DNOW Inc. (NYSE:DNOW) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. reduced its position in DNOW Inc. (NYSE:DNOW) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,023,167 shares of the oil and gas company’s stock after selling 10,432 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in DNOW were worth $13,311,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas lifted its stake in shares of DNOW by 0.8% in the 4th quarter. Teacher Retirement System of Texas now owns 100,117 shares of the oil and gas company’s stock valued at $1,303,000 after purchasing an additional 792 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of DNOW by 78.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 885 shares in the last quarter. Highland Capital Management LLC lifted its stake in shares of DNOW by 6.7% in 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 purchasing an additional 1,097 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of DNOW by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company’s stock valued at $2,761,000 after buying an additional 1,278 shares during the period. Finally, CoreCommodity Management LLC raised its holdings in shares of DNOW by 1.4% during the 4th quarter. CoreCommodity Management LLC now owns 95,471 shares of the oil and gas company’s stock valued at $1,242,000 after buying an additional 1,364 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Stock Performance

Shares of NYSE:DNOW opened at $15.14 on Tuesday. DNOW Inc. has a one year low of $11.42 and a one year high of $18.45. The business’s 50-day simple moving average is $15.68 and its 200 day simple moving average is $14.79. The company has a market cap of $1.60 billion, a P/E ratio of 20.74 and a beta of 1.20.

DNOW (NYSE:DNOW) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. DNOW had a return on equity of 9.04% and a net margin of 3.41%. The company had revenue of $599.00 million for the quarter, compared to the consensus estimate of $587.17 million. During the same period in the previous year, the business earned $0.21 EPS. DNOW’s revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts predict that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW announced that its Board of Directors has authorized a share buyback plan on Friday, January 24th that permits the company to repurchase $160.00 million in shares. This repurchase authorization permits the oil and gas company to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently commented on DNOW shares. Stifel Nicolaus dropped their target price on DNOW from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Susquehanna dropped their target price on DNOW from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a report on Saturday, April 26th.

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.