DNOW Inc. (NYSE:DNOW) Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC lowered its holdings in DNOW Inc. (NYSE:DNOW) by 0.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 243,934 shares of the oil and gas company’s stock after selling 2,000 shares during the period. First Eagle Investment Management LLC owned approximately 0.23% of DNOW worth $3,174,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DNOW. Pacer Advisors Inc. grew its holdings in shares of DNOW by 9.4% in the fourth quarter. Pacer Advisors Inc. now owns 6,307,678 shares of the oil and gas company’s stock valued at $82,063,000 after purchasing an additional 543,403 shares in the last quarter. Foundry Partners LLC grew its holdings in DNOW by 832.0% during the 3rd quarter. Foundry Partners LLC now owns 365,795 shares of the oil and gas company’s stock worth $4,730,000 after acquiring an additional 326,547 shares in the last quarter. Raymond James Financial Inc. acquired a new position in DNOW during the 4th quarter worth approximately $3,903,000. Weiss Asset Management LP acquired a new position in DNOW during the 3rd quarter worth approximately $2,025,000. Finally, Barclays PLC grew its holdings in DNOW by 44.6% during the 3rd quarter. Barclays PLC now owns 346,657 shares of the oil and gas company’s stock worth $4,484,000 after acquiring an additional 106,927 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analyst Upgrades and Downgrades

DNOW has been the subject of several analyst reports. StockNews.com upgraded shares of DNOW from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Stifel Nicolaus boosted their price target on shares of DNOW from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, February 14th.

DNOW Trading Up 2.9 %

Shares of NYSE:DNOW opened at $14.88 on Friday. The company has a market capitalization of $1.57 billion, a PE ratio of 20.39 and a beta of 1.51. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45. The firm has a 50 day simple moving average of $14.90 and a 200-day simple moving average of $13.82.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, topping 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, equities research analysts predict that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW announced that its board has approved a stock repurchase plan on Friday, January 24th that allows the company to repurchase $160.00 million in shares. This repurchase authorization allows the oil and gas company to reacquire up to 10% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

DNOW Company Profile

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.