New York State Common Retirement Fund Acquires 57,903 Shares of DNOW Inc. (NYSE:DNOW)

New York State Common Retirement Fund boosted its holdings in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 9.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 655,014 shares of the oil and gas company's stock after purchasing an additional 57,903 shares during the period. New York State Common Retirement Fund owned 0.62% of DNOW worth $11,188,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas lifted its holdings in DNOW by 0.8% during the fourth quarter. Teacher Retirement System of Texas now owns 100,117 shares of the oil and gas company's stock worth $1,303,000 after acquiring an additional 792 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of DNOW by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 60,319 shares of the oil and gas company's stock valued at $1,030,000 after purchasing an additional 966 shares during the period. GAMMA Investing LLC increased its position in shares of DNOW by 122.1% in the first quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company's stock valued at $32,000 after acquiring an additional 1,022 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of DNOW by 15.9% in the first quarter. Nisa Investment Advisors LLC now owns 7,825 shares of the oil and gas company's stock valued at $134,000 after acquiring an additional 1,073 shares during the last quarter. Finally, CoreCommodity Management LLC increased its position in DNOW by 1.4% during the fourth quarter. CoreCommodity Management LLC now owns 95,471 shares of the oil and gas company's stock worth $1,242,000 after buying an additional 1,364 shares during the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

DNOW Stock Performance

NYSE:DNOW traded up $0.06 on Friday, hitting $14.89. The stock had a trading volume of 2,132,512 shares, compared to its average volume of 969,147. The stock has a market cap of $1.57 billion, a P/E ratio of 20.12 and a beta of 1.08. DNOW Inc. has a 1 year low of $11.42 and a 1 year high of $18.45. The firm's fifty day simple moving average is $14.74 and its two-hundred day simple moving average is $15.09.

DNOW (NYSE:DNOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.03. The company had revenue of $599.00 million for the quarter, compared to analysts' expectations of $587.17 million. DNOW had a net margin of 3.40% and a return on equity of 9.00%. DNOW's revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. Equities research analysts predict that DNOW Inc. will post 0.86 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus boosted their price objective on DNOW from $17.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Susquehanna cut their price target on DNOW from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Wall Street Zen upgraded DNOW from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th.

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.