Nisa Investment Advisors LLC Sells 5,030 Shares of DNOW Inc. (NYSE:DNOW)

Nisa Investment Advisors LLC reduced its stake in DNOW Inc. (NYSE:DNOW) by 43.9% during the 4th quarter, Holdings Channel reports. The fund owned 6,435 shares of the oil and gas company’s stock after selling 5,030 shares during the period. Nisa Investment Advisors LLC’s holdings in DNOW were worth $73,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of DNOW. Bank of New York Mellon Corp raised its holdings in DNOW by 2.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,119,251 shares of the oil and gas company’s stock valued at $12,345,000 after acquiring an additional 30,031 shares during the period. Citigroup Inc. raised its holdings in DNOW by 5.1% in the 1st quarter. Citigroup Inc. now owns 105,268 shares of the oil and gas company’s stock valued at $1,161,000 after acquiring an additional 5,070 shares during the period. PNC Financial Services Group Inc. raised its holdings in DNOW by 60.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the oil and gas company’s stock valued at $75,000 after acquiring an additional 2,546 shares during the period. MetLife Investment Management LLC raised its holdings in DNOW by 63.5% in the 1st quarter. MetLife Investment Management LLC now owns 57,892 shares of the oil and gas company’s stock valued at $639,000 after acquiring an additional 22,488 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in DNOW by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 95,313 shares of the oil and gas company’s stock valued at $1,051,000 after acquiring an additional 11,752 shares during the period. 97.63% of the stock is owned by institutional investors.

DNOW Trading Down 0.5 %

NYSE DNOW opened at $14.65 on Monday. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 6.48 and a beta of 1.48. The firm’s 50 day simple moving average is $14.12 and its 200 day simple moving average is $11.88. DNOW Inc. has a 1 year low of $8.83 and a 1 year high of $15.57.

DNOW (NYSE:DNOW) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.07. The business had revenue of $555.00 million for the quarter, compared to analyst estimates of $540.83 million. DNOW had a net margin of 10.64% and a return on equity of 11.60%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. On average, equities research analysts forecast that DNOW Inc. will post 1.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DNOW. Susquehanna raised their target price on shares of DNOW from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Stifel Nicolaus raised their target price on shares of DNOW from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, StockNews.com cut shares of DNOW from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th.

About DNOW

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.