Teacher Retirement System of Texas Has $1.51 Million Position in DNOW Inc. (NYSE:DNOW)

Teacher Retirement System of Texas cut its position in DNOW Inc. (NYSE:DNOW) by 11.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,578 shares of the oil and gas company’s stock after selling 11,539 shares during the period. Teacher Retirement System of Texas owned 0.08% of DNOW worth $1,513,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake 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 buying an additional 1,022 shares during the last quarter. Quarry LP raised its position in DNOW by 69.2% during the fourth quarter. Quarry LP now owns 5,578 shares of the oil and gas company’s stock valued at $73,000 after purchasing an additional 2,281 shares in the last quarter. Quantinno Capital Management LP acquired a new position in shares of DNOW during the fourth quarter worth $166,000. Polymer Capital Management US LLC bought a new stake in shares of DNOW in the fourth quarter worth $192,000. Finally, Man Group plc bought a new stake in shares of DNOW in the fourth quarter worth $203,000. Institutional investors own 97.63% of the company’s stock.

DNOW Stock Performance

Shares of NYSE:DNOW opened at $13.65 on Friday. DNOW Inc. has a 52-week low of $11.42 and a 52-week high of $18.45. The firm has a fifty day moving average of $14.81 and a 200 day moving average of $15.02. The firm has a market capitalization of $1.44 billion, a PE ratio of 18.45 and a beta of 1.08.

DNOW (NYSE:DNOW) last posted its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating 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 business had revenue of $599.00 million during the quarter, compared to analyst estimates of $587.17 million. During the same period in the prior year, the business posted $0.21 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts forecast that DNOW Inc. will post 0.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of DNOW from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. 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, Wall Street Zen upgraded shares of DNOW from a “hold” rating to a “buy” rating in a report on Saturday, April 26th.

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.