DNOW (NYSE:DNOW – Get Free Report) had its target price reduced by stock analysts at Susquehanna from $19.00 to $18.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “positive” rating on the oil and gas company’s stock. Susquehanna‘s target price would indicate a potential upside of 30.61% from the company’s current price.
Several other brokerages have also recently commented on DNOW. DA Davidson boosted their price target 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. Freedom Broker cut DNOW from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a report on Thursday, September 10th. Wall Street Zen raised DNOW from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings upgraded DNOW from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.
Check Out Our Latest Research Report on DNOW
DNOW Stock Performance
Shares of DNOW opened at $13.78 on Friday. DNOW has a 12 month low of $10.94 and a 12 month high of $17.26. The firm has a fifty day simple moving average of $15.76 and a 200 day simple moving average of $14.12. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of -12.88 and a beta of 0.95. The company has a current ratio of 2.14, a quick ratio of 1.06 and a debt-to-equity ratio of 0.23.
DNOW (NYSE:DNOW – Get Free Report) last released its earnings results on Thursday, November 5th. The oil and gas company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. DNOW had a negative net margin of 4.58% and a positive return on equity of 3.91%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 110.9% compared to the same quarter last year. Research analysts forecast that DNOW will post 0.34 EPS for the current fiscal year.
Institutional Trading of DNOW
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nykredit A S acquired a new stake in DNOW in the second quarter valued at $26,000. Sunbelt Securities Inc. grew its position in shares of DNOW by 8,060.0% in the 1st quarter. Sunbelt Securities Inc. now owns 2,448 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 2,418 shares during the period. Parallel Advisors LLC grew its position in shares of DNOW by 698.8% in the 3rd quarter. Parallel Advisors LLC now owns 2,636 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 2,306 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in shares of DNOW in the 1st quarter valued at about $45,000. Finally, TrinityBridge Ltd acquired a new position in shares of DNOW during the 2nd quarter worth about $54,000. 97.63% of the stock is owned by institutional investors.
About DNOW
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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