Louisiana State Employees Retirement System bought a new stake in DNOW Inc. (NYSE:DNOW – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 53,200 shares of the oil and gas company’s stock, valued at approximately $602,000.
A number of other institutional investors also recently bought and sold shares of DNOW. SG Americas Securities LLC purchased a new stake in DNOW in the third quarter worth about $489,000. Bailard Inc. purchased a new stake in DNOW in the third quarter worth about $210,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in DNOW by 36.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,916 shares of the oil and gas company’s stock worth $272,000 after buying an additional 6,137 shares in the last quarter. Strs Ohio purchased a new stake in DNOW in the third quarter worth about $415,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in DNOW by 9.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,176,839 shares of the oil and gas company’s stock worth $13,969,000 after buying an additional 98,110 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.
DNOW Stock Performance
Shares of DNOW stock opened at $14.63 on Monday. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 6.47 and a beta of 1.48. The stock has a 50 day moving average price of $14.53 and a 200-day moving average price of $11.99. DNOW Inc. has a one year low of $8.83 and a one year high of $15.57.
Wall Street Analysts Forecast Growth
DNOW has been the subject of several research analyst reports. StockNews.com cut DNOW from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th. Susquehanna lifted their target price on DNOW from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus lifted their target price on DNOW from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, March 28th.
Check Out Our Latest Report on DNOW
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.
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