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

Louisiana State Employees Retirement System acquired a new position in DNOW Inc. (NYSE:DNOW) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 82,300 shares of the oil and gas company’s stock, valued at approximately $980,000.

Several other large investors also recently made changes to their positions in the business. Covestor Ltd increased its stake in shares of DNOW by 15.7% in the fourth quarter. Covestor Ltd now owns 4,614 shares of the oil and gas company’s stock valued at $61,000 after buying an additional 626 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in DNOW by 1.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 45,540 shares of the oil and gas company’s stock worth $603,000 after buying an additional 860 shares in the last quarter. Summit Global Investments lifted its position in DNOW by 5.4% during the 4th 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. grew its holdings in DNOW by 12.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,191 shares of the oil and gas company’s stock worth $109,000 after acquiring an additional 892 shares during the last quarter. Finally, Investors Research Corp grew its holdings in DNOW by 61.1% during the 4th quarter. Investors Research Corp now owns 3,001 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 1,138 shares during the last quarter. Institutional investors own 97.63% of the company’s stock.

DNOW Price Performance

DNOW stock opened at $12.59 on Friday. The business’s 50-day simple moving average is $13.23 and its 200 day simple moving average is $13.30. The company has a quick ratio of 1.14, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -17.25 and a beta of 0.83. DNOW Inc. has a 12-month low of $10.94 and a 12-month high of $17.26.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm posted $0.22 earnings per share. The business’s revenue for the quarter was up 97.5% compared to the same quarter last year. As a group, research analysts anticipate that DNOW Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

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

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.