DNOW (NYSE:DNOW) Stock Rating Lowered by Wall Street Zen

DNOW (NYSE:DNOW) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Several other research firms have also recently weighed in on DNOW. Susquehanna raised DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price objective for the company in a research report on Friday, November 21st. KeyCorp set a $19.00 price target on DNOW in a research report on Thursday, December 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $18.00 price target on shares of DNOW in a research note on Monday, November 24th. Zacks Research upgraded shares of DNOW from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of DNOW in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, DNOW currently has an average rating of “Buy” and an average target price of $17.67.

DNOW Price Performance

NYSE DNOW opened at $14.32 on Friday. DNOW has a one year low of $12.01 and a one year high of $18.45. The firm has a market cap of $1.50 billion, a P/E ratio of 16.46 and a beta of 0.76. The stock’s 50-day moving average is $13.58 and its 200-day moving average is $14.49.

DNOW (NYSE:DNOW) last issued its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $634.00 million for the quarter, compared to analyst estimates of $637.13 million. DNOW had a net margin of 3.91% and a return on equity of 9.35%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the business posted $0.21 earnings per share. Equities analysts anticipate that DNOW will post 0.86 EPS for the current year.

Institutional Trading of DNOW

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in shares of DNOW by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,453,854 shares of the oil and gas company’s stock worth $98,421,000 after acquiring an additional 42,878 shares during the period. Boston Partners acquired a new stake in DNOW during the 3rd quarter valued at $72,302,000. Wellington Management Group LLP boosted its position in DNOW by 260.2% during the third quarter. Wellington Management Group LLP now owns 3,764,823 shares of the oil and gas company’s stock worth $57,414,000 after purchasing an additional 2,719,594 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of DNOW by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 2,987,198 shares of the oil and gas company’s stock valued at $44,300,000 after purchasing an additional 72,517 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of DNOW by 1.3% in the second quarter. Geode Capital Management LLC now owns 2,524,052 shares of the oil and gas company’s stock valued at $37,437,000 after purchasing an additional 32,317 shares during the period. Institutional investors own 97.63% of the company’s stock.

About DNOW

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.