DNOW (NYSE:DNOW) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of DNOW (NYSE:DNOW) from a sell rating to a hold rating in a report issued on Saturday morning.

DNOW has been the topic of a number of other research reports. Susquehanna boosted their price objective on DNOW from $16.00 to $19.00 and gave the stock a “positive” rating in a research note on Friday. Freedom Capital raised DNOW to a “strong-buy” rating in a research note on Monday, June 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. DA Davidson started coverage on DNOW in a report on Tuesday, June 16th. They set a “buy” rating and a $17.00 target price on the stock. Finally, Zacks Research upgraded shares of DNOW from a “strong sell” rating to a “hold” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, DNOW currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

DNOW Price Performance

NYSE DNOW opened at $16.71 on Friday. DNOW has a 12 month low of $10.94 and a 12 month high of $17.26. The firm has a market capitalization of $3.02 billion, a PE ratio of -15.62 and a beta of 0.82. The company’s 50 day simple moving average is $13.70 and its 200 day simple moving average is $13.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.14 and a quick ratio of 1.06.

DNOW (NYSE:DNOW) last released its earnings results on Thursday, August 6th. The oil and gas company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.27 billion. DNOW had a positive return on equity of 3.91% and a negative net margin of 4.58%.The firm’s revenue for the quarter was up 108.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 earnings per share. As a group, equities research analysts forecast that DNOW will post 0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Covestor Ltd increased its position in shares of DNOW by 15.7% in the fourth quarter. Covestor Ltd now owns 4,614 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 626 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of DNOW by 1.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 45,540 shares of the oil and gas company’s stock valued at $603,000 after acquiring an additional 860 shares in the last quarter. Summit Global Investments lifted its position in shares of DNOW by 5.4% in the 4th quarter. Summit Global Investments now owns 16,991 shares of the oil and gas company’s stock valued at $225,000 after acquiring an additional 865 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in DNOW by 12.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,191 shares of the oil and gas company’s stock worth $109,000 after purchasing an additional 892 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in DNOW by 50.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,629 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 1,216 shares during the period. Institutional investors own 97.63% of the company’s stock.

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.