American Century Companies Inc. Reduces Holdings in DNOW Inc. (NYSE:DNOW)

American Century Companies Inc. lowered its stake in DNOW Inc. (NYSE:DNOW) by 1.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,714,739 shares of the oil and gas company’s stock after selling 18,379 shares during the period. American Century Companies Inc.’s holdings in DNOW were worth $22,309,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Teacher Retirement System of Texas lifted its position in shares of DNOW by 0.8% in the fourth 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 acquiring an additional 792 shares in the last quarter. Intech Investment Management LLC lifted its holdings in DNOW by 24.7% in the 4th quarter. Intech Investment Management LLC now owns 40,138 shares of the oil and gas company’s stock valued at $522,000 after purchasing an additional 7,954 shares in the last quarter. Royce & Associates LP boosted its stake in shares of DNOW by 15.1% during the 4th quarter. Royce & Associates LP now owns 705,407 shares of the oil and gas company’s stock worth $9,177,000 after purchasing an additional 92,769 shares during the last quarter. Inspire Advisors LLC grew its holdings in shares of DNOW by 8.8% during the fourth quarter. Inspire Advisors LLC now owns 28,643 shares of the oil and gas company’s stock worth $373,000 after buying an additional 2,312 shares in the last quarter. Finally, Amundi raised its position in shares of DNOW by 186.4% in the fourth quarter. Amundi now owns 51,501 shares of the oil and gas company’s stock valued at $667,000 after buying an additional 33,520 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

DNOW Stock Down 1.4 %

Shares of DNOW 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’s fifty day moving average is $15.54 and its two-hundred day moving average is $14.11. The firm has a market cap of $1.80 billion, a PE 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. DNOW had a return on equity of 9.04% and a net margin of 3.41%. As a group, equities research analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW announced that its board has initiated a share buyback program on Friday, January 24th that allows the company to buyback $160.00 million in shares. This buyback authorization allows the oil and gas company to buy up to 10% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DNOW. Stifel Nicolaus raised their target price on shares of DNOW from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a report 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.