DNOW Inc. (NYSE:DNOW) Shares Sold by Heartland Advisors Inc.

Heartland Advisors Inc. cut its holdings in shares of DNOW Inc. (NYSE:DNOW) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 527,000 shares of the oil and gas company’s stock after selling 20,200 shares during the period. Heartland Advisors Inc. owned 0.50% of DNOW worth $6,856,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its holdings in DNOW by 0.8% in the fourth quarter. Teacher Retirement System of Texas now owns 100,117 shares of the oil and gas company’s stock worth $1,303,000 after acquiring an additional 792 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of DNOW by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 885 shares during the period. Highland Capital Management LLC raised its stake in shares of DNOW by 6.7% during the 4th quarter. Highland Capital Management LLC now owns 17,514 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 1,097 shares during the last quarter. Franklin Resources Inc. raised its position in DNOW by 0.6% during the third quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company’s stock valued at $2,761,000 after acquiring an additional 1,278 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in shares of DNOW by 10.1% during 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 in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Trading Down 1.4 %

Shares of NYSE DNOW opened at $17.06 on Friday. The stock has a market cap of $1.80 billion, a P/E ratio of 23.36 and a beta of 1.51. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45. The stock has a 50 day moving average of $15.54 and a two-hundred day moving average of $14.08.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, beating 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, research analysts predict that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW declared that its Board of Directors has approved a share buyback program 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 repurchase up to 10% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

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

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.