DNOW (NYSE:DNOW) Reaches New 12-Month High After Analyst Upgrade

Shares of DNOW Inc. (NYSE:DNOWGet Free Report) hit a new 52-week high on Thursday after Stifel Nicolaus raised their price target on the stock from $16.00 to $18.00. Stifel Nicolaus currently has a buy rating on the stock. DNOW traded as high as $15.45 and last traded at $15.37, with a volume of 39589 shares. The stock had previously closed at $15.25.

Several other brokerages have also weighed in on DNOW. Susquehanna raised their price objective on shares of DNOW from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. StockNews.com lowered shares of DNOW from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th.

Read Our Latest Stock Analysis on DNOW

Institutional Trading of DNOW

Several hedge funds have recently bought and sold shares of DNOW. State of Wyoming bought a new stake in DNOW in the 4th quarter valued at about $31,000. Quarry LP raised its position in shares of DNOW by 63.4% during the 1st quarter. Quarry LP now owns 3,144 shares of the oil and gas company’s stock worth $35,000 after buying an additional 1,220 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of DNOW by 535.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,726 shares of the oil and gas company’s stock worth $41,000 after buying an additional 3,140 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new stake in shares of DNOW during the 4th quarter worth about $42,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of DNOW during the 2nd quarter worth about $62,000. 97.63% of the stock is currently owned by institutional investors.

DNOW Trading Down 0.3 %

The company has a market capitalization of $1.61 billion, a P/E ratio of 6.73 and a beta of 1.48. The business’s 50-day simple moving average is $12.62 and its 200 day simple moving average is $11.53.

DNOW (NYSE:DNOWGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. DNOW had a net margin of 10.64% and a return on equity of 11.60%. The company had revenue of $555.00 million for the quarter, compared to the consensus estimate of $540.83 million. During the same period in the previous year, the firm earned $0.25 EPS. DNOW’s revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts predict that DNOW Inc. will post 1.02 EPS for the current fiscal year.

DNOW Company Profile

(Get Free Report)

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.

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