increased its holdings in DNOW Inc. (NYSE:DNOW) by 138.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 579,074 shares of the oil and gas company’s stock after buying an additional 336,474 shares during the period. Cooper Creek Partners Management LLC’s holdings in DNOW were worth $7,534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of DNOW. Pacer Advisors Inc. grew its stake in DNOW by 9.4% in the 4th quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company’s stock valued at $82,063,000 after purchasing an additional 543,403 shares during the period. Charles Schwab Investment Management Inc. grew its position in DNOW by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company’s stock valued at $27,212,000 after buying an additional 25,402 shares during the period. JPMorgan Chase & Co. increased its holdings in DNOW by 6.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company’s stock worth $23,985,000 after buying an additional 112,135 shares during the last quarter. Wellington Management Group LLP raised its position in DNOW by 0.8% in the third quarter. Wellington Management Group LLP now owns 1,138,287 shares of the oil and gas company’s stock worth $14,718,000 after acquiring an additional 8,675 shares during the period. Finally, Royce & Associates LP boosted its stake in DNOW by 15.1% in the fourth quarter. Royce & Associates LP now owns 705,407 shares of the oil and gas company’s stock valued at $9,177,000 after acquiring an additional 92,769 shares during the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

DNOW Stock Up 1.8 %

Shares of DNOW opened at $15.37 on Friday. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45. The stock has a market cap of $1.62 billion, a PE ratio of 21.05 and a beta of 1.21. The business’s 50-day moving average price is $15.77 and its 200-day moving average price is $14.33.

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

DNOW declared that its board has approved a stock repurchase program on Friday, January 24th that allows the company to buyback $160.00 million in outstanding shares. This buyback authorization allows the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.