Wellington Management Group LLP Sells 109,400 Shares of DNOW Inc. (NYSE:DNOW)

Wellington Management Group LLP trimmed its position in DNOW Inc. (NYSE:DNOW - Free Report) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,028,887 shares of the oil and gas company's stock after selling 109,400 shares during the quarter. Wellington Management Group LLP owned 0.97% of DNOW worth $13,386,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its position in shares of DNOW by 0.8% in the 4th quarter. Teacher Retirement System of Texas now owns 100,117 shares of the oil and gas company's stock valued at $1,303,000 after buying an additional 792 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in DNOW by 78.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 885 shares during the last quarter. Highland Capital Management LLC lifted its position in shares of DNOW by 6.7% in the 4th quarter. Highland Capital Management LLC now owns 17,514 shares of the oil and gas company's stock worth $228,000 after purchasing an additional 1,097 shares during the period. Franklin Resources Inc. boosted its stake in shares of DNOW by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company's stock valued at $2,761,000 after purchasing an additional 1,278 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted 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 valued at $182,000 after purchasing an additional 1,291 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. StockNews.com upgraded DNOW from a "hold" rating to a "buy" rating in a report on Thursday, February 27th. Susquehanna dropped their target price on shares of DNOW from $19.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, Stifel Nicolaus raised their price target on shares of DNOW from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, February 14th.

DNOW Price Performance

Shares of DNOW stock traded up $0.26 on Tuesday, hitting $15.49. The stock had a trading volume of 128,658 shares, compared to its average volume of 898,500. The business has a 50 day moving average of $15.78 and a 200 day moving average of $14.36. DNOW Inc. has a 12-month low of $11.42 and a 12-month high of $18.45. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 21.21 and a beta of 1.21.

DNOW (NYSE:DNOW - Get Free Report) last posted its earnings results on Thursday, February 13th. The oil and gas company reported $0.25 EPS 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%. As a group, research analysts expect that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

DNOW declared that its Board of Directors has authorized a share buyback program 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 purchase up to 10% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board 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.