Teacher Retirement System of Texas Increases Stock Holdings in DNOW Inc. (NYSE:DNOW)

Teacher Retirement System of Texas raised its position in shares of DNOW Inc. (NYSE:DNOW) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 100,117 shares of the oil and gas company’s stock after purchasing an additional 792 shares during the quarter. Teacher Retirement System of Texas owned 0.09% of DNOW worth $1,303,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its position in DNOW by 78.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 885 shares during the period. Highland Capital Management LLC boosted its stake in shares of DNOW by 6.7% during the 4th quarter. Highland Capital Management LLC now owns 17,514 shares of the oil and gas company’s stock worth $228,000 after acquiring an additional 1,097 shares during the last quarter. Franklin Resources Inc. grew its position in shares of DNOW by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 216,243 shares of the oil and gas company’s stock valued at $2,761,000 after acquiring an additional 1,278 shares during the period. Coldstream Capital Management Inc. increased its stake in shares of DNOW by 10.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 14,106 shares of the oil and gas company’s stock worth $182,000 after purchasing an additional 1,291 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in DNOW by 9.7% in the 3rd quarter. HighTower Advisors LLC now owns 16,541 shares of the oil and gas company’s stock worth $211,000 after purchasing an additional 1,458 shares during the period. Institutional investors own 97.63% of the company’s stock.

DNOW Stock Performance

Shares of DNOW stock opened at $17.06 on Friday. DNOW Inc. has a fifty-two week low of $11.42 and a fifty-two week high of $18.45. The company has a market capitalization of $1.80 billion, a P/E ratio of 23.36 and a beta of 1.51. The company has a fifty day moving average of $15.54 and a 200 day moving average of $14.08.

DNOW (NYSE:DNOW) last released its quarterly earnings data on Thursday, February 13th. The oil and gas company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.14. DNOW had a return on equity of 9.04% and a net margin of 3.41%. Analysts forecast that DNOW Inc. will post 0.86 EPS for the current year.

DNOW announced that its board has initiated a stock repurchase plan on Friday, January 24th that authorizes the company to buyback $160.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 10% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on DNOW shares. Stifel Nicolaus boosted their price target on DNOW from $17.00 to $20.00 and gave the company a “buy” rating in a report on Friday, February 14th. StockNews.com upgraded DNOW from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th.

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.