Dimensional Fund Advisors LP Boosts Stake in DNOW Inc. (NYSE:DNOW)

Dimensional Fund Advisors LP raised its position in DNOW Inc. (NYSE:DNOW) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,095,429 shares of the oil and gas company’s stock after purchasing an additional 161,840 shares during the quarter. Dimensional Fund Advisors LP owned 5.73% of DNOW worth $69,001,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Illinois Municipal Retirement Fund purchased a new position in DNOW in the third quarter valued at approximately $709,000. New York State Common Retirement Fund raised its stake in shares of DNOW by 6.9% in the 3rd quarter. New York State Common Retirement Fund now owns 870,959 shares of the oil and gas company’s stock valued at $10,338,000 after acquiring an additional 56,319 shares during the period. Monaco Asset Management SAM lifted its holdings in shares of DNOW by 33.2% during the 3rd quarter. Monaco Asset Management SAM now owns 306,756 shares of the oil and gas company’s stock valued at $3,641,000 after acquiring an additional 76,424 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in DNOW by 25.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,666 shares of the oil and gas company’s stock worth $162,000 after purchasing an additional 2,772 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in DNOW by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,940,196 shares of the oil and gas company’s stock valued at $23,030,000 after purchasing an additional 10,400 shares in the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Stock Performance

NYSE:DNOW opened at $14.18 on Friday. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 6.53 and a beta of 1.48. DNOW Inc. has a one year low of $8.83 and a one year high of $15.57. The business’s 50-day simple moving average is $14.61 and its 200 day simple moving average is $12.38.

DNOW (NYSE:DNOW) last posted its quarterly earnings data on Friday, May 10th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). The business had revenue of $563.00 million for the quarter, compared to analysts’ expectations of $569.15 million. DNOW had a return on equity of 10.39% and a net margin of 10.30%. DNOW’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, equities research analysts predict that DNOW Inc. will post 1.06 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on DNOW from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Susquehanna lowered their price objective on shares of DNOW from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Finally, StockNews.com cut shares of DNOW from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th.

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.