DNOW (NYSE:DNOW) Reaches New 52-Week Low – Here’s Why

DNOW Inc. (NYSE:DNOW) shares reached a new 52-week low on Tuesday . The company traded as low as $10.95 and last traded at $10.9950, with a volume of 769204 shares traded. The stock had previously closed at $11.20.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DNOW shares. KeyCorp set a $19.00 price objective on DNOW in a report on Thursday, December 18th. Wall Street Zen lowered DNOW from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Susquehanna upgraded DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price target for the company in a research report on Friday, November 21st. Weiss Ratings downgraded DNOW from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. Finally, Stifel Nicolaus decreased their price objective on shares of DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, DNOW presently has an average rating of “Hold” and an average price target of $17.00.

DNOW Trading Up 4.5%

The business has a 50 day moving average of $13.91 and a 200-day moving average of $14.20. The stock has a market cap of $1.22 billion, a PE ratio of -40.07 and a beta of 0.79. The company has a current ratio of 2.34, a quick ratio of 1.11 and a debt-to-equity ratio of 0.18.

DNOW (NYSE:DNOW) last released its quarterly earnings results on Friday, February 20th. The oil and gas company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. DNOW had a positive return on equity of 7.26% and a negative net margin of 2.66%.The company had revenue of $959.00 million during the quarter, compared to the consensus estimate of $969.50 million. During the same quarter last year, the business posted $0.25 earnings per share. DNOW’s revenue was up 68.0% compared to the same quarter last year. On average, analysts anticipate that DNOW Inc. will post 0.86 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new position in DNOW in the 4th quarter valued at about $25,000. Quarry LP grew its holdings in shares of DNOW by 712.6% during the fourth quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock worth $26,000 after buying an additional 1,703 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of DNOW by 190.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 1,589 shares during the last quarter. Clearstead Advisors LLC raised its position in shares of DNOW by 132.5% in the fourth quarter. Clearstead Advisors LLC now owns 2,427 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 1,383 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of DNOW by 2,101.7% during the third quarter. Parkside Financial Bank & Trust now owns 2,620 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 2,501 shares during the period. Institutional investors and hedge funds 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.