Louisiana State Employees Retirement System Purchases Shares of 82,300 DNOW Inc. $DNOW

Louisiana State Employees Retirement System acquired a new position in DNOW Inc. (NYSE:DNOW) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 82,300 shares of the oil and gas company’s stock, valued at approximately $980,000.

Other institutional investors also recently modified their holdings of the company. Covestor Ltd increased its position in shares of DNOW by 15.7% during the fourth quarter. Covestor Ltd now owns 4,614 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 626 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in DNOW by 1.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 45,540 shares of the oil and gas company’s stock worth $603,000 after purchasing an additional 860 shares during the period. Summit Global Investments boosted its stake in DNOW by 5.4% during the fourth quarter. Summit Global Investments now owns 16,991 shares of the oil and gas company’s stock worth $225,000 after buying an additional 865 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in DNOW by 12.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,191 shares of the oil and gas company’s stock worth $109,000 after buying an additional 892 shares in the last quarter. Finally, Investors Research Corp boosted its stake in DNOW by 61.1% during the fourth quarter. Investors Research Corp now owns 3,001 shares of the oil and gas company’s stock worth $40,000 after buying an additional 1,138 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wall Street Zen cut shares of DNOW from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Zacks Research upgraded shares of DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. Freedom Capital raised shares of DNOW to a “strong-buy” rating in a research note on Monday, June 22nd. Finally, DA Davidson started coverage on shares of DNOW in a research report on Tuesday, June 16th. They issued a “buy” rating and a $17.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, DNOW presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

DNOW Stock Down 0.1%

Shares of NYSE:DNOW opened at $12.59 on Friday. The company has a market capitalization of $2.30 billion, a PE ratio of -17.25 and a beta of 0.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 2.42. The company’s fifty day moving average is $13.23 and its 200-day moving average is $13.30. DNOW Inc. has a 52 week low of $10.94 and a 52 week high of $17.26.

DNOW (NYSE:DNOW) last released its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.08 billion. DNOW had a negative net margin of 4.14% and a positive return on equity of 4.94%. DNOW’s quarterly revenue was up 97.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 earnings per share. Equities research analysts predict that DNOW Inc. will post 0.31 earnings per share for the current fiscal year.

DNOW Profile

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.