Texas Permanent School Fund boosted its stake in shares of NOW Inc. (NYSE:DNOW – Get Rating) by 2.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 80,018 shares of the oil and gas company’s stock after purchasing an additional 1,637 shares during the period. Texas Permanent School Fund’s holdings in NOW were worth $783,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Comerica Bank grew its position in NOW by 1.6% during the 1st quarter. Comerica Bank now owns 97,445 shares of the oil and gas company’s stock worth $1,133,000 after purchasing an additional 1,540 shares during the period. Teacher Retirement System of Texas grew its position in NOW by 8.3% during the 1st quarter. Teacher Retirement System of Texas now owns 22,974 shares of the oil and gas company’s stock worth $253,000 after purchasing an additional 1,770 shares during the period. Yousif Capital Management LLC grew its position in shares of NOW by 1.8% during the 1st quarter. Yousif Capital Management LLC now owns 103,398 shares of the oil and gas company’s stock valued at $1,140,000 after acquiring an additional 1,790 shares during the period. Aaron Wealth Advisors LLC acquired a new stake in shares of NOW during the 1st quarter valued at about $212,000. Finally, US Bancorp DE grew its position in shares of NOW by 839.2% during the 2nd quarter. US Bancorp DE now owns 2,705 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 2,417 shares during the period. 96.38% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on DNOW shares. Benchmark raised their target price on NOW to $15.00 in a research report on Tuesday, August 9th. StockNews.com cut NOW from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 16th.
NOW Trading Up 1.8 %
NOW (NYSE:DNOW – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The oil and gas company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The firm had revenue of $577.00 million for the quarter, compared to analyst estimates of $565.60 million. NOW had a net margin of 5.34% and a return on equity of 11.31%. On average, sell-side analysts predict that NOW Inc. will post 0.82 EPS for the current fiscal year.
NOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and industrial manufacturing operations in the United States, Canada, and internationally. The company offers its products under the DistributionNOW and DNOW brand names.
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