State of Alaska Department of Revenue Lowers Stake in DNOW Inc. (NYSE:DNOW)

State of Alaska Department of Revenue lessened its holdings in DNOW Inc. (NYSE:DNOW) by 2.7% during the first quarter, Holdings Channel.com reports. The firm owned 58,542 shares of the oil and gas company’s stock after selling 1,613 shares during the quarter. State of Alaska Department of Revenue’s holdings in DNOW were worth $999,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in DNOW by 122.1% in the 1st quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 1,022 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of DNOW by 78.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,010 shares of the oil and gas company’s stock worth $26,000 after buying an additional 885 shares in the last quarter. Quarry LP lifted its stake in shares of DNOW by 69.2% in the fourth quarter. Quarry LP now owns 5,578 shares of the oil and gas company’s stock worth $73,000 after buying an additional 2,281 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of DNOW in the fourth quarter worth approximately $166,000. Finally, Polymer Capital Management US LLC bought a new position in DNOW during the fourth quarter valued at approximately $192,000. Institutional investors own 97.63% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on DNOW shares. Susquehanna reduced their target price on shares of DNOW from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Stifel Nicolaus lowered their price objective on shares of DNOW from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of DNOW from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th.

DNOW Price Performance

DNOW stock opened at $15.05 on Friday. The company has a market capitalization of $1.59 billion, a PE ratio of 20.33 and a beta of 1.09. DNOW Inc. has a 12 month low of $11.42 and a 12 month high of $18.45. The firm’s 50-day moving average is $15.18 and its 200 day moving average is $14.99.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The firm had revenue of $599.00 million for the quarter, compared to the consensus estimate of $587.17 million. DNOW had a net margin of 3.40% and a return on equity of 9.00%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS. Sell-side analysts forecast that DNOW Inc. will post 0.86 EPS for the current fiscal year.

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.