New York State Teachers Retirement System Sells 5,704 Shares of DNOW Inc. (NYSE:DNOW)

New York State Teachers Retirement System cut its holdings in shares of DNOW Inc. (NYSE:DNOW) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 209,701 shares of the oil and gas company’s stock after selling 5,704 shares during the period. New York State Teachers Retirement System’s holdings in DNOW were worth $2,711,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BNP Paribas Financial Markets raised its stake in DNOW by 26.9% in the first quarter. BNP Paribas Financial Markets now owns 56,524 shares of the oil and gas company’s stock worth $859,000 after buying an additional 11,982 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of DNOW during the 1st quarter worth approximately $555,000. Texas Permanent School Fund Corp raised its position in shares of DNOW by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 93,060 shares of the oil and gas company’s stock worth $1,415,000 after acquiring an additional 1,205 shares in the last quarter. LSV Asset Management purchased a new position in shares of DNOW in the 1st quarter valued at approximately $710,000. Finally, Sei Investments Co. boosted its position in shares of DNOW by 751.6% during the first quarter. Sei Investments Co. now owns 131,258 shares of the oil and gas company’s stock valued at $1,995,000 after purchasing an additional 115,844 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on DNOW. StockNews.com raised DNOW from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Susquehanna cut their price objective on shares of DNOW from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, Stifel Nicolaus lifted their target price on shares of DNOW from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 18th.

DNOW Price Performance

Shares of DNOW stock opened at $13.74 on Friday. DNOW Inc. has a 1 year low of $9.44 and a 1 year high of $15.65. The firm’s 50-day moving average is $12.44 and its 200 day moving average is $13.32. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 6.64 and a beta of 1.45.

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