DNOW Inc. (NYSE:DNOW) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its holdings in DNOW Inc. (NYSE:DNOW) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 214,927 shares of the oil and gas company’s stock after selling 1,316 shares during the period. Franklin Resources Inc. owned about 0.20% of DNOW worth $2,796,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its position in shares of DNOW by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,091,660 shares of the oil and gas company’s stock worth $27,212,000 after purchasing an additional 25,402 shares during the last quarter. Amundi increased its holdings in DNOW by 186.4% in the fourth quarter. Amundi now owns 51,501 shares of the oil and gas company’s stock valued at $667,000 after buying an additional 33,520 shares during the last quarter. KBC Group NV raised its stake in DNOW by 72.4% during the fourth quarter. KBC Group NV now owns 6,560 shares of the oil and gas company’s stock valued at $85,000 after buying an additional 2,754 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in DNOW by 6.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,843,620 shares of the oil and gas company’s stock worth $23,985,000 after buying an additional 112,135 shares during the last quarter. Finally, Verition Fund Management LLC grew its position 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 in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on DNOW. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Stifel Nicolaus raised 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.

DNOW Trading Up 1.8 %

Shares of DNOW stock opened at $15.37 on Friday. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 21.05 and a beta of 1.21. The business’s 50 day simple moving average is $15.77 and its 200-day simple moving average is $14.33.

DNOW (NYSE:DNOW) last posted its earnings results on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. DNOW had a return on equity of 9.04% and a net margin of 3.41%. Sell-side analysts predict that DNOW Inc. will post 0.86 earnings per share for the current year.

DNOW declared that its board has approved a stock repurchase program 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 reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management 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.