Louisiana State Employees Retirement System Purchases 1,000 Shares of DNOW Inc. (NYSE:DNOW)

Louisiana State Employees Retirement System raised its position in DNOW Inc. (NYSE:DNOW) by 1.9% during the second quarter, Holdings Channel reports. The fund owned 53,700 shares of the oil and gas company’s stock after acquiring an additional 1,000 shares during the period. Louisiana State Employees Retirement System’s holdings in DNOW were worth $737,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of DNOW by 14.5% in the 4th quarter. Wellington Management Group LLP now owns 926,412 shares of the oil and gas company’s stock worth $10,487,000 after purchasing an additional 117,612 shares during the period. Polaris Capital Management LLC purchased a new stake in DNOW during the fourth quarter valued at approximately $872,000. Sei Investments Co. raised its position in DNOW by 751.6% in the first quarter. Sei Investments Co. now owns 131,258 shares of the oil and gas company’s stock worth $1,995,000 after acquiring an additional 115,844 shares during the period. Denali Advisors LLC purchased a new position in shares of DNOW during the 1st quarter worth $1,409,000. Finally, First Hawaiian Bank bought a new stake in shares of DNOW during the 2nd quarter valued at $508,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

DNOW Price Performance

Shares of DNOW stock opened at $13.03 on Friday. DNOW Inc. has a one year low of $9.44 and a one year high of $15.65. The company’s fifty day moving average price is $13.57 and its 200-day moving average price is $13.91. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 6.00 and a beta of 1.45.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DNOW. Susquehanna decreased their target price on DNOW from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Stifel Nicolaus raised their price objective on DNOW from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th.

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.