DNOW (NYSE:DNOW) Sets New 1-Year Low – Time to Sell?

Shares of DNOW Inc. (NYSE:DNOW) hit a new 52-week low during trading on Thursday . The company traded as low as $12.51 and last traded at $12.5720, with a volume of 1930001 shares traded. The stock had previously closed at $12.96.

Analysts Set New Price Targets

DNOW has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of DNOW in a research note on Wednesday, October 8th. Stifel Nicolaus cut their target price on DNOW from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, July 21st. Finally, Zacks Research cut DNOW from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.00.

DNOW Trading Down 0.8%

The stock has a market cap of $1.31 billion, a PE ratio of 14.33 and a beta of 1.01. The business has a 50 day moving average of $14.75 and a 200-day moving average of $14.93.

DNOW (NYSE:DNOW) last posted its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $634.00 million during the quarter, compared to the consensus estimate of $637.13 million. DNOW had a return on equity of 9.35% and a net margin of 3.91%.The company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.21 earnings per share. Research analysts expect that DNOW Inc. will post 0.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in shares of DNOW by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 6,453,854 shares of the oil and gas company’s stock worth $98,421,000 after buying an additional 42,878 shares during the period. Boston Partners purchased a new stake in DNOW during the 3rd quarter valued at approximately $72,302,000. Wellington Management Group LLP lifted its position in DNOW by 260.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,764,823 shares of the oil and gas company’s stock worth $57,414,000 after acquiring an additional 2,719,594 shares during the period. Ameriprise Financial Inc. lifted its position in DNOW by 2.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,987,198 shares of the oil and gas company’s stock worth $44,300,000 after acquiring an additional 72,517 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of DNOW by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,524,052 shares of the oil and gas company’s stock valued at $37,437,000 after purchasing an additional 32,317 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

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.