Barrow Hanley Mewhinney & Strauss LLC Decreases Stock Position in DNOW Inc. (NYSE:DNOW)

Barrow Hanley Mewhinney & Strauss LLC cut its stake in DNOW Inc. (NYSE:DNOW) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,524,050 shares of the oil and gas company’s stock after selling 151,299 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned about 3.33% of DNOW worth $45,848,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of DNOW. Pacer Advisors Inc. lifted its holdings in shares of DNOW by 9.4% in the 4th quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company’s stock worth $82,063,000 after acquiring an additional 543,403 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in DNOW by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,387,769 shares of the oil and gas company’s stock worth $31,065,000 after purchasing an additional 128,252 shares during the last quarter. First Trust Advisors LP lifted its stake in DNOW by 0.7% in the fourth quarter. First Trust Advisors LP now owns 2,197,167 shares of the oil and gas company’s stock worth $28,585,000 after purchasing an additional 15,869 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of DNOW by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company’s stock valued at $27,212,000 after buying an additional 25,402 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of DNOW by 6.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company’s stock valued at $23,985,000 after buying an additional 112,135 shares during the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Stock Performance

Shares of NYSE:DNOW opened at $14.57 on Friday. The firm has a market cap of $1.54 billion, a PE ratio of 19.96 and a beta of 1.20. The firm’s 50 day simple moving average is $15.71 and its 200-day simple moving average is $14.95. DNOW Inc. has a one year low of $11.42 and a one year high of $18.45.

DNOW (NYSE:DNOW) last announced 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. The company had revenue of $599.00 million for the quarter, compared to analysts’ expectations of $587.17 million. DNOW had a return on equity of 9.04% and a net margin of 3.41%. DNOW’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.21 earnings per share. Equities research analysts predict that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW declared that its Board of Directors has approved a stock repurchase plan on Friday, January 24th that permits the company to buyback $160.00 million in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

DNOW has been the subject of a number of research analyst reports. Susquehanna decreased their price target on DNOW from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Wall Street Zen upgraded DNOW from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th. Finally, Stifel Nicolaus lowered their target price on shares of DNOW from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, May 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.