New York State Teachers Retirement System Boosts Position in DNOW Inc. (NYSE:DNOW)

New York State Teachers Retirement System increased its holdings in shares of DNOW Inc. (NYSE:DNOW) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 216,263 shares of the oil and gas company’s stock after purchasing an additional 2,469 shares during the quarter. New York State Teachers Retirement System owned 0.20% of DNOW worth $2,448,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of DNOW by 1.9% during 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 purchasing an additional 242,979 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of DNOW by 12.2% during 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 purchasing an additional 678,956 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of DNOW by 2.1% during 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 purchasing an additional 105,253 shares during the last quarter. American Century Companies Inc. increased its position in shares of DNOW by 17.5% during 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 purchasing an additional 639,219 shares during the last quarter. Finally, State Street Corp increased its position in shares of DNOW by 2.1% during 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 purchasing an additional 81,846 shares during the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Price Performance

Shares of NYSE:DNOW opened at $14.99 on Tuesday. The firm has a market capitalization of $1.63 billion, a PE ratio of 6.63 and a beta of 1.48. The firm’s 50-day moving average is $13.72 and its two-hundred day moving average is $11.79. DNOW Inc. has a 1 year low of $8.83 and a 1 year high of $15.57.

DNOW (NYSE:DNOW) last announced its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The firm had revenue of $555.00 million during 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 firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 earnings per share. Analysts expect that DNOW Inc. will post 1.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DNOW. Susquehanna raised their price objective on DNOW from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Stifel Nicolaus boosted their price target on shares of DNOW from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, StockNews.com lowered shares of DNOW from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th.

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.