Heartland Advisors Inc. Has $6.86 Million Holdings in DNOW Inc. (NYSE:DNOW)

Heartland Advisors Inc. cut its stake in DNOW Inc. (NYSE:DNOW) by 3.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 527,000 shares of the oil and gas company’s stock after selling 20,200 shares during the quarter. Heartland Advisors Inc.’s holdings in DNOW were worth $6,856,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Intech Investment Management LLC grew its position in shares of DNOW by 129.4% during the 3rd quarter. Intech Investment Management LLC now owns 32,184 shares of the oil and gas company’s stock worth $416,000 after buying an additional 18,157 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in DNOW during the third quarter valued at approximately $674,000. Quantbot Technologies LP boosted its position in shares of DNOW by 159.8% during the 3rd quarter. Quantbot Technologies LP now owns 77,487 shares of the oil and gas company’s stock valued at $1,002,000 after acquiring an additional 47,659 shares during the last quarter. Martingale Asset Management L P grew its position in DNOW by 17.8% in the third quarter. Martingale Asset Management L P now owns 129,266 shares of the oil and gas company’s stock worth $1,671,000 after acquiring an additional 19,578 shares in the last quarter. Finally, Verition Fund Management LLC lifted its holdings in shares of DNOW by 181.9% in the 3rd quarter. Verition Fund Management LLC now owns 28,283 shares of the oil and gas company’s stock worth $366,000 after acquiring an additional 18,251 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analyst Ratings Changes

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

DNOW Trading Down 1.4 %

Shares of DNOW stock opened at $17.06 on Friday. The firm’s 50 day simple moving average is $15.54 and its two-hundred day simple moving average is $14.08. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 23.36 and a beta of 1.51. DNOW Inc. has a 12-month low of $11.42 and a 12-month high of $18.45.

DNOW (NYSE:DNOW) last posted its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.11 by $0.14. DNOW had a return on equity of 9.04% and a net margin of 3.41%. On average, sell-side analysts predict that DNOW Inc. will post 0.86 EPS for the current fiscal year.

DNOW declared that its board has approved a stock buyback program 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 programs are usually an indication that the company’s leadership 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.