DNOW Inc. (NYSE:DNOW) Shares Sold by Sei Investments Co.

Sei Investments Co. lowered its holdings in shares of DNOW Inc. (NYSE:DNOW) by 25.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 50,236 shares of the oil and gas company’s stock after selling 17,442 shares during the period. Sei Investments Co.’s holdings in DNOW were worth $654,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Teacher Retirement System of Texas lifted its position in shares of DNOW by 0.8% during 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 buying an additional 792 shares in the last quarter. Smartleaf Asset Management LLC raised its position in DNOW by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 885 shares during the period. Highland Capital Management LLC raised its position in DNOW by 6.7% during the fourth quarter. Highland Capital Management LLC now owns 17,514 shares of the oil and gas company’s stock worth $228,000 after acquiring an additional 1,097 shares during the period. Franklin Resources Inc. lifted its holdings in DNOW by 0.6% during the third quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company’s stock valued at $2,761,000 after purchasing an additional 1,278 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its position in shares of DNOW by 10.1% in the third quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock valued at $182,000 after purchasing an additional 1,291 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DNOW has been the subject of several research analyst reports. Stifel Nicolaus upped their price target 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 research note on Thursday, February 27th.

DNOW Stock Down 1.9 %

Shares of DNOW opened at $14.14 on Wednesday. DNOW Inc. has a 52-week low of $11.42 and a 52-week high of $18.45. The stock has a market cap of $1.49 billion, a PE ratio of 19.38 and a beta of 1.21. The firm’s fifty day moving average is $15.74 and its two-hundred day moving average is $14.27.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts anticipate that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW announced that its Board of Directors has initiated 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 buy up to 10% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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.