Charles Schwab Investment Management Inc. Purchases 25,402 Shares of DNOW Inc. (NYSE:DNOW)

Charles Schwab Investment Management Inc. boosted its holdings in DNOW Inc. (NYSE:DNOW - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,091,660 shares of the oil and gas company's stock after buying an additional 25,402 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.98% of DNOW worth $27,212,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in 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. KBC Group NV grew its position in shares of DNOW by 45.5% during the 3rd quarter. KBC Group NV now owns 3,806 shares of the oil and gas company's stock valued at $49,000 after acquiring an additional 1,190 shares during the period. Coldstream Capital Management Inc. increased its stake in shares of DNOW by 10.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company's stock worth $182,000 after purchasing an additional 1,291 shares in the last quarter. Prospera Financial Services Inc bought a new position in DNOW in the 3rd quarter worth $187,000. Finally, iSAM Funds UK Ltd purchased a new position in DNOW during the third quarter valued at $214,000. Institutional investors own 97.63% of the company's stock.

DNOW Price Performance

Shares of NYSE DNOW traded down $0.30 during mid-day trading on Friday, reaching $16.03. The company's stock had a trading volume of 1,190,847 shares, compared to its average volume of 834,840. DNOW Inc. has a 52 week low of $11.42 and a 52 week high of $18.45. The stock has a fifty day moving average of $15.12 and a two-hundred day moving average of $13.89. The firm has a market capitalization of $1.69 billion, a PE ratio of 21.96 and a beta of 1.51.

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DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, topping 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 anticipate that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW declared that its board has authorized a stock buyback plan on Friday, January 24th that authorizes the company to buyback $160.00 million in shares. This buyback authorization authorizes the oil and gas company to purchase up to 10% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Stifel Nicolaus upped their price target on DNOW from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. StockNews.com raised shares of DNOW from a "hold" rating to a "buy" rating in a report on Thursday, February 27th.

DNOW Company 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.