DNOW (NYSE:DNOW) Stock Price Up 4.9% – What’s Next?

DNOW Inc. (NYSE:DNOW)’s stock price traded up 4.9% during trading on Wednesday . The stock traded as high as $11.67 and last traded at $11.6620. 358,056 shares changed hands during trading, a decline of 89% from the average session volume of 3,222,383 shares. The stock had previously closed at $11.12.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. KeyCorp set a $19.00 target price on shares of DNOW in a report on Thursday, December 18th. Susquehanna raised 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. Wall Street Zen cut DNOW from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Stifel Nicolaus cut their price objective on DNOW from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Finally, Zacks Research cut DNOW from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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 firm’s 50-day moving average is $13.87 and its 200-day moving average is $14.18. The company has a market cap of $1.24 billion, a PE ratio of -40.71 and a beta of 0.79.

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

Institutional Investors Weigh In On DNOW

Several hedge funds have recently made changes to their positions in DNOW. Blue Trust Inc. purchased a new stake in DNOW in the fourth quarter worth $25,000. Quarry LP lifted its position in DNOW by 712.6% during the fourth quarter. Quarry LP now owns 1,942 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 1,703 shares during the period. Clearstead Advisors LLC boosted its holdings in shares of DNOW by 132.5% during the 4th 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 in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of DNOW by 190.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock worth $36,000 after buying an additional 1,589 shares during the period. Finally, Arax Advisory Partners grew its position in shares of DNOW by 336.3% in the 4th quarter. Arax Advisory Partners now owns 2,797 shares of the oil and gas company’s stock worth $37,000 after buying an additional 2,156 shares during the period. 97.63% of the stock is currently 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.