DNOW Inc. (NYSE:DNOW) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its holdings in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 94.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,707 shares of the oil and gas company's stock after selling 43,398 shares during the quarter. Federated Hermes Inc.'s holdings in DNOW were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in shares of DNOW by 9.4% during the 4th quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company's stock valued at $82,063,000 after buying an additional 543,403 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of DNOW during the fourth quarter valued at approximately $3,903,000. Norges Bank acquired a new position in shares of DNOW during the fourth quarter worth $3,856,000. Brandywine Global Investment Management LLC acquired a new stake in DNOW during the 4th quarter valued at $2,766,000. Finally, JPMorgan Chase & Co. increased its stake in DNOW by 6.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company's stock worth $23,985,000 after buying an additional 112,135 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DNOW has been the subject of a number of recent analyst reports. Susquehanna lowered their price objective on DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. StockNews.com downgraded shares of DNOW from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Stifel Nicolaus boosted their target price 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 Trading Down 3.9 %

DNOW stock traded down $0.62 during mid-day trading on Monday, reaching $15.25. The company's stock had a trading volume of 1,081,446 shares, compared to its average volume of 918,717. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45. The business has a 50 day moving average price of $15.90 and a 200-day moving average price of $14.45. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 20.89 and a beta of 1.21.

DNOW (NYSE:DNOW - Get Free Report) last released its quarterly earnings data 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%. On average, equities analysts expect that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW declared that its Board of Directors has initiated a stock repurchase plan on Friday, January 24th that permits the company to buyback $160.00 million in shares. This buyback authorization permits the oil and gas company to buy up to 10% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

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.