DNOW Inc. (NYSE:DNOW) Shares Sold by American Century Companies Inc.

American Century Companies Inc. reduced its stake in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 1.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,714,739 shares of the oil and gas company's stock after selling 18,379 shares during the period. American Century Companies Inc. owned approximately 1.62% of DNOW worth $22,309,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pacer Advisors Inc. boosted its holdings in DNOW by 9.4% during the fourth quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company's stock worth $82,063,000 after buying an additional 543,403 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of DNOW by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company's stock worth $27,212,000 after acquiring an additional 25,402 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of DNOW by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,731,485 shares of the oil and gas company's stock worth $22,388,000 after acquiring an additional 54,660 shares during the period. Wellington Management Group LLP increased its stake in DNOW by 0.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,138,287 shares of the oil and gas company's stock valued at $14,718,000 after purchasing an additional 8,675 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in DNOW by 15.1% during the fourth quarter. Royce & Associates LP now owns 705,407 shares of the oil and gas company's stock worth $9,177,000 after purchasing an additional 92,769 shares during the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several analysts have weighed in on DNOW shares. StockNews.com raised DNOW from a "hold" rating to a "buy" rating in a report on Thursday, February 27th. Stifel Nicolaus boosted their price objective 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.

DNOW Stock Down 7.5 %

Shares of DNOW traded down $1.30 during mid-day trading on Thursday, reaching $16.02. 964,845 shares of the company's stock were exchanged, compared to its average volume of 887,491. DNOW Inc. has a 52-week low of $11.42 and a 52-week high of $18.45. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 21.94 and a beta of 1.51. The company has a 50-day simple moving average of $15.79 and a two-hundred day simple moving average of $14.22.

DNOW (NYSE:DNOW - Get Free Report) last released 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%. As a group, equities research analysts predict that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW declared that its board has initiated a share buyback plan on Friday, January 24th that permits the company to repurchase $160.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are 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.