DNOW Inc. (NYSE:DNOW) Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its holdings in DNOW Inc. (NYSE:DNOW) by 1.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 216,263 shares of the oil and gas company’s stock after buying an additional 2,469 shares during the period. New York State Teachers Retirement System’s holdings in DNOW were worth $2,448,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in DNOW by 1.9% in the 3rd 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 stake in DNOW 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 buying an additional 678,956 shares during the last quarter. Renaissance Technologies LLC boosted its stake in DNOW 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 buying an additional 105,253 shares during the last quarter. American Century Companies Inc. boosted its stake in DNOW by 17.5% in the 3rd quarter. American Century Companies Inc. now owns 4,282,131 shares of the oil and gas company’s stock worth $50,829,000 after buying an additional 639,219 shares during the last quarter. Finally, State Street Corp boosted its stake in DNOW by 2.1% in 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 buying an additional 81,846 shares during the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on DNOW shares. Susquehanna lifted their price objective on DNOW from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. StockNews.com lowered DNOW from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th. Finally, Stifel Nicolaus lifted their price objective on DNOW from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, March 28th.

DNOW Stock Performance

Shares of NYSE:DNOW opened at $14.99 on Tuesday. The company has a market cap of $1.63 billion, a P/E ratio of 6.63 and a beta of 1.48. DNOW Inc. has a one year low of $8.83 and a one year high of $15.57. The business’s 50-day simple moving average is $13.72 and its 200 day simple moving average is $11.79.

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

DNOW Company 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.