Barrow Hanley Mewhinney & Strauss LLC Buys Shares of 3,279,914 DNOW Inc. $DNOW

Key Points

• Barrow Hanley Mewhinney & Strauss LLC acquired 3.28 million DNOW shares worth approximately $42.5 million, giving it a 1.81% stake. Institutional investors collectively own 97.63% of the company.
• DNOW reported quarterly earnings of $0.12 per share, beating estimates by $0.03, while revenue reached $1.31 billion and increased 108.1% year over year.
• Analyst sentiment is generally positive, with DNOW receiving a consensus “Moderate Buy” rating and an average price target of $18.25, above its reported share price of $15.69.

Barrow Hanley Mewhinney & Strauss LLC acquired a new position in DNOW Inc. (NYSE:DNOW - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,279,914 shares of the oil and gas company's stock, valued at approximately $42,540,000. Barrow Hanley Mewhinney & Strauss LLC owned 1.81% of DNOW as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Commerce Bank purchased a new stake in DNOW in the second quarter worth about $708,000. Quantbot Technologies LP purchased a new position in shares of DNOW during the 2nd quarter valued at about $777,000. William Blair Investment Management LLC bought a new position in shares of DNOW during the 2nd quarter valued at approximately $12,860,000. Heartland Advisors Inc. bought a new position in shares of DNOW during the 2nd quarter valued at approximately $7,782,000. Finally, TrinityBridge Ltd purchased a new stake in DNOW in the 2nd quarter worth approximately $54,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Stock Up 0.1%

Shares of DNOW opened at $15.69 on Monday. The business has a fifty day moving average of $14.16 and a 200 day moving average of $13.44. The company has a market cap of $2.84 billion, a PE ratio of -14.66 and a beta of 0.82. The company has a quick ratio of 1.06, a current ratio of 2.14 and a debt-to-equity ratio of 0.23. DNOW Inc. has a 52-week low of $10.94 and a 52-week high of $17.26.

DNOW (NYSE:DNOW - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The oil and gas company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. DNOW had a positive return on equity of 3.91% and a negative net margin of 4.58%.DNOW's quarterly revenue was up 108.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 EPS. On average, sell-side analysts expect that DNOW Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DNOW shares. DA Davidson lifted their target price on shares of DNOW from $17.00 to $19.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Zacks Research upgraded DNOW from a "strong sell" rating to a "hold" rating in a research note on Friday, May 22nd. Wall Street Zen upgraded DNOW from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Freedom Capital raised DNOW to a "strong-buy" rating in a research note on Monday, June 22nd. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of DNOW in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, DNOW has an average rating of "Moderate Buy" and a consensus target price of $18.25.

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.

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