DNOW Inc. (NYSE:DNOW) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its position in DNOW Inc. (NYSE:DNOW) by 0.9% during the 4th quarter, Holdings Channel reports. The firm owned 6,715,806 shares of the oil and gas company’s stock after selling 62,392 shares during the quarter. Dimensional Fund Advisors LP owned about 0.06% of DNOW worth $87,372,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas increased its stake in shares of DNOW by 0.8% during the 4th quarter. Teacher Retirement System of Texas now owns 100,117 shares of the oil and gas company’s stock worth $1,303,000 after purchasing an additional 792 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of DNOW by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 885 shares during the last quarter. Highland Capital Management LLC lifted its position in shares of DNOW by 6.7% in the fourth quarter. Highland Capital Management LLC now owns 17,514 shares of the oil and gas company’s stock valued at $228,000 after acquiring an additional 1,097 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of DNOW by 0.6% during the third quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company’s stock valued at $2,761,000 after acquiring an additional 1,278 shares during the last quarter. Finally, Legal & General Group Plc increased its position in DNOW by 0.7% during the 4th quarter. Legal & General Group Plc now owns 305,467 shares of the oil and gas company’s stock worth $3,974,000 after purchasing an additional 2,132 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

DNOW has been the topic of a number of recent research reports. Susquehanna reduced their target price on shares of DNOW from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Stifel Nicolaus raised their target price on shares of DNOW from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, StockNews.com raised shares of DNOW from a “hold” rating to a “buy” rating in a research note on Saturday.

DNOW Price Performance

DNOW opened at $16.33 on Wednesday. DNOW Inc. has a 12 month low of $11.42 and a 12 month high of $18.45. The business has a 50-day moving average of $15.78 and a two-hundred day moving average of $14.58. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 22.36 and a beta of 1.21.

DNOW (NYSE:DNOW) last released its earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 anticipate that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW announced that its board has initiated a share buyback plan 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 reacquire up to 10% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

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.