Dimensional Fund Advisors LP Reduces Position in DNOW Inc. $DNOW

Key Points

• Dimensional Fund Advisors LP reduced its stake in DNOW Inc. by 3.7%, now holding approximately 6.12% of the company valued at $110.4 million after selling 249,480 shares.
• DNOW reported a net margin of 3.45% and earnings of $0.27 per share, surpassing analysts' estimates, despite a .8% decline in quarterly revenue year-over-year.
• Institutional investors currently own 97.63% of DNOW's stock, with several firms significantly increasing their positions in the first quarter.

Dimensional Fund Advisors LP lowered its stake in DNOW Inc. (NYSE:DNOW - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,466,326 shares of the oil and gas company's stock after selling 249,480 shares during the quarter. Dimensional Fund Advisors LP owned approximately 6.12% of DNOW worth $110,443,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC lifted its position in DNOW by 122.1% in the first quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company's stock valued at $32,000 after purchasing an additional 1,022 shares during the last quarter. Headlands Technologies LLC lifted its position in DNOW by 21,663.6% in the first quarter. Headlands Technologies LLC now owns 2,394 shares of the oil and gas company's stock valued at $41,000 after purchasing an additional 2,383 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in DNOW in the first quarter valued at approximately $58,000. Quarry LP lifted its position in DNOW by 69.2% in the fourth quarter. Quarry LP now owns 5,578 shares of the oil and gas company's stock valued at $73,000 after purchasing an additional 2,281 shares during the last quarter. Finally, Covestor Ltd lifted its position in DNOW by 437.2% in the first quarter. Covestor Ltd now owns 4,507 shares of the oil and gas company's stock valued at $76,000 after purchasing an additional 3,668 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors.

DNOW Price Performance

DNOW stock traded up $0.26 during midday trading on Thursday, hitting $16.21. The stock had a trading volume of 649,502 shares, compared to its average volume of 1,269,510. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 21.32 and a beta of 1.13. The business has a 50-day moving average of $14.90 and a two-hundred day moving average of $15.33. DNOW Inc. has a 52-week low of $11.42 and a 52-week high of $18.45.

DNOW (NYSE:DNOW - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. DNOW had a return on equity of 8.97% and a net margin of 3.45%.The business had revenue of $628.00 million for the quarter, compared to the consensus estimate of $612.60 million. During the same period in the previous year, the company posted $0.25 earnings per share. The company's revenue for the quarter was down .8% compared to the same quarter last year. Research analysts predict that DNOW Inc. will post 0.86 earnings per share for the current year.

Wall Street Analyst Weigh In

DNOW has been the topic of several research analyst reports. Zacks Research raised DNOW to a "strong-buy" rating in a research note on Friday, August 8th. Stifel Nicolaus reduced their target price on DNOW from $19.00 to $18.00 and set a "buy" rating on the stock in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $18.00.

DNOW 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.