Louisiana State Employees Retirement System Sells 2,200 Shares of DNOW Inc. (NYSE:DNOW)

Louisiana State Employees Retirement System decreased its holdings in DNOW Inc. (NYSE:DNOW) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,500 shares of the oil and gas company’s stock after selling 2,200 shares during the period. Louisiana State Employees Retirement System’s holdings in DNOW were worth $666,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. First Eagle Investment Management LLC grew its stake in DNOW by 0.4% during the first quarter. First Eagle Investment Management LLC now owns 258,029 shares of the oil and gas company’s stock valued at $3,922,000 after acquiring an additional 1,000 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of DNOW by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 68,946 shares of the oil and gas company’s stock worth $947,000 after acquiring an additional 1,068 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of DNOW by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 93,060 shares of the oil and gas company’s stock worth $1,415,000 after acquiring an additional 1,205 shares during the last quarter. Arizona State Retirement System raised its holdings in DNOW by 4.3% during the 2nd quarter. Arizona State Retirement System now owns 30,485 shares of the oil and gas company’s stock valued at $419,000 after buying an additional 1,263 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in DNOW by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 21,473 shares of the oil and gas company’s stock valued at $326,000 after buying an additional 1,480 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

DNOW has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of DNOW from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Susquehanna decreased their price objective on shares of DNOW from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Finally, StockNews.com upgraded shares of DNOW from a “hold” rating to a “buy” rating in a report on Thursday, August 15th.

DNOW Price Performance

NYSE:DNOW opened at $11.87 on Tuesday. The firm’s 50-day moving average price is $12.42 and its 200-day moving average price is $13.33. The company has a market capitalization of $1.26 billion, a PE ratio of 5.73 and a beta of 1.45. DNOW Inc. has a 1-year low of $9.44 and a 1-year high of $15.65.

DNOW (NYSE:DNOW) last released its earnings results on Wednesday, August 7th. The oil and gas company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The business had revenue of $633.00 million during the quarter, compared to analysts’ expectations of $638.20 million. DNOW had a return on equity of 9.93% and a net margin of 9.70%. Equities analysts anticipate that DNOW Inc. will post 0.85 EPS for the current fiscal year.

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.