DNOW (NYSE:DNOW) Reaches New 12-Month Low – Here’s What Happened

DNOW Inc. (NYSE:DNOW) shares hit a new 52-week low on Wednesday . The company traded as low as $12.56 and last traded at $14.1180, with a volume of 264950 shares trading hands. The stock had previously closed at $14.60.

Analyst Ratings Changes

Several brokerages have recently issued reports on DNOW. Weiss Ratings reissued a “hold (c+)” rating on shares of DNOW in a research note on Wednesday, October 8th. Zacks Research downgraded DNOW from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Stifel Nicolaus reduced their price objective on DNOW from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.00.

DNOW Stock Performance

The firm has a fifty day moving average of $15.10 and a 200-day moving average of $15.05. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 15.78 and a beta of 1.01.

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. DNOW had a return on equity of 9.35% and a net margin of 3.91%.The company had revenue of $634.00 million for the quarter, compared to analysts’ expectations of $637.13 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. On average, analysts predict that DNOW Inc. will post 0.86 EPS for the current year.

Hedge Funds Weigh In On DNOW

A number of institutional investors and hedge funds have recently bought and sold shares of DNOW. SummerHaven Investment Management LLC raised its position in DNOW by 1.5% in the second quarter. SummerHaven Investment Management LLC now owns 61,228 shares of the oil and gas company’s stock worth $908,000 after acquiring an additional 909 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of DNOW by 14.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,299 shares of the oil and gas company’s stock valued at $111,000 after purchasing an additional 937 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of DNOW by 122.1% in the 1st quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 1,022 shares during the last quarter. Amalgamated Bank raised its holdings in shares of DNOW by 3.4% in the 3rd quarter. Amalgamated Bank now owns 31,215 shares of the oil and gas company’s stock worth $476,000 after purchasing an additional 1,040 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of DNOW by 15.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 7,825 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 1,073 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

About DNOW

DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as artificial lift systems, coatings, and miscellaneous expendable items.