DNOW Inc. $DNOW Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund increased its position in shares of DNOW Inc. (NYSE:DNOW) by 25.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 864,495 shares of the oil and gas company’s stock after purchasing an additional 174,544 shares during the period. New York State Common Retirement Fund owned approximately 0.81% of DNOW worth $13,184,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. TradeLink Capital LLC acquired a new position in DNOW during the 3rd quarter worth approximately $241,000. Y Intercept Hong Kong Ltd boosted its stake in shares of DNOW by 58.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 234,617 shares of the oil and gas company’s stock valued at $3,578,000 after buying an additional 86,509 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in DNOW by 26.2% during the third quarter. Teacher Retirement System of Texas now owns 115,325 shares of the oil and gas company’s stock worth $1,759,000 after acquiring an additional 23,926 shares during the period. Parkside Financial Bank & Trust raised its position in DNOW by 2,101.7% in the third quarter. Parkside Financial Bank & Trust now owns 2,620 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 2,501 shares in the last quarter. Finally, Strs Ohio lifted its holdings in DNOW by 4.9% in the third quarter. Strs Ohio now owns 53,200 shares of the oil and gas company’s stock valued at $811,000 after acquiring an additional 2,500 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.

DNOW Stock Performance

DNOW stock opened at $15.55 on Tuesday. DNOW Inc. has a fifty-two week low of $12.01 and a fifty-two week high of $18.45. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 17.88 and a beta of 0.76. The stock has a fifty day moving average of $14.00 and a two-hundred day moving average of $14.54.

DNOW (NYSE:DNOW) last posted its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $634.00 million for the quarter, compared to analyst estimates of $637.13 million. DNOW had a return on equity of 9.35% and a net margin of 3.91%.The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 earnings per share. On average, analysts forecast that DNOW Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on DNOW shares. KeyCorp set a $19.00 price target on shares of DNOW in a report on Thursday, December 18th. Zacks Research upgraded DNOW from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Wall Street Zen cut DNOW from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. Susquehanna upgraded DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price target for the company in a research report on Friday, November 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of DNOW in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $17.67.

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.