DNOW (NYSE:DNOW) Upgraded at DA Davidson

DNOW (NYSE:DNOW) was upgraded by stock analysts at DA Davidson to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities analysts have also recently commented on the stock. Stifel Nicolaus decreased their price target on shares of DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Zacks Research upgraded DNOW from a “strong sell” rating to a “hold” rating in a research note on Friday, May 22nd. Wall Street Zen lowered DNOW from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of DNOW in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.00.

DNOW Stock Down 1.9%

Shares of DNOW opened at $13.45 on Tuesday. The company’s 50-day simple moving average is $12.94 and its 200-day simple moving average is $13.37. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.14 and a current ratio of 2.42. DNOW has a 1 year low of $10.94 and a 1 year high of $17.26. The stock has a market capitalization of $2.45 billion, a PE ratio of -18.42 and a beta of 0.82.

DNOW (NYSE:DNOW) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). DNOW had a negative net margin of 4.14% and a positive return on equity of 4.94%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm posted $0.22 EPS. The company’s revenue for the quarter was up 97.5% on a year-over-year basis. Analysts forecast that DNOW will post 0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DNOW. Vanguard Group Inc. raised its holdings in shares of DNOW by 66.1% in the 4th quarter. Vanguard Group Inc. now owns 19,498,204 shares of the oil and gas company’s stock valued at $258,351,000 after purchasing an additional 7,762,071 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of DNOW by 187.2% during the fourth quarter. Wellington Management Group LLP now owns 10,813,205 shares of the oil and gas company’s stock worth $143,275,000 after purchasing an additional 7,048,382 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in DNOW by 60.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,374,585 shares of the oil and gas company’s stock valued at $137,466,000 after buying an additional 3,920,731 shares during the last quarter. Boston Partners increased its holdings in DNOW by 66.0% in the fourth quarter. Boston Partners now owns 7,859,416 shares of the oil and gas company’s stock valued at $104,171,000 after buying an additional 3,124,280 shares during the last quarter. Finally, State Street Corp raised its stake in DNOW by 81.8% in the fourth quarter. State Street Corp now owns 7,440,738 shares of the oil and gas company’s stock valued at $98,590,000 after buying an additional 3,347,335 shares in the last quarter. 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.