State of Alaska Department of Revenue Sells 1,613 Shares of DNOW Inc. (NYSE:DNOW)

State of Alaska Department of Revenue cut its position in DNOW Inc. (NYSE:DNOW) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,542 shares of the oil and gas company’s stock after selling 1,613 shares during the period. State of Alaska Department of Revenue owned about 0.06% of DNOW worth $999,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DNOW. Smartleaf Asset Management LLC raised its holdings in shares of DNOW by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 885 shares during the period. GAMMA Investing LLC lifted its holdings in shares of DNOW by 122.1% during the 1st quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 1,022 shares during the period. Quarry LP lifted its holdings in shares of DNOW by 69.2% during the 4th quarter. Quarry LP now owns 5,578 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 2,281 shares during the period. Quantinno Capital Management LP bought a new position in DNOW in the 4th quarter valued at approximately $166,000. Finally, Polymer Capital Management US LLC bought a new position in DNOW in the 4th quarter valued at approximately $192,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Stock Up 3.0%

DNOW stock opened at $15.05 on Friday. DNOW Inc. has a twelve month low of $11.42 and a twelve month high of $18.45. The firm has a 50 day moving average price of $15.18 and a 200-day moving average price of $14.99. The company has a market capitalization of $1.59 billion, a P/E ratio of 20.33 and a beta of 1.09.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. DNOW had a net margin of 3.40% and a return on equity of 9.00%. The company had revenue of $599.00 million during the quarter, compared to the consensus estimate of $587.17 million. During the same period last year, the firm earned $0.21 EPS. DNOW’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities analysts expect that DNOW Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of DNOW from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th. Susquehanna lowered their target price on shares of DNOW from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Stifel Nicolaus decreased their price objective on shares of DNOW from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, May 8th.

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.