Barrow Hanley Mewhinney & Strauss LLC Trims Stock Position in DNOW Inc. (NYSE:DNOW)

Barrow Hanley Mewhinney & Strauss LLC decreased its position in DNOW Inc. (NYSE:DNOW) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,524,050 shares of the oil and gas company’s stock after selling 151,299 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned 3.33% of DNOW worth $45,848,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DNOW. Intech Investment Management LLC grew its holdings in shares of DNOW by 129.4% during the 3rd quarter. Intech Investment Management LLC now owns 32,184 shares of the oil and gas company’s stock worth $416,000 after purchasing an additional 18,157 shares during the period. Quantbot Technologies LP boosted its stake in DNOW by 159.8% during the third quarter. Quantbot Technologies LP now owns 77,487 shares of the oil and gas company’s stock worth $1,002,000 after buying an additional 47,659 shares during the period. Martingale Asset Management L P raised its stake in shares of DNOW by 17.8% in the 3rd quarter. Martingale Asset Management L P now owns 129,266 shares of the oil and gas company’s stock valued at $1,671,000 after acquiring an additional 19,578 shares during the period. Verition Fund Management LLC lifted its holdings in shares of DNOW by 181.9% in the 3rd quarter. Verition Fund Management LLC now owns 28,283 shares of the oil and gas company’s stock worth $366,000 after acquiring an additional 18,251 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of DNOW by 9.7% during the 3rd quarter. HighTower Advisors LLC now owns 16,541 shares of the oil and gas company’s stock worth $211,000 after purchasing an additional 1,458 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

DNOW has been the topic of a number of research analyst reports. StockNews.com raised DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Stifel Nicolaus boosted their price objective on DNOW from $17.00 to $20.00 and gave the company a “buy” rating in a report on Friday, February 14th.

DNOW Stock Performance

Shares of DNOW stock opened at $17.06 on Monday. DNOW Inc. has a fifty-two week low of $11.42 and a fifty-two week high of $18.45. The company has a 50 day moving average price of $15.54 and a 200 day moving average price of $14.11. The stock has a market capitalization of $1.80 billion, a P/E ratio of 23.36 and a beta of 1.51.

DNOW (NYSE:DNOW) last posted its quarterly 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%. On average, research analysts forecast 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 authorizes the company to repurchase $160.00 million in shares. This repurchase authorization authorizes the oil and gas company to buy up to 10% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is 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.