DNOW Inc. (NYSE:DNOW) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC reduced its position in shares of DNOW Inc. (NYSE:DNOW) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 741,723 shares of the oil and gas company’s stock after selling 9,224 shares during the period. River Road Asset Management LLC owned 0.70% of DNOW worth $8,396,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC boosted its position in shares of DNOW by 101.9% in the third quarter. AQR Capital Management LLC now owns 451,370 shares of the oil and gas company’s stock worth $5,358,000 after acquiring an additional 227,810 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of DNOW by 123.5% in the third quarter. Wellington Management Group LLP now owns 808,800 shares of the oil and gas company’s stock worth $9,600,000 after acquiring an additional 447,000 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of DNOW in the third quarter worth approximately $709,000. New York State Teachers Retirement System boosted its position in shares of DNOW by 1.2% in the fourth quarter. New York State Teachers Retirement System now owns 216,263 shares of the oil and gas company’s stock worth $2,448,000 after acquiring an additional 2,469 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of DNOW by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,940,196 shares of the oil and gas company’s stock worth $23,030,000 after acquiring an additional 10,400 shares during the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Stock Down 1.9 %

Shares of DNOW stock opened at $14.62 on Thursday. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 6.47 and a beta of 1.48. DNOW Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $15.57. The firm’s 50 day moving average price is $13.92 and its two-hundred day moving average price is $11.84.

DNOW (NYSE:DNOW) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The firm had revenue of $555.00 million for the quarter, compared to analysts’ expectations of $540.83 million. DNOW had a net margin of 10.64% and a return on equity of 11.60%. DNOW’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share. On average, equities analysts forecast that DNOW Inc. will post 1.02 EPS for the current fiscal year.

Analyst Ratings Changes

DNOW has been the topic of several research analyst reports. Stifel Nicolaus raised their target price on shares of DNOW from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. StockNews.com lowered shares of DNOW from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th. Finally, Susquehanna lifted their price target on shares of DNOW from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, April 8th.

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.