DNOW Inc. (NYSE:DNOW) Given Average Rating of “Hold” by Brokerages

DNOW Inc. (NYSE:DNOW) has received a consensus rating of “Hold” from the five analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $17.00.

A number of brokerages have recently weighed in on DNOW. Wall Street Zen downgraded DNOW from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DNOW in a report on Wednesday, May 27th. Stifel Nicolaus lowered their target price on shares of DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Zacks Research upgraded shares of DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. Finally, DA Davidson began coverage on shares of DNOW in a research report on Monday. They set a “buy” rating and a $17.00 price objective for the company.

Institutional Trading of DNOW

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in DNOW by 66.1% during the 4th quarter. Vanguard Group Inc. now owns 19,498,204 shares of the oil and gas company’s stock valued at $258,351,000 after purchasing an additional 7,762,071 shares during the period. Wellington Management Group LLP lifted its position in DNOW by 187.2% in the 4th quarter. Wellington Management Group LLP now owns 10,813,205 shares of the oil and gas company’s stock valued at $143,275,000 after purchasing an additional 7,048,382 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in DNOW by 60.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,374,585 shares of the oil and gas company’s stock valued at $137,466,000 after purchasing an additional 3,920,731 shares during the period. Boston Partners grew its position in DNOW by 66.0% in the 4th quarter. Boston Partners now owns 7,859,416 shares of the oil and gas company’s stock worth $104,171,000 after purchasing an additional 3,124,280 shares during the last quarter. Finally, State Street Corp grew its position in DNOW by 81.8% in the 4th quarter. State Street Corp now owns 7,440,738 shares of the oil and gas company’s stock worth $98,590,000 after purchasing an additional 3,347,335 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Stock Up 0.9%

Shares of DNOW stock traded up $0.13 during trading hours on Tuesday, hitting $13.83. 123,239 shares of the company were exchanged, compared to its average volume of 3,161,477. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of -18.94 and a beta of 0.82. DNOW has a one year low of $10.94 and a one year high of $17.26. The business’s 50-day simple moving average is $12.92 and its two-hundred day simple moving average is $13.38. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 2.42.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). DNOW had a negative net margin of 4.14% and a positive return on equity of 4.94%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm earned $0.22 earnings per share. The firm’s quarterly revenue was up 97.5% compared to the same quarter last year. Sell-side analysts predict that DNOW will post 0.31 EPS for the current fiscal year.

DNOW Company Profile

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.