Louisiana State Employees Retirement System Sells 2,200 Shares of DNOW Inc. (NYSE:DNOW)

Louisiana State Employees Retirement System decreased its position in DNOW Inc. (NYSE:DNOW) by 4.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,500 shares of the oil and gas company’s stock after selling 2,200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in DNOW were worth $666,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in shares of DNOW by 1,062.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock worth $38,000 after buying an additional 2,561 shares during the period. Headlands Technologies LLC bought a new position in shares of DNOW in the first quarter worth about $44,000. Quarry LP raised its stake in shares of DNOW by 75.6% in the second quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock worth $61,000 after buying an additional 1,908 shares during the period. Innealta Capital LLC bought a new position in shares of DNOW in the second quarter worth about $67,000. Finally, nVerses Capital LLC bought a new position in shares of DNOW in the third quarter worth about $78,000. Institutional investors own 97.63% of the company’s stock.

Analysts Set New Price Targets

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

DNOW Stock Performance

DNOW opened at $11.87 on Tuesday. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 5.73 and a beta of 1.45. The company has a fifty day moving average of $12.42 and a 200 day moving average of $13.33. DNOW Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $15.65.

DNOW (NYSE:DNOW) last posted its earnings results on Wednesday, August 7th. The oil and gas company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $633.00 million for the quarter, compared to analysts’ expectations of $638.20 million. DNOW had a net margin of 9.70% and a return on equity of 9.93%. On average, equities research analysts forecast that DNOW Inc. will post 0.85 earnings per share for the current year.

About DNOW

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.