Heartland Advisors Inc. Sells 20,200 Shares of DNOW Inc. (NYSE:DNOW)

Heartland Advisors Inc. trimmed its holdings in DNOW Inc. (NYSE:DNOW - Free Report) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 527,000 shares of the oil and gas company's stock after selling 20,200 shares during the quarter. Heartland Advisors Inc. owned 0.50% of DNOW worth $6,856,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC increased its stake 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 acquiring an additional 885 shares during the period. KBC Group NV increased its position in shares of DNOW by 72.4% during the fourth quarter. KBC Group NV now owns 6,560 shares of the oil and gas company's stock valued at $85,000 after purchasing an additional 2,754 shares during the period. Coldstream Capital Management Inc. raised its stake in shares of DNOW by 10.1% in the third quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company's stock valued at $182,000 after purchasing an additional 1,291 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in DNOW by 23.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 15,760 shares of the oil and gas company's stock worth $205,000 after purchasing an additional 2,947 shares during the period. Finally, HighTower Advisors LLC boosted its stake in DNOW by 9.7% during the third quarter. HighTower Advisors LLC now owns 16,541 shares of the oil and gas company's stock worth $211,000 after buying an additional 1,458 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DNOW. Stifel Nicolaus increased their price objective on shares of DNOW from $17.00 to $20.00 and gave the company 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.

DNOW Stock Up 0.8 %

DNOW stock traded up $0.14 during mid-day trading on Wednesday, hitting $17.43. 214,088 shares of the company were exchanged, compared to its average volume of 885,215. The company has a market capitalization of $1.84 billion, a PE ratio of 23.88 and a beta of 1.51. The business has a fifty day moving average of $15.67 and a 200 day moving average of $14.18. DNOW Inc. has a 1-year low of $11.42 and a 1-year high of $18.45.

DNOW (NYSE:DNOW - Get Free Report) last posted its 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 net margin of 3.41% and a return on equity of 9.04%. Research analysts expect that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW declared that its Board of Directors has approved a stock repurchase program on Friday, January 24th that allows the company to repurchase $160.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 10% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors 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.