Barrow Hanley Mewhinney & Strauss LLC Has $50.12 Million Position in DNOW Inc. $DNOW

Barrow Hanley Mewhinney & Strauss LLC lessened its stake in shares of DNOW Inc. (NYSE:DNOW) by 5.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,286,361 shares of the oil and gas company’s stock after selling 194,845 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned about 3.13% of DNOW worth $50,117,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DNOW. Royal Bank of Canada increased its stake in DNOW by 28.2% during the 1st quarter. Royal Bank of Canada now owns 35,783 shares of the oil and gas company’s stock valued at $611,000 after purchasing an additional 7,867 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of DNOW by 53.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 358,708 shares of the oil and gas company’s stock valued at $6,127,000 after buying an additional 124,797 shares in the last quarter. Prospera Financial Services Inc grew its holdings in shares of DNOW by 33.9% during the second quarter. Prospera Financial Services Inc now owns 23,780 shares of the oil and gas company’s stock valued at $353,000 after buying an additional 6,015 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of DNOW during the second quarter valued at about $162,000. Finally, Geode Capital Management LLC increased its position in shares of DNOW by 1.3% during the second quarter. Geode Capital Management LLC now owns 2,524,052 shares of the oil and gas company’s stock worth $37,437,000 after acquiring an additional 32,317 shares in the last quarter. 97.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Susquehanna raised shares of DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price objective on the stock in a report on Friday, November 21st. Weiss Ratings lowered shares of DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, February 27th. KeyCorp set a $19.00 price target on shares of DNOW in a report on Thursday, December 18th. Zacks Research lowered shares of DNOW from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. Finally, Stifel Nicolaus dropped their target price on shares of DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $17.00.

DNOW Price Performance

DNOW opened at $11.64 on Wednesday. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -40.12 and a beta of 0.79. The company has a quick ratio of 1.11, a current ratio of 2.34 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $14.15 and a 200-day moving average price of $14.38. DNOW Inc. has a twelve month low of $11.34 and a twelve month high of $17.48.

DNOW (NYSE:DNOW) last posted its earnings results on Friday, February 20th. The oil and gas company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. The business had revenue of $959.00 million during the quarter, compared to analyst estimates of $969.50 million. DNOW had a positive return on equity of 7.26% and a negative net margin of 2.66%.The company’s quarterly revenue was up 68.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS. Equities analysts expect that DNOW Inc. will post 0.86 EPS for the current year.

About DNOW

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.