Shares of DNOW Inc. (NYSE:DNOW – Get Free Report) have received a consensus rating of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $18.20.
Several brokerages have recently weighed in on DNOW. Weiss Ratings raised shares of DNOW from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. DA Davidson boosted their price objective on shares of DNOW from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Wall Street Zen upgraded shares of DNOW from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Freedom Broker downgraded shares of DNOW from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research report on Thursday, September 10th. Finally, Susquehanna raised their target price on shares of DNOW from $16.00 to $19.00 and gave the company a “positive” rating in a research report on Friday, August 7th.
View Our Latest Research Report on DNOW
DNOW Stock Up 1.2%
DNOW stock opened at $15.88 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.14 and a quick ratio of 1.06. The stock has a market capitalization of $2.87 billion, a P/E ratio of -14.84 and a beta of 0.89. The business has a 50-day moving average of $15.75 and a 200-day moving average of $14.03. DNOW has a fifty-two week low of $10.94 and a fifty-two week high of $17.26.
DNOW (NYSE:DNOW – Get Free Report) last announced its earnings results on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.27 billion. DNOW had a positive return on equity of 3.91% and a negative net margin of 4.58%. DNOW’s revenue for the quarter was up 108.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 EPS. On average, sell-side analysts anticipate that DNOW will post 0.34 earnings per share for the current fiscal year.
Hedge Funds Weigh In On DNOW
A number of large investors have recently modified their holdings of the business. Nykredit A S acquired a new stake in shares of DNOW in the second quarter valued at about $26,000. Sunbelt Securities Inc. boosted its position in DNOW by 8,060.0% during the first quarter. Sunbelt Securities Inc. now owns 2,448 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 2,418 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in DNOW during the first quarter valued at approximately $45,000. TrinityBridge Ltd acquired a new position in DNOW during the second quarter valued at approximately $54,000. Finally, Rockefeller Capital Management L.P. grew its stake in DNOW by 707.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,419 shares of the oil and gas company’s stock valued at $59,000 after purchasing an additional 3,872 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.
DNOW Company Profile
DNOW Inc (NYSE: DNOW) is a global distributor of products and services used in the energy and industrial sectors. The company supplies equipment and materials for upstream, midstream and downstream oil and gas operations, as well as related industrial, utility and infrastructure markets.
Its offerings include pipe, valves, fittings, flanges, and other mechanical products; production and artificial-lift equipment; electrical and instrumentation products; and maintenance, repair and operating supplies.
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