South Dakota Investment Council decreased its position in shares of DNOW Inc. (NYSE:DNOW - Free Report) by 8.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 572,380 shares of the oil and gas company's stock after selling 52,300 shares during the quarter. South Dakota Investment Council owned approximately 0.54% of DNOW worth $6,479,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the company. Oppenheimer & Co. Inc. lifted its stake in shares of DNOW by 25.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,666 shares of the oil and gas company's stock valued at $162,000 after purchasing an additional 2,772 shares during the last quarter. Bailard Inc. acquired a new position in shares of DNOW in the 3rd quarter valued at $210,000. Pathstone Family Office LLC boosted its holdings in shares of DNOW by 10.2% in the 3rd quarter. Pathstone Family Office LLC now owns 21,487 shares of the oil and gas company's stock valued at $255,000 after buying an additional 1,986 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in DNOW by 36.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,916 shares of the oil and gas company's stock worth $272,000 after acquiring an additional 6,137 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in DNOW by 15.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,518 shares of the oil and gas company's stock valued at $300,000 after acquiring an additional 3,602 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 several research reports. Susquehanna boosted their target price on DNOW from $13.00 to $16.00 and gave the company a "neutral" rating in a report on Monday, April 8th. StockNews.com downgraded shares of DNOW from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 28th. Finally, Stifel Nicolaus increased their target price 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.
View Our Latest Research Report on DNOW
DNOW Price Performance
Shares of NYSE DNOW traded down $0.38 during trading on Wednesday, hitting $14.77. 648,642 shares of the company were exchanged, compared to its average volume of 1,118,992. DNOW Inc. has a 1 year low of $8.83 and a 1 year high of $15.57. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 6.54 and a beta of 1.48. The firm's fifty day moving average price is $14.33 and its 200 day moving average price is $11.93.
DNOW (NYSE:DNOW - Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.07. The firm had revenue of $555.00 million for the quarter, compared to the consensus estimate of $540.83 million. DNOW had a net margin of 10.64% and a return on equity of 11.60%. The firm's revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. On average, research analysts forecast that DNOW Inc. will post 1.02 earnings per share for the current year.
DNOW Company Profile
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Free Report)
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.
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