DNOW (NYSE:DNOW) Hits New 1-Year High After Analyst Upgrade

DNOW Inc. (NYSE:DNOW)’s stock price 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 trading hands. The stock had previously closed at $15.25.

Several other equities research analysts also recently issued reports on DNOW. StockNews.com downgraded DNOW from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th. Susquehanna lifted their price objective on shares of DNOW from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, February 16th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DNOW. State of Wyoming acquired a new stake in DNOW in the 4th quarter valued at about $31,000. Quarry LP lifted its position in shares of DNOW by 63.4% in the first quarter. Quarry LP now owns 3,144 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 1,220 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new position in shares of DNOW during the 4th quarter worth approximately $42,000. Tower Research Capital LLC TRC increased its holdings 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 acquiring an additional 3,140 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in DNOW by 173.7% in the 1st quarter. Captrust Financial Advisors now owns 5,973 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 3,791 shares during the period. Institutional investors own 97.63% of the company’s stock.

DNOW Stock Performance

The firm has a fifty day simple moving average of $12.62 and a 200-day simple moving average of $11.53. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 6.73 and a beta of 1.48.

DNOW (NYSE:DNOW) last posted its earnings results on Thursday, February 15th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The company had revenue of $555.00 million during the quarter, compared to analysts’ expectations of $540.83 million. DNOW had a net margin of 10.64% and a return on equity of 11.60%. DNOW’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 EPS. Analysts expect that DNOW Inc. will post 1.02 earnings per share for the current fiscal year.

About DNOW

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.