DNOW Inc. (NYSE:DNOW) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in shares of DNOW Inc. (NYSE:DNOW) by 0.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,066,258 shares of the oil and gas company’s stock after selling 2,752 shares during the period. Charles Schwab Investment Management Inc. owned about 1.94% of DNOW worth $26,717,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pacer Advisors Inc. lifted its position in shares of DNOW by 71.5% during the 2nd quarter. Pacer Advisors Inc. now owns 7,047,909 shares of the oil and gas company’s stock valued at $96,768,000 after acquiring an additional 2,939,502 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of DNOW by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 6,446,637 shares of the oil and gas company’s stock worth $88,511,000 after buying an additional 390,671 shares during the period. Renaissance Technologies LLC boosted its position in shares of DNOW by 1.6% in the second quarter. Renaissance Technologies LLC now owns 3,819,745 shares of the oil and gas company’s stock worth $52,445,000 after buying an additional 59,653 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of DNOW by 1.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,701,685 shares of the oil and gas company’s stock worth $50,824,000 after buying an additional 42,384 shares during the period. Finally, Global Alpha Capital Management Ltd. boosted its position in shares of DNOW by 1.9% in the third quarter. Global Alpha Capital Management Ltd. now owns 2,622,426 shares of the oil and gas company’s stock worth $33,908,000 after buying an additional 48,900 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Stock Down 0.4 %

Shares of DNOW stock opened at $15.17 on Thursday. The stock has a market cap of $1.61 billion, a PE ratio of 8.11 and a beta of 1.50. DNOW Inc. has a 12 month low of $9.44 and a 12 month high of $15.65. The business has a fifty day simple moving average of $13.34 and a 200-day simple moving average of $13.39.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $606.00 million during the quarter, compared to analysts’ expectations of $614.92 million. DNOW had a return on equity of 8.90% and a net margin of 8.70%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 earnings per share. Analysts expect that DNOW Inc. will post 0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com raised DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th.

Insider Activity at DNOW

In other DNOW news, Director Paul M. Coppinger sold 26,186 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $15.35, for a total transaction of $401,955.10. Following the transaction, the director now directly owns 56,568 shares in the company, valued at $868,318.80. This trade represents a 31.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company’s stock.

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.