NOW (NYSE:DNOW) Earns Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of NOW (NYSE:DNOW – Get Rating) in a research report report published on Thursday morning. The firm issued a buy rating on the oil and gas company’s stock.

Other equities analysts have also issued reports about the stock. Susquehanna restated a neutral rating and issued a $14.00 price objective on shares of NOW in a research report on Tuesday, March 14th. TheStreet upgraded shares of NOW from a c+ rating to a b- rating in a research report on Monday, December 12th.

NOW Stock Down 3.0 %

Shares of NYSE:DNOW opened at $10.07 on Thursday. The firm has a market capitalization of $1.11 billion, a PE ratio of 8.91 and a beta of 1.61. NOW has a twelve month low of $8.79 and a twelve month high of $14.86. The company has a 50-day moving average price of $12.94 and a two-hundred day moving average price of $12.22.

NOW (NYSE:DNOW – Get Rating) last issued its earnings results on Thursday, February 16th. The oil and gas company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. The firm had revenue of $547.00 million during the quarter, compared to analyst estimates of $530.77 million. NOW had a net margin of 5.99% and a return on equity of 13.49%. The company’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter last year, the business earned $0.07 earnings per share. Analysts anticipate that NOW will post 1.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NOW

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. LPL Financial LLC raised its stake in NOW by 1.2% in the fourth quarter. LPL Financial LLC now owns 67,371 shares of the oil and gas company’s stock valued at $856,000 after purchasing an additional 781 shares in the last quarter. Arizona State Retirement System raised its stake in NOW by 4.0% in the fourth quarter. Arizona State Retirement System now owns 31,279 shares of the oil and gas company’s stock valued at $397,000 after purchasing an additional 1,194 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in NOW by 0.8% in the third quarter. UBS Asset Management Americas Inc. now owns 166,993 shares of the oil and gas company’s stock valued at $1,678,000 after purchasing an additional 1,386 shares in the last quarter. Texas Permanent School Fund raised its stake in NOW by 2.1% in the second quarter. Texas Permanent School Fund now owns 80,018 shares of the oil and gas company’s stock valued at $783,000 after purchasing an additional 1,637 shares in the last quarter. Finally, Yousif Capital Management LLC raised its stake in NOW by 1.8% in the first quarter. Yousif Capital Management LLC now owns 103,398 shares of the oil and gas company’s stock valued at $1,140,000 after purchasing an additional 1,790 shares in the last quarter. 95.89% of the stock is owned by hedge funds and other institutional investors.

About NOW

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NOW Inc is a holding company, which engages in the distribution of energy products for industrial applications. It operates through the following segments: United States, Canada, and International. The United States segment serves the upstream, midstream and downstream energy, and industrial markets.