DNOW (NYSE:DNOW) Hits New 52-Week Low – Here’s What Happened

DNOW Inc. (NYSE:DNOW) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $11.34 and last traded at $11.8760, with a volume of 625737 shares. The stock had previously closed at $11.78.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Stifel Nicolaus decreased their price objective on DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Wall Street Zen lowered DNOW from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Zacks Research cut DNOW from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd. Weiss Ratings downgraded DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday. Finally, Susquehanna upgraded shares of DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price objective on the stock in a report on Friday, November 21st. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.00.

DNOW Price Performance

The company has a quick ratio of 1.11, a current ratio of 2.34 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average is $14.33 and its 200-day moving average is $14.49. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -42.59 and a beta of 0.79.

DNOW (NYSE:DNOW) last announced its quarterly earnings results on Friday, February 20th. The oil and gas company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. The firm had revenue of $959.00 million for the quarter, compared to analysts’ expectations of $969.50 million. DNOW had a positive return on equity of 7.26% and a negative net margin of 2.66%.The business’s revenue was up 68.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. Equities research analysts expect that DNOW Inc. will post 0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of DNOW by 66.1% in the fourth quarter. Vanguard Group Inc. now owns 19,498,204 shares of the oil and gas company’s stock worth $258,351,000 after acquiring an additional 7,762,071 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of DNOW by 187.2% in the fourth 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 in the last quarter. Boston Partners bought a new position in DNOW in the 3rd quarter worth approximately $72,302,000. Pzena Investment Management LLC acquired a new position in DNOW during the 4th quarter worth $55,135,000. Finally, Dimensional Fund Advisors LP lifted its holdings 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 worth $137,466,000 after buying an additional 3,920,731 shares in the last quarter. 97.63% of the stock is owned by institutional investors.

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.