Texas Permanent School Fund Corp Trims Stock Position in NOW Inc. (NYSE:DNOW)

Texas Permanent School Fund Corp trimmed its holdings in NOW Inc. (NYSE:DNOW) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,188 shares of the oil and gas company’s stock after selling 4,855 shares during the quarter. Texas Permanent School Fund Corp owned 0.09% of NOW worth $976,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of NOW by 1.9% in the third quarter. Vanguard Group Inc. now owns 13,084,978 shares of the oil and gas company’s stock worth $131,504,000 after buying an additional 242,979 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in NOW by 12.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,255,868 shares of the oil and gas company’s stock worth $69,752,000 after purchasing an additional 678,956 shares in the last quarter. Renaissance Technologies LLC boosted its position in NOW by 2.1% in the 1st quarter. Renaissance Technologies LLC now owns 5,126,979 shares of the oil and gas company’s stock worth $56,551,000 after purchasing an additional 105,253 shares in the last quarter. State Street Corp grew its stake in shares of NOW by 2.1% during the 2nd quarter. State Street Corp now owns 4,051,649 shares of the oil and gas company’s stock worth $39,625,000 after purchasing an additional 81,846 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of NOW by 4.6% during the 1st quarter. JPMorgan Chase & Co. now owns 2,945,697 shares of the oil and gas company’s stock valued at $32,844,000 after purchasing an additional 128,368 shares in the last quarter. 95.50% of the stock is owned by institutional investors and hedge funds.

NOW Stock Up 2.3 %

Shares of NYSE DNOW opened at $10.33 on Monday. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 8.68 and a beta of 1.51. The company’s 50-day simple moving average is $11.28 and its 200-day simple moving average is $10.73. NOW Inc. has a 52-week low of $8.83 and a 52-week high of $14.86.

Analyst Ratings Changes

A number of research firms have weighed in on DNOW. Stifel Nicolaus lifted their price objective on shares of NOW from $13.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, September 28th. Susquehanna lifted their price target on NOW from $10.50 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, October 4th. Finally, StockNews.com assumed coverage on NOW in a research report on Thursday, October 5th. They set a “buy” rating on the stock.

NOW Profile

NOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and industrial manufacturing operations in the United States, Canada, and internationally. It offers its products under the DistributionNOW and DNOW brand names.