DNOW Inc. (NYSE:DNOW) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its position in shares of DNOW Inc. (NYSE:DNOW) by 14.4% in the first quarter, HoldingsChannel.com reports. The fund owned 30,793 shares of the oil and gas company’s stock after selling 5,161 shares during the quarter. Maryland State Retirement & Pension System’s holdings in DNOW were worth $526,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in DNOW by 122.1% during 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 period. Headlands Technologies LLC lifted its position in DNOW by 21,663.6% during the 1st quarter. Headlands Technologies LLC now owns 2,394 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 2,383 shares during the period. New Age Alpha Advisors LLC acquired a new stake in DNOW during the 1st quarter worth about $58,000. Quarry LP lifted its position in DNOW by 69.2% during the 4th quarter. Quarry LP now owns 5,578 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 2,281 shares during the period. Finally, CWM LLC lifted its position in DNOW by 111.0% during the 1st quarter. CWM LLC now owns 6,726 shares of the oil and gas company’s stock worth $115,000 after acquiring an additional 3,539 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DNOW shares. Wall Street Zen raised DNOW from a “hold” rating to a “buy” rating in a research report on Saturday, April 26th. Stifel Nicolaus decreased their price objective on DNOW from $19.00 to $18.00 and set a “buy” rating for the company in a report on Monday, July 21st.

DNOW Stock Down 0.9%

Shares of DNOW stock opened at $14.86 on Friday. The stock has a market cap of $1.59 billion, a PE ratio of 19.55 and a beta of 1.13. The business has a 50-day simple moving average of $14.84 and a 200-day simple moving average of $15.28. DNOW Inc. has a 52-week low of $11.42 and a 52-week high of $18.45.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The business had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $612.60 million. DNOW had a return on equity of 8.97% and a net margin of 3.45%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 EPS. Sell-side analysts anticipate that DNOW Inc. will post 0.86 earnings per share 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.