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

Charles Schwab Investment Management Inc. increased its position in shares of DNOW Inc. (NYSE:DNOW) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,091,660 shares of the oil and gas company’s stock after purchasing an additional 25,402 shares during the period. Charles Schwab Investment Management Inc. owned 1.98% of DNOW worth $27,212,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Bailard Inc. purchased a new stake in DNOW in the fourth quarter valued at $511,000. Smartleaf Asset Management LLC increased its position in shares of 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. Versor Investments LP lifted its position in DNOW by 43.0% in the fourth quarter. Versor Investments LP now owns 51,234 shares of the oil and gas company’s stock valued at $667,000 after buying an additional 15,400 shares during the last quarter. Principal Financial Group Inc. lifted its position in DNOW by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 513,304 shares of the oil and gas company’s stock valued at $6,678,000 after buying an additional 11,441 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in DNOW by 5.1% during the fourth quarter. Empowered Funds LLC now owns 563,089 shares of the oil and gas company’s stock worth $7,326,000 after buying an additional 27,429 shares during the period. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Price Performance

NYSE DNOW opened at $15.14 on Tuesday. The company has a market cap of $1.60 billion, a P/E ratio of 20.74 and a beta of 1.51. DNOW Inc. has a 1-year low of $11.42 and a 1-year high of $18.45. The stock has a 50-day moving average of $14.94 and a two-hundred day moving average of $13.84.

DNOW (NYSE:DNOW) last announced its earnings results 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, analysts anticipate that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW announced that its board has initiated a share repurchase plan 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 buy up to 10% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Stifel Nicolaus upped their price objective on shares of DNOW from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, February 14th. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th.

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.