Barrow Hanley Mewhinney & Strauss LLC decreased its holdings in DNOW Inc. (NYSE:DNOW - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,524,050 shares of the oil and gas company's stock after selling 151,299 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned 3.33% of DNOW worth $45,848,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted 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 during the period. Smartleaf Asset Management LLC boosted its position in shares of DNOW by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company's stock valued at $26,000 after buying an additional 885 shares during the period. Highland Capital Management LLC grew its stake in shares of DNOW by 6.7% during 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 buying an additional 1,097 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of DNOW by 0.6% in 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 during the period. Finally, Coldstream Capital Management Inc. lifted its stake in shares of DNOW by 10.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company's stock worth $182,000 after acquiring an additional 1,291 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company's stock.
Analysts Set New Price Targets
A number of analysts have weighed in on DNOW shares. Stifel Nicolaus increased their target price on DNOW from $17.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. StockNews.com raised shares of DNOW from a "hold" rating to a "buy" rating in a research report on Thursday, February 27th.
Check Out Our Latest Research Report on DNOW
DNOW Trading Down 7.7 %
Shares of DNOW traded down $1.23 during midday trading on Friday, reaching $14.81. 1,700,981 shares of the stock were exchanged, compared to its average volume of 891,822. The company's 50 day moving average is $15.78 and its two-hundred day moving average is $14.23. The company has a market capitalization of $1.57 billion, a P/E ratio of 20.29 and a beta of 1.21. DNOW Inc. has a 52 week low of $11.42 and a 52 week high of $18.45.
DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The oil and gas company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.11 by $0.14. DNOW had a net margin of 3.41% and a return on equity of 9.04%. On average, sell-side analysts expect that DNOW Inc. will post 0.86 EPS for the current year.
DNOW declared that its Board of Directors has initiated a share buyback 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 repurchase up to 10% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.
DNOW Company Profile
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Free Report)
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.
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